💨 Abstract

The Banning of Unregulated Deposit Schemes Act 2019 (BUDS Act) was enacted to protect investors from fraudulent deposit schemes. However, the Act includes capital market products like equities, mutual funds, and Alternative Investment Funds (AIFs) within its definition of "regulated deposit schemes", despite these products lacking the assurance of repayment.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