Under the Banning of Unregulated Deposit Schemes Act, 2019, amounts received from a statutory authority…
Section 2(4)(c) excludes from "deposit" any amount received from "a statutory authority constituted under an Act of Parliament or a State Legislature". The exclusion does…
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Under the Banning of Unregulated Deposit Schemes Act, 2019, amounts received from a statutory authority constituted under an Act of Parliament are:
Answer and explanation
Correct answer B
Section 2(4)(c) excludes from "deposit" any amount received from "a statutory authority constituted under an Act of Parliament or a State Legislature". The exclusion does not depend on a Government guarantee or on repayment within any period.