Office Memorandum No. 426/2014/FD of the Finance Department, Government of Maharashtra dated 9th February, 2014 on the business of banking [C13-8CC]

No. 426/2014/FD

GOVERNMENT OF MAHARASHTRA

Finance Department, Government of Maharashtra

Mumbai, dated the 9th February, 2014

OFFICE MEMORANDUM

Subject: The business of banking by banking companies under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 2000, regarding.

1. The undersigned is directed to say that references have been received in the Finance Department, Government of Maharashtra on the manner in which the business of banking by banking companies is to be regulated under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 2000.

2. The matter has been examined. Every banking company carrying on the business of banking shall make an application in Form H to the Registrar of Co-operative Societies within twenty-one days, accompanied by a fee of two thousand rupees.

3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the business of banking is undertaken, and the Registrar of Co-operative Societies shall dispose of it within twenty-one days of its receipt.

4. Difficulties, if any, in the implementation of this office memorandum may be brought to the notice of the Finance Department, Government of Maharashtra.

(Secretary to Government)