Section 39, Banning of Unregulated Deposit Schemes Act, 2019 [S29-9A0]
As at 7 September 2026. In force from 4 June 2019.
39. Registration of financials institution.—(1) Every financial institution shall, within sixty days from the commencement of this Act or, where such person begins the business of a financial institution 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 financial institution shall carry on the business of a financial institution unless registered under this section.
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.
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