https://www.taxtmi.com/caselaws?id=272753 Deposit regulation of non-banking institutions under the Reserve Bank of India Act, 1934 permits directions controlling the categories, sources and limits of deposits, including restrictions applicable to chit fund companies. The later revision of the definition of "deposit" in the 1977 Directions does not, by itself, invalidate the 1973 Directions or the underlying statutory power. Restrictions that regulate borrowing and deposit acceptance, rather than prohibit the underlying business, may operate as public-interest regulation without infringing Article 19(1)(g). Directions signed by a Deputy Governor in the Reserve Bank's name may be authorised under the statutory and regulatory framework. en-us Wed, 09 Feb 1983 00:00:00 +0530 Fri, 22 Feb 2019 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272753 Deposit regulation of non-banking institutions under the Reserve Bank of India Act, 1934 permits directions controlling the categories, sources and limits of deposits, including restrictions applicable to chit fund companies. The later revision of the definition of "deposit" in the 1977 Directions does not, by itself, invalidate the 1973 Directions or the underlying statutory power. Restrictions that regulate borrowing and deposit acceptance, rather than prohibit the underlying business, may operate as public-interest regulation without infringing Article 19(1)(g). Directions signed by a Deputy Governor in the Reserve Bank's name may be authorised under the statutory and regulatory framework. Case-Laws Indian Laws Wed, 09 Feb 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272753