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Section 45 J - Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money : RBI Act 1934

What is the meaning of Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money? Section 45 J of Reserve Bank of India Act 1934

 

 

Section 45-J of RBI Act 1934 : "Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money"

The Bank may, if it considers necessary in the public interest so to do, by general or special order,-

(a) regulate or prohibit the issue by any non-banking institution of any pros-pectus or advertisement soliciting deposits of money from the public; and

(b) specify the conditions subject to which any such prospectus or advertisement, if not prohibited, may be issued.

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