(1) The deposit specified in sub-section (2) of section 11 of the Act shall be maintained at the principal office of the Reserve Bank.
1. Rule 5 omitted by S.O. 268(E), dated 29th March, 1985 (w.e.f. 29-3-1985).
2. Ins. by G.S.R. 236, dated 1st February, 1969 (w.e.f. 8-2-1969).
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J-:*:J- • • 138 The Banking Regulation (Companies) Rules, 1949 [Rule 6 4
(2) The value of each security deposited under sub-rule (1) shall be estimated at its market rate, ex-dividend.
(3) Securities shall be duly transferred to the Reserve Bank by the banking company.
(4) Upon receipt of a deposit under sub-rule (1) the principal office of the Reserve Bank shall, as soon as possible, send to the principal office of the banking company a certificate in Form II.