State with reasons, whether the following statement is True or False:
Reserve Bank of India cannot accept deposits from public.
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And now we give you the correct answer:
Deposits have been defined under the Companies Act, 2013 (“2013 Act“) to include any receipt of money by way of deposit or loan or in any other form by a company. However deposits do not include such categories of amounts as may be prescribed in consultation with the Reserve Bank of India (“RBI”).