{"apiVersion":1,"release":"r-2026-09-08-012","packet":{"code":"A11PAS","written":"A11-PAS","title":"Banning of Unregulated Deposit Schemes Act, 2019","status":"As at 8 September 2026. In force from 4 June 2019.","path":"/A11-PAS","asAt":null,"sha256":null,"blocks":[{"kind":"title","segs":["Banning of Unregulated Deposit Schemes Act, 2019 [A11-PAS]"]},{"kind":"status","segs":["As at 8 September 2026. ","In force from ","4 June 2019","."]},{"kind":"line","segs":["Dates: made 4 June 2019; in force 4 June 2019; ceased none recorded. Gazette: none recorded. Band A."]},{"kind":"line","segs":["Synthetic. The words of this Act are generated by the register; its title, number and year are real."]},{"kind":"line","segs":["Cite: Banning of Unregulated Deposit Schemes Act, 2019, Act 21 of 2019 [A11-PAS]. Machine: A11-PAS."]},{"kind":"heading","segs":["Sections (62)"]},{"kind":"item","segs":["Chapter I. PRELIMINARY"]},{"kind":"item","segs":["Chapter II. RESERVE BANK"]},{"kind":"item","segs":["Chapter III. REGULATION OF THE BUSINESS OF BANKING"]},{"kind":"item","segs":["Chapter IV. REGULATION OF THE BORROWING OF MONEY"]},{"kind":"item","segs":["Chapter V. REGULATION OF THE MAKING OF DEPOSITS"]},{"kind":"item","segs":["Chapter VI. OFFENCES AND PENALTIES"]},{"kind":"item","segs":["Chapter VII. MISCELLANEOUS"]},{"kind":"item","segs":[{"text":"Section 1. Short title, extent and commencement","href":"/S29-84R"}," [S29-84R]"]},{"kind":"item","segs":[{"text":"Section 2. Definitions","href":"/S29-85T"}," [S29-85T]"]},{"kind":"item","segs":[{"text":"Section 3. Appointment of Reserve Bank","href":"/S29-86W"}," [S29-86W]"]},{"kind":"item","segs":[{"text":"Section 4. Registration of financials institution","href":"/S29-87Y"}," [S29-87Y]"]},{"kind":"item","segs":[{"text":"Section 5. Prohibition of the enforcement of security interest without licence","href":"/S29-880"}," [S29-880]"]},{"kind":"item","segs":[{"text":"Section 6. Grant of licence","href":"/S29-892"}," [S29-892]"]},{"kind":"item","segs":[{"text":"Section 7. Maintenance of records and furnishing of returns","href":"/S29-8A4"}," [S29-8A4]"]},{"kind":"item","segs":[{"text":"Section 8. Powers of authorised officer","href":"/S29-8B6"}," [S29-8B6]"]},{"kind":"item","segs":[{"text":"Section 9. Power to issue directions","href":"/S29-8C8"}," [S29-8C8]"]},{"kind":"item","segs":[{"text":"Section 10. Power to exempt","href":"/S29-8DA"}," [S29-8DA]"]},{"kind":"item","segs":[{"text":"Section 11. Registration of bankings company","href":"/S29-8EC"}," [S29-8EC]"]},{"kind":"item","segs":[{"text":"Section 12. Prohibition of the borrowing of money without licence","href":"/S29-8FE"}," [S29-8FE]"]},{"kind":"item","segs":[{"text":"Section 13. Grant of licence","href":"/S29-8GN"}," [S29-8GN]"]},{"kind":"item","segs":[{"text":"Section 14. Maintenance of records and furnishing of returns","href":"/S29-8HQ"}," [S29-8HQ]"]},{"kind":"item","segs":[{"text":"Section 15. 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Power to issue directions","href":"/S29-8T1"}," [S29-8T1]"]},{"kind":"item","segs":[{"text":"Section 24. Power to exempt","href":"/S29-8V3"}," [S29-8V3]"]},{"kind":"item","segs":[{"text":"Section 25. Registration of secureds creditor","href":"/S29-8WD"}," [S29-8WD]"]},{"kind":"item","segs":[{"text":"Section 26. Prohibition of the business of banking without licence","href":"/S29-8XF"}," [S29-8XF]"]},{"kind":"item","segs":[{"text":"Section 27. Grant of licence","href":"/S29-8Y9"}," [S29-8Y9]"]},{"kind":"item","segs":[{"text":"Section 28. Maintenance of records and furnishing of returns","href":"/S29-8ZB"}," [S29-8ZB]"]},{"kind":"item","segs":[{"text":"Section 29. Powers of authorised officer","href":"/S29-90M"}," [S29-90M]"]},{"kind":"item","segs":[{"text":"Section 30. Power to issue directions","href":"/S29-91P"}," [S29-91P]"]},{"kind":"item","segs":[{"text":"Section 31. Power to exempt","href":"/S29-92G"}," [S29-92G]"]},{"kind":"item","segs":[{"text":"Section 32. Registration of borrowers","href":"/S29-93J"}," [S29-93J]"]},{"kind":"item","segs":[{"text":"Section 33. Prohibition of the making of deposits without licence","href":"/S29-94W"}," [S29-94W]"]},{"kind":"item","segs":[{"text":"Section 34. Grant of licence","href":"/S29-95Y"}," [S29-95Y]"]},{"kind":"item","segs":[{"text":"Section 