Section 18, Bilateral Netting Qualified Financial Contracts Act, 2020 [S29-VMV]
As at 7 September 2026. In force from 16 March 2020.
18. Registration of depositors.—(1) Every depositor shall, within sixty days from the commencement of this Act or, where such person begins the making of deposits after such commencement, within sixty days from the date of such beginning, make an application for registration to the Reserve Bank in Form A, accompanied by a fee of five hundred rupees. (2) The Reserve Bank shall, on being satisfied that the application is in order, register the applicant and issue a certificate of registration in such form as may be prescribed. (3) No depositor shall carry on the making of deposits unless registered under this section.
Defined terms in this text (1)
Reserve Bank: Section 2, Bilateral Netting Qualified Financial Contracts Act, 2020 [S29V4Y] (In this Act, unless the context otherwise requires,—): "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934)
Reserve Bank: 24 more definitions.
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