Section 45-IC: Reserve fund

Every non-banking financial company shall create a reserve fund and transfer therein a sum not less than twenty per cent of its net profit every year as disclosed in the profit and loss account before any dividend is declared.
No appropriation of any sum from the reserve fund shall be made by the non-banking financial company except for the purpose as may be specified by the Reserve Bank from time to time and every such appropriation shall be reported to the Reserve Bank within twenty-one days from the date of such withdrawal.

Every non-banking financial company shall create a reserve fund and transfer therein a sum not less than twenty per cent of its net profit every year as disclosed in the profit and loss account before any dividend is declared.
No appropriation of any sum from the reserve fund shall be made by the non-banking financial company except for the purpose as may be specified by the Reserve Bank from time to time and every such appropriation shall be reported to the Reserve Bank within twenty-one days from the date of such withdrawal.

Every non-banking financial company shall create a reserve fund and transfer therein a sum not less than twenty per cent of its net profit every year as disclosed in the profit and loss account before any dividend is declared.
No appropriation of any sum from the reserve fund shall be made by the non-banking financial company except for the purpose as may be specified by the Reserve Bank from time to time and every such appropriation shall be reported to the Reserve Bank within twenty-one days from the date of such withdrawal.

Every non-banking financial company shall create a reserve fund and transfer therein a sum not less than twenty per cent of its net profit every year as disclosed in the profit and loss account before any dividend is declared.
No appropriation of any sum from the reserve fund shall be made by the non-banking financial company except for the purpose as may be specified by the Reserve Bank from time to time and every such appropriation shall be reported to the Reserve Bank within twenty-one days from the date of such withdrawal.