The acceptance of deposits from the public is a critical aspect of corporate finance, but not all companies are permitted to engage in this practice. According to the Companies Act 2013, only certain companies, like public limited companies and non-banking financial companies (NBFCs), are legally allowed to accept deposits from the public. However, even these companies must comply with stringent rules and regulations set by the Ministry of Corporate Affairs (MCA) and the Reserve Bank of India (RBI).
https://www.registerkaro.in/po....st/companies-act-201
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