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प्रश्न
Explain the following term/concept.
Deposit Repayment Reserve Account.
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उत्तर
- A Deposit Repayment Reserve Account is a special bank account that a company accepting deposits must maintain under Section 73(2)(c) of the Companies Act, 2013.
- Every company is required to deposit not less than 20% of the amount of its deposits maturing during the following financial year in a scheduled bank in this separate account.
The amount must be deposited on or before 30th April each year. - The money in the Deposit Repayment Reserve Account shall be used only for the purpose of repaying deposits when they become due and for no other purpose.
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संबंधित प्रश्न
Answer in one sentence.
When does a company create charge on it’s tangible assets?
Answer in one sentence.
What is Deposit Repayment Reserve Account?
Write a word or a term or a phrase which can substitute the following statement.
Company which can accept deposits from public up to 35% of its paid-up share capital and free reserves.
Write a word or a term or a phrase which can substitute the following statement.
Minimum tenure of a deposit.
Write a word or a term or a phrase which can substitute the following statement.
Document issued by a company to invite its members to subscribe for its Deposits.
Write a word or a term or a phrase which can substitute the following statement.
Agreement between company and Deposit Trustee.
Write a word or a term or a phrase which can substitute the following statement.
Time within which company has to issue deposit Receipt
Return of deposit must be filed every year on or before 31st March.
State whether the following statement is true or false.
Deposit can be accepted for a maximum of 36 months.
State whether the following statement is true or false.
For secured deposits, company has to create a charge on its tangible assets.
Find the odd one.
Complete the sentence:
Agency which gives ratings of the deposits of a company is called ______________.
Correct the underlined word and rewrite the following sentence.
Company issues advertisement to invite its members for subscribing to its deposits
Correct the underlined word and rewrite the following sentence.
Company appoints Credit Rating Agency to protect the interest of Depositors.
Correct the underlined word and rewrite the following sentence.
Minimum tenure of deposit is 36 months.
Explain the following term/concept.
Tenure of Deposit
Explain the following term/concept.
Secured Deposit
Explain the following term/concept.
Deposit Trustee
Explain the following term/concept.
Deposit Insurance
