Section 3: Banning of Unregulated Deposit Schemes

Q: What does Section 3 of The Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act) deal with?

Section 3 BUDS Act pertains to "Banning of Unregulated Deposit Schemes". It is part of the The Banning of Unregulated Deposit Schemes Act, 2019, a legislation enacted by the Parliament of India. Section 3 of The Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act) governs banning of Unregulated Deposit Schemes. As verified on 19 May 2026.

Q: Is Section 3 BUDS Act still in force?

Yes, Section 3 of the The Banning of Unregulated Deposit Schemes Act, 2019 is currently in force across the Republic of India.

Q: What is धारा 3 BUDS Act?

धारा 3 BUDS Act is the Devanagari Hindi reference for Section 3 of the The Banning of Unregulated Deposit Schemes Act, 2019. Section 3 of The Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act) governs banning of Unregulated Deposit Schemes. As verified on 19 May 2026.

Q: What is Dhara 3 BUDS Act?

Dhara 3 BUDS Act is the Roman Hindi reference for Section 3 of the The Banning of Unregulated Deposit Schemes Act, 2019. "Dhara" means "Section" in Hindi. Section 3 of The Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act) governs banning of Unregulated Deposit Schemes. As verified on 19 May 2026.

Q: How to cite Section 3 of The Banning of Unregulated Deposit Schemes Act, 2019?

Cite as: "Section 3, The Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act)" in legal briefs. For academic writing, use the BlueBook format: The Banning of Unregulated Deposit Schemes Act, 2019, § 3 (India).

Law on Tips Editorial Board

- On and from the date of commencement of this Act, -

(a) the Unregulated Deposit Schemes shall be banned; and

(b) no deposit taker shall, directly or indirectly, promote, operate, issue any advertisement soliciting participation or enrolment in or accept deposits in pursuance of an Unregulated Deposit Scheme.