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SC: Loans May be Treated as Deposits under MPID Act, Private Individuals as Financial Establishments - (18 May 2026)

CRIMINAL

Supreme Court has held that private individuals can fall within the definition of a “financial establishment” under the MPID Act, and that money advanced as a loan with an assurance of repayment and interest may be treated as a “deposit,” regardless of how the transaction is labelled.

Tags : DEPOSITS; LOANS; FINANCIAL ESTABLISHMENTS  

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