The Government of India is responsible for the designing and minting of coins in various denominations.

The credit concentration norms are applicable to commercial transactions only. Advance deposits of money as security for performance of some contract between the two parties, like office premises, advance deposits with the Government authorities towards services, etc. are not governed by the credit concentration norms.

If an NBFC defaults in repayment of deposit, the depositor can approach Company Law Board or Consumer Forum or file a civil suit in a court of law to recover the deposits. NBFCs are also advised to follow a grievance redress procedure as indicated in reply to question 57 below. Further, at the level of the State Government, the State Legislations on Protection of Interest of Depositors (in Financial Establishments) empowers the State Governments to take action even before the default takes place or complaints are received from depositors. If there is perpetration of an offence and if the intention is to defraud, the State Government can even attach properties.

When an NBFC fails to repay any deposit or part thereof in accordance with the terms and conditions of such deposit, the Company Law Board (CLB) either on its own motion or on an application from the depositor, directs by order the Non-Banking Financial Company to make repayment of such deposit or part thereof forthwith or within such time and subject to such conditions as may be specified in the order. After making the payment, the company will need to file the compliance with the local office of the Reserve Bank of India.

As explained above, the depositor can approach CLB by mailing an application in prescribed form to the appropriate bench of the Company Law Board according to its territorial jurisdiction along with the prescribed fee.

Indian Banks’ Association (IBA) has dispensed with the practice of prescribing service charges to be levied by banks for various services rendered by them. With effect from September 1999, the Reserve Bank has granted freedom to banks to prescribe service charges with the approval of respective Board of Directors.

The Government of India decides on the quantity of coins to be minted on the basis of indent received from the Reserve Bank on yearly basis.

No. The Prudential Norm Return should be certified by the company’s Statutory Auditors only and not by any other Chartered Accountant.

A The RBI regulations are aimed at protecting the depositors' interest indirectly. The Bank also exercises Off-site Surveillance and/or On-site Inspection of NBFCs. The RBI, however, does not guarantee or offer insurance cover to public deposits of NBFCs.

The Reserve Bank has instructed the banks to accept coins for transactions and exchange at all their branches. The public can continue to accept these coins as legal tender in all their transactions without any hesitation. A press release in this regard can be accessed at the following link: /en/web/rbi/-/press-releases/public-can-continue-to-accept-all-the-coins-as-legal-tender-rbi-47414

The details of addresses and territorial jurisdiction of the bench officers of CLB are as under:

S. No.	Benches	Jurisdiction	Telephone No.
1.	Company Law Board Principal Bench Paryavaran Bhawan B-Block, 3rd Floor C.G.O. Complex Lodhi Road,New Delhi – 110 003	All States & Union Territories	011 – 24366126
2.	Company Law Board New Delhi Bench Paryavaran Bhawan B-Block, 3rd Floor C.G.O. Complex Lodhi Road,New Delhi – 110 003	States of Delhi, Haryana, Himachal Pradesh, Jammu & Kashmir, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand and Union Territories of Chandigarh.	011 – 24363671, 011 – 24362324
3.	Company Law Board Kolkata Bench 5, Esplande Row(West) Kolkata – 700 001	States of Arunachal Pradesh, Assam, Bihar, Manipur, Meghalaya, Nagaland, Orissa, Sikkim, Tripura, West Bengal, Jharkhand and Union Territories of Andaman and Nicobar Island and Mizoram.	033 – 22486330
4.	Company Law Board Mumbai Bench N.T.C. House, 2ND Floor, 15 Narottam Morarjee Marg, Ballard Estate, Mumbai – 400 038	States of Goa, Gujarat, Madhya Pradesh, Maharashtra, Chhattisgarh and (Union Territories of Dadra and Nagar Haveli and Damman and Diu)	022 – 22619636
5.	Company Law Board, Chennai Bench Corporate Bhawan (UTI Building), 3rd Floor, No. 29 Rajaji Salari, Chennai – 600001.	States of Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Union Territories of Pondicherry and Lakshadweep Island.	044 – 25262791