Safeguarding Your Investments: The Banking Regulation Act, 1949, as amended by the Banking Regulation (Amendment) Act, 2023, commonly known as the BUDS Act, is a significant legislative step aimed at safeguarding the interests of depositors and promoting financial stability. This act empowers the Reserve Bank of India (RBI) to regulate and supervise entities accepting deposits from the public, thereby curbing unregulated deposit-taking activities. BUDS Act: A Shield Against Unregulated Deposits The Need for the BUDS Act In recent years, there has been a surge in unregulated deposit-taking activities by entities that are not authorized to accept deposits from the public. These entities often offer attractive interest rates, luring unsuspecting investors. However, such unregulated deposits pose significant risks to depositors, as they are not protected by the Deposit Insurance and Credit Guarantee Corporation (DICGC). To address this issue, the BUDS Act introduces several key provisions: How the BUDS Act Protects Your Investments By implementing the BUDS Act, the government aims to protect the interests of depositors and instill confidence in the financial system. Here’s how the act safeguards your investments: Rajendra Law Office LLP: Your Trusted Legal Advisor Navigating the complex legal landscape of the BUDS Act can be challenging. Rajendra Law Office LLP, a leading law firm in Chennai, offers comprehensive legal services to individuals and businesses affected by the act. Our team of experienced lawyers provides expert guidance on a wide range of legal issues, including: FAQs: BUDS Act and Investor Protection Conclusion The BUDS Act is a significant […]
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The Liberalised Remittance Scheme (LRS) is indeed a scheme introduced by the Reserve Bank of India (RBI) to facilitate Indian residents to remit a certain amount of money abroad for various permissible current or capital account transactions. In fact, The LRS was first introduced in 2004 and allows resident individuals to remit up to USD 2,50,000 per financial year for investment or expenditure purposes, without seeking prior approval from the RBI. Legal Services for Liberalised Remittance Scheme at Rajendra Law Office Our Services Expertise in Liberalised Remittance Scheme Our team of lawyers indeed has extensive experience in advising clients on Liberalised Remittance Scheme [LRS] compliance and assisting them with navigating the regulatory framework for capital and current account transactions. Of course, We have a thorough understanding of the RBI’s guidelines and regulations related to the LRS, and we stay up-to-date with any changes or updates to the rules. Client Satisfaction At Rajendra Law Office, we are committed to providing our clients with exceptional legal services and ensuring their complete satisfaction. As a matter of fact, We work closely with our clients to understand their specific needs and provide tailored solutions to meet their requirements. Other Popular Pages Contact Us If you have any questions or require legal assistance with the Liberalised Remittance Scheme – LRS, please contact us at Rajendra Law Office. Finally, Our team of experienced lawyers will be happy to assist you. Address Contact Details Rajendra Law OfficeAdvocates & Legal Consultants323/156, #14, 2nd Floor, Andhra Insurance Building,Thambu Chetty […]
