Tuesday, October 29, 2013

Walking a tightrope between depositors and deposits

Learning its lessons from the collapse of several collective investment schemes in recent times run by fly-by-night “companies,” the government has proposed stringent rules under the new Companies Act 2013 to protect depositors. Notified last week, these rules propose that companies (other than non-banking finance companies) should henceforth insure the deposits that they take from the public............

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