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 22 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 22 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 22 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, 2019, § 3 (India).

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Tuesday, 28 July 2026

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Table of Contents

The Banning of Unregulated Deposit Schemes Act, 2019

Chapter IIB — anning of Unregulated Deposit Schemes

Section 3

Banning of Unregulated Deposit Schemes

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

the Unregulated Deposit Schemes shall be banned; and
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.

Related Sections

Fraudulent default in Regulated Deposit Schemes

BUDS Act

§3

Banning of Unregulated Deposit Schemes

BUDS Act

§5

Wrongful inducement in relation to Unregulated Deposit Schemes

BUDS Act

§6

Certain scheme to be Unregulated Deposit Scheme

BUDS Act

Printed from Law on Tips • The Banning of Unregulated Deposit Schemes Act, 2019

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Table of Contents

The Banning of Unregulated Deposit Schemes Act, 2019

Chapter IIB — anning of Unregulated Deposit Schemes

Section 3

Banning of Unregulated Deposit Schemes

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

the Unregulated Deposit Schemes shall be banned; and
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.