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Maitaning liquid assets

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 April 2012 As per rule 3A it is Required that Company Accepting deposit from public Required to Maintain 15% liquid assets.

now, question is 15% of deposit Maturing During year? or 15% of all deposits Accepted During the year?
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Ajay Mishra

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Ajay Mishra (Expert)
24 April 2012 Hi

The amount for which the above deposits will be made will not be less than 15% of the amount of deposits maturing up to 31st March of the following year and the above said deposit will not be utilised for any purpose other than the repayment of deposits maturing during the year up to 31st March of the following year.

For example:

If Rs. 750,00,000 matures as on 31.03.2012 then it is required to deposit up to 30.04.2012 of rs. 1,12, 50,000 (15%)in specified manner.


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