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....t deposit insurance contract till the 31st March, 2015.]" 3. Substituted vide File No 1/8/2013-CL-V - Dated 29-6-2016, before it was read as, " 2[Provided that the companies may accept deposits without deposit insurance contract till the 31st March, 2016 or till the availability of a deposit insurance product, whichever is earlier.] " 4. Substituted vide File No. 1/8/2013-CL-V - D....

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....e contract shall be deemed to be the amount in respect of both principal amount and interest due thereon. 4[ Provided that the companies may accept deposits without deposit insurance contract till the 31st March, 2018 or till the availability of deposit insurance product, whichever is earlier. ] (2) The deposit insurance contract shall specifically provide that in case the company defaults in re....

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....the depositors by deducting the same from the principal amount or interest payable thereon. (4) If any default is made by the company in complying with the terms and conditions of the deposit insurance contract which makes the insurance cover ineffective, the company shall either rectify the default immediately or enter into a fresh contract within thirty days and in case of non-compliance, the a....