How can a company invite public deposits through advertisements? What are the details required to be included in the advertisements?
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Answer Posted / Prashantkumar
To invite public deposits, a company must comply with specific regulations and include certain information in their advertisement. The advertisement should clearly state the name of the company, the interest rate offered on deposits, minimum deposit amounts, duration of the deposit scheme (fixed or flexible), withdrawal rules, and any penalties for early withdrawal. Adherence to Reserve Bank of India (RBI) guidelines is essential.
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