35. Maintenance of records and furnishing of returns","href":"/S29-96R"}," [S29-96R]"]},{"kind":"item","segs":[{"text":"Section 36. Powers of authorised officer","href":"/S29-97T"}," [S29-97T]"]},{"kind":"item","segs":[{"text":"Section 37. Power to issue directions","href":"/S29-984"}," [S29-984]"]},{"kind":"item","segs":[{"text":"Section 38. Power to exempt","href":"/S29-996"}," [S29-996]"]},{"kind":"item","segs":[{"text":"Section 39. Registration of financials institution","href":"/S29-9A0"}," [S29-9A0]"]},{"kind":"item","segs":[{"text":"Section 40. Prohibition of the enforcement of security interest without licence","href":"/S29-9B2"}," [S29-9B2]"]},{"kind":"item","segs":[{"text":"Section 41. Grant of licence","href":"/S29-9CC"}," [S29-9CC]"]},{"kind":"item","segs":[{"text":"Section 42. Maintenance of records and furnishing of returns","href":"/S29-9DE"}," [S29-9DE]"]},{"kind":"item","segs":[{"text":"Section 43. Powers of authorised officer","href":"/S29-9E8"}," [S29-9E8]"]},{"kind":"item","segs":[{"text":"Section 44. Power to issue directions","href":"/S29-9FA"}," [S29-9FA]"]},{"kind":"item","segs":[{"text":"Section 45. Power to exempt","href":"/S29-9GH"}," [S29-9GH]"]},{"kind":"item","segs":[{"text":"Section 46. Registration of bankings company","href":"/S29-9HK"}," [S29-9HK]"]},{"kind":"item","segs":[{"text":"Section 47. Prohibition of the borrowing of money without licence","href":"/S29-9JN"}," [S29-9JN]"]},{"kind":"item","segs":[{"text":"Section 48. Grant of licence","href":"/S29-9KQ"}," [S29-9KQ]"]},{"kind":"item","segs":[{"text":"Section 49. Maintenance of records and furnishing of returns","href":"/S29-9MS"}," [S29-9MS]"]},{"kind":"item","segs":[{"text":"Section 50. Powers of authorised officer","href":"/S29-9NV"}," [S29-9NV]"]},{"kind":"item","segs":[{"text":"Section 51. Power to issue directions","href":"/S29-9PX"}," [S29-9PX]"]},{"kind":"item","segs":[{"text":"Section 52. Power to exempt","href":"/S29-9QZ"}," [S29-9QZ]"]},{"kind":"item","segs":[{"text":"Section 53. Registration of depositors","href":"/S29-9R1"}," [S29-9R1]"]},{"kind":"item","segs":[{"text":"Section 54. Prohibition of the business of a financial institution without licence","href":"/S29-9S3"}," [S29-9S3]"]},{"kind":"item","segs":[{"text":"Section 55. Grant of licence","href":"/S29-9T5"}," [S29-9T5]"]},{"kind":"item","segs":[{"text":"Section 56. Penalty for contravention","href":"/S29-9V7"}," [S29-9V7]"]},{"kind":"item","segs":[{"text":"Section 57. Offences by companies","href":"/S29-9W9"}," [S29-9W9]"]},{"kind":"item","segs":[{"text":"Section 58. Appeal","href":"/S29-9XB"}," [S29-9XB]"]},{"kind":"item","segs":[{"text":"Section 59. Cognizance of offences","href":"/S29-9YD"}," [S29-9YD]"]},{"kind":"item","segs":[{"text":"Section 60. Protection of action taken in good faith","href":"/S29-9ZF"}," [S29-9ZF]"]},{"kind":"item","segs":[{"text":"Section 61. Power to make rules","href":"/S29-A0R"}," [S29-A0R]"]},{"kind":"item","segs":[{"text":"Section 62. Power to remove difficulties","href":"/S29-A1T"}," [S29-A1T]"]},{"kind":"heading","segs":["Made under"]},{"kind":"item","segs":["No recital of a power is printed."]},{"kind":"heading","segs":["Acts on (0)"]},{"kind":"item","segs":["none"]},{"kind":"heading","segs":["Acted on by (1)"]},{"kind":"item","segs":["Corresponds to: ",{"text":"Banning of Unregulated Deposit Schemes (Amendment) Bill, 2021","href":"/A12-HKA"},", 23 May 2021","."," Synthetic demonstration target."]},{"kind":"heading","segs":["Not held (1)"]},{"kind":"item","segs":["\"section 3 of the Reserve Bank of India Act, 1934\""]}],"connections":[{"title":"Section 1. Short title, extent and commencement.","path":"/S29-84R","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 2. Definitions.","path":"/S29-85T","relation":"contains","description":"Section in the current recorded arrangement. 