1.

Justify the following statement.All companies cannot accept deposits from the public.

Answer»
  • Accepting deposits from the public is an important source of raising funds for a company.
  • The company needs to follow certain terms and conditions while collecting deposits from the public.
  • Similarly, on the other side, provisions issued by the Central Government, Companies Rules 2014, and directives issued by the Reserve Bank of India do not allow companies to accept deposits.
  • Banking companies, Non-Banking Finance Companies, Housing Finance companies are not allowed to accept deposits.
  • Thus, it is rightly said, that all companies cannot accept deposits from the public.


Discussion

No Comment Found

Related InterviewSolutions