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Section 9, Banning of Unregulated Deposit Schemes Act, 2019 [S29-8C8]

As at 7 September 2026. In force from 4 June 2019.

In Banning of Unregulated Deposit Schemes Act, 2019 [A11-PAS]. This text from 4 June 2019. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 9, Banning of Unregulated Deposit Schemes Act, 2019 [S29-8C8]. Machine: S29-8C8.

9. Power to issue directions.—(1) The Reserve Bank may, by order in writing, direct any financial institution to take such measures in relation to the business of a financial institution as may be specified in the order, and such person shall comply with the direction within the period specified therein. (2) An order under sub-section (1) shall state the reasons on which it is made and shall be served on the person to whom it is addressed in such manner as may be prescribed.

Defined terms in this text (2)

financial institution: Schedule 2, Banning of Unregulated Deposit Schemes Act, 2019 [S2985T] (In this Act, unless the context otherwise requires,—): "financial institution" means a financial institution as defined in clause (c) of section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934)

financial institution: 25 more definitions.

Reserve Bank: Schedule 2, Banning of Unregulated Deposit Schemes Act, 2019 [S2985T] (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.

Made under this section, or naming it (2)

Notification S.O. 975(E) of the Department of Financial Services dated 5th March, 2025 under section 9 [N15-03G], 5 March 2025, in force. Recital: "In exercise of the powers conferred by section 9 of the Banning of Unregulated Deposit Schemes Act, 2019 (21 of 2019), the Central Government hereby appoints, with effect from the date of publication of this notification, the officers specified in the Table below to exercise the powers of the Debts Recovery Tribunal within the jurisdiction set out against each"

Notification S.O. 4213(E) of the Department of Financial Services dated 13th July, 2025 under section 9 [N15-2C6], 13 July 2025, in force. Recital: "In exercise of the powers conferred by section 9 of the Banning of Unregulated Deposit Schemes Act, 2019 (21 of 2019), the Central Government hereby directs that the powers exercisable by it under section 9 shall, subject to its control, also be exercisable by the authorised officer"

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