➢ When depositing money, insist on a proper receipt for each and every deposit made with the bank / NBFC / company.
➢ The receipt should be duly signed by an officer authorized by the company and should state, inter alia, the date of the deposit, the name of the depositor, the amount in words and figures, rate of interest payable, maturity date and amount.
➢ In the case of brokers / agents, etc., collecting public deposits on behalf of NBFCs, verify that the brokers / agents are duly authorized for the purpose by the concerned NBFC.
➢ Remember that the Deposit Insurance facility is not available to depositors of NBFCs.

Source: Reserve Bank of India.

Leave a Reply

Your email address will not be published.