Mysuru | 13 Nov, 2022 (6 months, 3 weeks ago)

General Advice

Can jeweller take a gold deposits from public

Can jeweller take a gold deposits from public
14 Nov, 2022 | 12:59

Under Rule 3(6) of Companies (Acceptance of Deposits) Rules, 2014, no company can accept deposit, which carries a rate of interest more than what has been prescribed by Reserve Bank of India (RBI) for deposit accepting non-banking financial companies (NBFCs). In other words, jewellers' gold savings schemes needs to be on par with public-deposit schemes.

For a detailed discussion, you may reach out at

Adv. Akshay Lal
Taarkik Legal - Advocates & Consultants


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