wiz-icon
MyQuestionIcon
MyQuestionIcon
10
You visited us 10 times! Enjoying our articles? Unlock Full Access!
Question

State with reasons, whether the following statement is True or False:
Reserve Bank of India cannot accept deposits from public.

Open in App
Solution


Deposits
have been defined under the Companies Act, 2013 ("2013 Act") to include any receipt of money by way of deposit or loan or in any other form by a company. However deposits do not include such categories of amounts as may be prescribed in consultation with the Reserve Bank of India ("RBI").

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Banks and Their Functions
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon