12. Ceiling on quantum of deposit:

An investment and credit company or a factor

(a) having minimum NOF as stipulated by the Bank, and

(b) complying with all the prudential norms,

shall accept or renew public deposit, together with the amounts remaining outstanding in the books of the company as on the date of acceptance or renewal of such deposit, not exceeding one and one-half times of its NOF.

Provided that an investment and credit company holding public deposits in excess of the limit of one and one-half times of its NOF shall not renew or accept fresh deposits till such time it reaches the revised limit.

Provided no matured public deposit shall be renewed without the express and voluntary consent of the depositor.