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Acceptance of Deposits by a Company Incorporated in India

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.... Indian (NRI) or a Person of Indian origin (PIO) A company incorporated in India (including a non-banking finance company registered with the Reserve Bank) may accept deposits from NRIs or PIOs, on repatriation basis subject to the following conditions. (i) The deposits are received under a public deposit scheme. (ii) If the deposit accepting company is a non-banking finance company, it shoul....

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....ity period of deposits shall not exceed 3 years. (vi) The company accepting the deposits shall comply with the provisions of any other law, rules, regulations, orders issued by the Government of India or any other competent authority, as are applicable to it in regard to acceptance of deposits. (vii) The amount of aggregate deposits accepted by the company shall not exceed 35% of its net owned....

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