Standing Order No. 2574/2019 of the Revenue Department, Government of Maharashtra dated 24th October, 2019 on the business of a business correspondent [C1B-DM7]

Standing Order No. 2574/2019

GOVERNMENT OF MAHARASHTRA

Revenue Department, Government of Maharashtra

Mumbai, dated the 24th October, 2019

STANDING ORDER

To

All Nodal Officers,

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

In exercise of the powers conferred by section 9 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 2000 (Maharashtra Act 16 of 2000), the Revenue Department, Government of Maharashtra hereby issues the following Standing Order for the guidance of all officers subordinate to it:

1. References have been received seeking clarification on the manner in which section 9 applies to the business of a business correspondent by business correspondents.

2. The matter has been examined. Every business correspondent carrying on the business of a business correspondent shall make an application in Form F to the Deposit Insurance Corporation within forty-five days, accompanied by a fee of five thousand rupees.

3. The Nodal Officer shall ensure that advance is dealt with as directed above, and shall report compliance to the Deposit Insurance Corporation within forty-five days.

4. Difficulties, if any, in the implementation of this standing order may be brought to the notice of the Revenue Department, Government of Maharashtra.

(Secretary to Government)