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Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 11. Registration of bankings company.","path":"/S29-8EC","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 12. Prohibition of the borrowing of money without licence.","path":"/S29-8FE","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 13. Grant of licence.","path":"/S29-8GN","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 14. Maintenance of records and furnishing of returns.","path":"/S29-8HQ","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 15. Powers of authorised officer.","path":"/S29-8JH","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 16. Power to issue directions.","path":"/S29-8KK","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 17. Power to exempt.","path":"/S29-8MX","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 18. Registration of depositors.","path":"/S29-8NZ","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 19. Prohibition of the business of a financial institution without licence.","path":"/S29-8PS","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 20. Grant of licence.","path":"/S29-8QV","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 21. Maintenance of records and furnishing of returns.","path":"/S29-8R5","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 22. Powers of authorised officer.","path":"/S29-8S7","relation":"contains","description":"Section in the current recorded arrangement. 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Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 27. Grant of licence.","path":"/S29-8Y9","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 28. Maintenance of records and furnishing of returns.","path":"/S29-8ZB","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 29. Powers of authorised officer.","path":"/S29-90M","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 30. Power to issue directions.","path":"/S29-91P","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 31. Power to exempt.","path":"/S29-92G","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 32. Registration of borrowers.","path":"/S29-93J","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 33. Prohibition of the making of deposits without licence.","path":"/S29-94W","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 34. Grant of licence.","path":"/S29-95Y","relation":"contains","description":"Section in the current recorded arrangement. 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Maintenance of records and furnishing of returns.","path":"/S29-9DE","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 43. Powers of authorised officer.","path":"/S29-9E8","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 44. Power to issue directions.","path":"/S29-9FA","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 45. Power to exempt.","path":"/S29-9GH","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Section 46. 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Power to remove difficulties.","path":"/S29-A1T","relation":"contains","description":"Section in the current recorded arrangement. Historical arrangement is not established.","synthetic":true,"effectiveDate":null},{"title":"Banning of Unregulated Deposit Schemes (Amendment) Bill, 2021","path":"/A12-HKA","relation":"relationship","description":"Recorded relationship: corresponds to. The linked source is recorded as acting on this document. Inspect the operative text; this is not an applicability finding.","synthetic":true,"effectiveDate":"2021-05-23","recordedEffect":{"type":"corresponds_to","direction":"incoming","target":"instrument"}}],"connectionsTruncated":false,"synthetic":true,"source":{"synthetic":true,"textState":"arrangement","version":null,"versions":[]},"particulars":[{"label":"Class","value":"Act of Parliament"},{"label":"Citation","value":"Act 21 of 2019"},{"label":"Number","value":"21 of 2019"},{"label":"Authority","value":"Parliament of India"},{"label":"Assent","value":"4 June 2019"},{"label":"Published","value":"4 June 2019"},{"label":"Gazette","value":"Not recorded"},{"label":"Jurisdiction","value":"IN"}],"jurisdiction":"IN","dates":{"made":"2019-06-04","inForce":"2019-06-04","ceased":null},"changedBy":[],"quality":{"answerUse":"limited","status":"not-audited","checkedOn":null,"reason":"Stored text, not a certification of completeness, current law or personal applicability. Exact quotation matching checks wording only.","publications":[]}},"canonical":"/A11-PAS","text":"Banning of Unregulated Deposit Schemes Act, 2019 [A11-PAS]\nAs at 8 September 2026. In force from 4 June 2019.