Procedure for Accepting Deposits from Public

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  1. Hold Board Meeting
  2. Hold a General Meeting
  3. Hold Board Meeting
  4. Appoint Banker
  5. Obtain Credit Rating
  6. Appoint Deposit Trustee
  7. Take Deposit Insurance
  8. File a copy of advertisement with Registrar of companies
  9. Advertisement to the public
  10. Upload the advertisement on the company’s website
  11. Collect application form and money
  12. Issue Deposit Receipt
  13. Create charge on assets
  14. Make entries in Register of Deposits
  15. File Return of Deposits with Registrar of Companies
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