7. Furnishing of receipts to depositors

(1) Every miscellaneous non-banking company shall furnish to every depositor ¹[or group of joint depositors] or his agent, unless it has done so already, a receipt for every amount which has been or which may be received by the company by way of deposit before or after the date of commencement of these Directions.

(2) The said receipt shall be duly signed by an officer entitled to act for the company in this behalf and shall state the date of deposit, the name of the depositor, the amount in words and figures received by the company by way of deposit, the rate of interest payable thereon and the date on which the deposit is repayable.

Note :

1.  Inserted, vide Notification No.DFC(COC) 65 DG(T)-92 dated June 17, 1992