Chapter IIIB — Non-Banking Institutions and Financial Institutions
Section 45QA: Power to order repayment of deposit
Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026
Section 45QA provides a statutory remedy for repayment of deposits accepted by an NBFC where repayment is due and the company has failed to repay, through the competent forum/authority contemplated by the current legal framework.
Operative provisionOfficial sources mappedProvision-specific decode
Finin2min - Section 45QA in 2 minutes
Statutory structure and clause / subsection decode
This map separates the operative limbs of this provision so thresholds, powers, conditions and exceptions are not collapsed into a single summary.
Rule 1
The remedy focuses on depositor repayment and can operate alongside RBI supervisory action
Rule 2
the claimant must establish the deposit, maturity/repayment entitlement and default.
Connected rule
Read the provision with current public-deposit Directions and the institutional changes affecting the forum that exercises the relevant functions under company/NCLT law.
Worked practical example
Facts. If an NBFC merely delays repayment without a valid contractual or regulatory basis, the depositor should map the claim to Section 45QA and the competent current forum rather than rely only on a consumer complaint.
Compliance points and common mistakes
- Do not decide the issue from the heading alone. Map the facts to the operative words of Section 45QA and to each relevant subsection, clause, proviso or explanation shown above.
- Keep the statutory question separate from the operational overlay. Read the provision with current public-deposit Directions and the institutional changes affecting the forum that exercises the relevant functions under company/NCLT law.
- Do not convert an exception, exemption or discretionary RBI/Government power into an automatic entitlement. Record the authority, conditions and effective date.
- Where the provision is historical, omitted or repealed, state that status prominently and do not present it as a current compliance obligation.
Connected provisions and instruments
Questions and answers
What is the purpose of Section 45QA?
Power to order repayment of deposit: Section 45QA provides a statutory remedy for repayment of deposits accepted by an NBFC where repayment is due and the company has failed to repay, through the competent forum/authority contemplated by the current legal framework.
Which statutory limb should be checked first?
Rule 1 - The remedy focuses on depositor repayment and can operate alongside RBI supervisory action
What is the next legal boundary?
Rule 2 - the claimant must establish the deposit, maturity/repayment entitlement and default.
What record should support the conclusion?
Section 45QA file evidence: A depositor file should contain the deposit receipt/contract, proof of payment, maturity terms, demand, non-payment and any restructuring/renewal communication.
Primary sources
- Department of Financial Services - consolidated RBI Act (states amendments through Finance Act, 2022)
- India Code - Reserve Bank of India Act, 1934
Source control for Section 45QA: use the official consolidated RBI Act for the statutory text and footnotes, then separately reconcile any post-Finance Act 2022 amendment, commencement notification or RBI instrument relevant to the event date.