The Banning of unregulated Deposit Schemes Act, 2019

This edition of The Banning of Unregulated Deposit Schemes Act, 2019 (No. 21 of 2019) provides the complete statutory text enacted to prohibit unregulated deposit schemes and protect depositors from fraudulent financial activities. Presented in a clear and authoritative Bare Act format, it is designed for students, legal practitioners, compliance professionals, and financial sector regulators who require precise and updated legislative material.

This compilation also includes the Banning of Unregulated Deposit Schemes Rules, 2020 (SO 663(E), dated 12-2-2020), ensuring comprehensive coverage of the operational framework, compliance mechanisms, and procedural requirements under the law.

The Act and Rules collectively outline:
• Provisions defining regulated and unregulated deposit schemes
• Prohibitions on solicitation, acceptance, or promotion of unregulated deposits
• Duties and liabilities of deposit takers
• Powers of competent authorities and designated courts
• Attachment, investigation, and recovery mechanisms
• Penalties, prosecution, and enforcement procedures

Structured for ease of reference, this 2026 edition serves as an essential resource for understanding the legal safeguards aimed at curbing illicit financial schemes and strengthening depositor protection in India.