\nDates: made 4 June 2019; in force 4 June 2019; ceased none recorded. Gazette: none recorded. Band A.\nSynthetic. The words of this Act are generated by the register; its title, number and year are real.\nCite: Banning of Unregulated Deposit Schemes Act, 2019, Act 21 of 2019 [A11-PAS]. Machine: A11-PAS.\nSections (62)\nChapter I. PRELIMINARY\nChapter II. RESERVE BANK\nChapter III. REGULATION OF THE BUSINESS OF BANKING\nChapter IV. REGULATION OF THE BORROWING OF MONEY\nChapter V. REGULATION OF THE MAKING OF DEPOSITS\nChapter VI. OFFENCES AND PENALTIES\nChapter VII. MISCELLANEOUS\nSection 1. Short title, extent and commencement [S29-84R]\nSection 2. Definitions [S29-85T]\nSection 3. Appointment of Reserve Bank [S29-86W]\nSection 4. Registration of financials institution [S29-87Y]\nSection 5. Prohibition of the enforcement of security interest without licence [S29-880]\nSection 6. Grant of licence [S29-892]\nSection 7. Maintenance of records and furnishing of returns [S29-8A4]\nSection 8. Powers of authorised officer [S29-8B6]\nSection 9. Power to issue directions [S29-8C8]\nSection 10. Power to exempt [S29-8DA]\nSection 11. Registration of bankings company [S29-8EC]\nSection 12. Prohibition of the borrowing of money without licence [S29-8FE]\nSection 13. Grant of licence [S29-8GN]\nSection 14. Maintenance of records and furnishing of returns [S29-8HQ]\nSection 15. Powers of authorised officer [S29-8JH]\nSection 16. Power to issue directions [S29-8KK]\nSection 17. Power to exempt [S29-8MX]\nSection 18. Registration of depositors [S29-8NZ]\nSection 19. Prohibition of the business of a financial institution without licence [S29-8PS]\nSection 20. Grant of licence [S29-8QV]\nSection 21. Maintenance of records and furnishing of returns [S29-8R5]\nSection 22. Powers of authorised officer [S29-8S7]\nSection 23. Power to issue directions [S29-8T1]\nSection 24. Power to exempt [S29-8V3]\nSection 25. Registration of secureds creditor [S29-8WD]\nSection 26. Prohibition of the business of banking without licence [S29-8XF]\nSection 27. Grant of licence [S29-8Y9]\nSection 28. Maintenance of records and furnishing of returns [S29-8ZB]\nSection 29. Powers of authorised officer [S29-90M]\nSection 30. Power to issue directions [S29-91P]\nSection 31. Power to exempt [S29-92G]\nSection 32. Registration of borrowers [S29-93J]\nSection 33. Prohibition of the making of deposits without licence [S29-94W]\nSection 34. Grant of licence [S29-95Y]\nSection 35. Maintenance of records and furnishing of returns [S29-96R]\nSection 36. Powers of authorised officer [S29-97T]\nSection 37. Power to issue directions [S29-984]\nSection 38. Power to exempt [S29-996]\nSection 39. Registration of financials institution [S29-9A0]\nSection 40. Prohibition of the enforcement of security interest without licence [S29-9B2]\nSection 41. Grant of licence [S29-9CC]\nSection 42. Maintenance of records and furnishing of returns [S29-9DE]\nSection 43. Powers of authorised officer [S29-9E8]\nSection 44. Power to issue directions [S29-9FA]\nSection 45. Power to exempt [S29-9GH]\nSection 46. Registration of bankings company [S29-9HK]\nSection 47. Prohibition of the borrowing of money without licence [S29-9JN]\nSection 48. Grant of licence [S29-9KQ]\nSection 49. Maintenance of records and furnishing of returns [S29-9MS]\nSection 50. Powers of authorised officer [S29-9NV]\nSection 51. Power to issue directions [S29-9PX]\nSection 52. Power to exempt [S29-9QZ]\nSection 53. Registration of depositors [S29-9R1]\nSection 54. Prohibition of the business of a financial institution without licence [S29-9S3]\nSection 55. Grant of licence [S29-9T5]\nSection 56. Penalty for contravention [S29-9V7]\nSection 57. Offences by companies [S29-9W9]\nSection 58. Appeal [S29-9XB]\nSection 59. Cognizance of offences [S29-9YD]\nSection 60. Protection of action taken in good faith [S29-9ZF]\nSection 61. Power to make rules [S29-A0R]\nSection 62. Power to remove difficulties [S29-A1T]\nMade under\nNo recital of a power is printed.\nActs on (0)\nnone\nActed on by (1)\nCorresponds to: Banning of Unregulated Deposit Schemes (Amendment) Bill, 2021, 23 May 2021. Synthetic demonstration target.\nNot held (1)\n\"section 3 of the Reserve Bank of India Act, 1934\""}