Unregulated Deposits Banned. Download Ordinance

According to a press release, the ‘Unregulated Deposit Schemes Ordinance, 2019’ is expected to immediately tackle the menace of illicit deposit taking activities in the country launched by rapacious operators, which at present are exploiting regulatory gaps and lack of strict administrative measures to dupe poor and gullible people of their hard-earned savings, by altogether banning unregulated deposit taking schemes, and having adequate provisions for punishment and disgorgement / repayment of deposits in cases where such schemes nonetheless manage to raise deposits illegally.

The Ordinance has very wide implications and requires to be studied carefully by all professionals.

3 comments on “Unregulated Deposits Banned. Download Ordinance

    Status of small finance banks? offering much more than nationalized banks- will someone reply

  2. A Muralidharan says:

    In the case of Voluntary Organisations which deal with REvolving Funds concept through Self Help Groups for providing Loan to its members and charge meagre interest will be affected very badly. Is there any provision for overcoming for this

  3. vswami says:

    Loudly thinking (: Is the Ordinance providing a new mechanism for regulating / controlling ‘DEPoSiTS’ (as specially defined) wide enough to cover – if not, should be made to rope in, – also DEPOSITS demanded and collected , by promoters/ developers / sellers on own whims, from mostly gullible / helpless community of BUYERS of UNITS in a building complex ; particularly, at a stage anterior to effecting the ‘final conveyance’ of the entire property – land and buolding- to the buyers’ housing association, by whatever name called / under whatever name registered !

    Cr Refer related Pr. Posts lastly @
    OVER to..with an Invite to study and explore !

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  1. […] Paras Dawar has conducted a detailed analysis of ‘The Banning of Unregulated Deposit Schemes Ordinance, 2019‘ and explained all of its nuances. He has cautioned that while the Ordinance is […]

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