Nagaland Banning of Unregulated Deposit

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Finance & Taxation Compliance The Government of Nagaland on May 15, 2024, notified Nagaland Banning of Unregulated Deposit Schemes Rules, 2023.

The following has been stated: -

•Rule 2 lays down various definitions of the terms like Suo Motu cognizance.

•Rule 3 specifies a ceiling for self-help groups.

•Rule 4 mentions the powers and duties of the competent authority.

•Rule 5 mentions the powers vested while conducting an investigation or inquiry.

They shall come into force on May 15, 2024.

The detailed rules are given in the document below.

[Notification No. FIN/GEN/BUDSO/3/19]

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Nagaland Banning of Unregulated Deposit Schemes Rules, 2023