Under the Banning of Unregulated Deposit Schemes Act, 2019, repayment guaranteed by the appropriate…
Section 2(4)(c) of the Banning of Unregulated Deposit Schemes Act excludes any amount whose repayment is guaranteed by the appropriate Government from the definition of…
Choose your answer
Under the Banning of Unregulated Deposit Schemes Act, 2019, repayment guaranteed by the appropriate Government falls under:
Answer and explanation
Correct answer B
Section 2(4)(c) of the Banning of Unregulated Deposit Schemes Act excludes any amount whose repayment is guaranteed by the appropriate Government from the definition of deposit, so it falls under this exemption, not within an included deposit or an unregulated scheme.