Under Section 10(1) of the Banning of Unregulated Deposit Schemes Act, 2019, every deposit taker…
Section 10(1) requires every deposit taker that commences or carries on business on or after the commencement of the Act to "intimate the authority referred to in…
Choose your answer
Under Section 10(1) of the Banning of Unregulated Deposit Schemes Act, 2019, every deposit taker commencing business after commencement of the Act shall:
Answer and explanation
Correct answer B
Section 10(1) requires every deposit taker that commences or carries on business on or after the commencement of the Act to "intimate the authority referred to in sub-section (1) of section 9" about its business. That is the online-database authority, not the Competent Authority or a Designated Court.