Question

    In which year was the Banning of Unregulated Deposit

    Schemes Act enacted in India?
    A 2016 Correct Answer Incorrect Answer
    B 2018 Correct Answer Incorrect Answer
    C 2019 Correct Answer Incorrect Answer
    D 2017 Correct Answer Incorrect Answer

    Solution

    The Banning of Unregulated Deposit Schemes Act was enacted in 2019 when the Indian Parliament passed this legislation to establish protective mechanisms for vulnerable depositors. This law was specifically designed to help individuals recover their invested funds from potentially fraudulent schemes and to regulate the deposit-taking landscape in India.

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