Deposit Trustee

Deposit Trustee

In terms of the RBI / NHB rules and regulations, NBFC or HFC which is entitled to accept the deposits are required to maintain a requisite SLR against the public deposits which is accepted by such NBFC / HFC. Accordingly, MCTSL acts as a Public Deposit / SLR Trustee for such NBFCs / HFCs in respect of deposit accepted by them and the charge on securities (as may be required) has been created in favor of MCTSL as per the requirement of RBI / NHB

Scope of Service

  • MCTSL ensures that the NBFC / HFC has executed the Trust Deed
  • MCTSL ensures that the NBFC / HFC create the charge with the Registrar of Companies (ROC).
  • MCTSL ensures that the lien is marked on the FDs pledged with MCTSL.
  • MCTSL ensures that the it has called for the various returns such as NBS1, NBS2 & NBS3 from the NBFCs / HFCs to as furnished by it to RBI / NHB.