Mandatory Cover for Public Deposits

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....andatory Cover for Public Deposits <br>News and Press Release<br>Dated:- 6-12-2013<br><BR>There is an enabling provision in Section 73 (2) (d) of the Companies Act whereby Companies permitted to accep....

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....t deposits from the public will be required to "provide such deposit insurance in such manner and to such extent as may be prescribed". Giving this information in written reply to a question in the Lo....

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....k Sabha, Minister of Corporate Affairs, Shri Sachin Pilot, said that the operationalization of this provision would require framing of suitable rules in consultation with the Reserve Bank of India.<BR....

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....> News - Press release - PIB....