Public deposits refer to unsecured deposits invited by public companies primarily to finance working capital needs. A company wishing to invite public deposits makes an announcement in the newspapers. Any member of the public can fill out the prescribed form and deposit the money into the company. The company issues a deposit receipt. This receipt is a recognition of the company's debt. The terms and conditions of the deposit are printed on the back of the receipt. The interest rate of public deposits depends on the period of deposit and reputation of the company.
A company can invite public deposits for a period of six months to three years. Therefore, public deposits are primarily a source of short-term funding. However, deposits can be renewed from time to time. The ease of renewal allows companies to use public deposits as medium-term financing. The public deposits of a company can not exceed 25 percent of its share capital and free reserves. Since these deposits are not guaranteed, the company that has public deposits must set aside 10 percent of deposits due at the end of the year. The amount thus set aside can only be used to pay for such deposits.
Aims and objectives
• Promote, encourage, assist, finance, organize and assist in improving the productive capacity of degraded lands and thus create additional employment opportunities through appropriate conservation, restoration and cultural practices including tree crops, fish farming ,. Wood gasifiers and other technologies, etc .; Among the rural population, schoolchildren, young people, in particular belonging to scheduled castes and tribes and other weaker sections, with a view to achieving ecological stability and rural development on the basis of no loss-free benefits.
• Assist village communities, private and public sector corporations, voluntary agencies and other institutions to establish plantations of suitable tree species with the cooperation and assistance, where necessary, of financial institutions and government agencies.
• Carry out the programs of the Society through the assistance and cooperation of educational institutions.
• Assist in establishing linkages with financial institutions, rural communities and government agencies to establish plantations of suitable tree species and related activities.
• Provide training programs for villagers and the corporate and voluntary sectors to strengthen their afforestation programs through better use of land and water resources.
• Encourage and sponsor research on fast growing wood species for fuel, fodder, fruit, timber, ornamental trees, etc., and undertake pilot projects and other related research.
• Provide technical assistance to agencies interested in their afforestation and land use efforts.
• Encourage and establish groups and associations of persons and related organizations and establish links with similar societies and institutes in India and elsewhere.
• Disseminate knowledge and information to the business sector, voluntary agencies, researchers and interested public through the creation of a magazine and other related media, whether free or not.
• Provide subsidies, subsidies and financing directly to institutions and agencies that need assistance for their programs related to the objectives of the Society.
• Collaborate and assist government agencies and local authorities in matters related to the promotion of wasteland development programs and other objects of the Society.
• Raise funds and accept donations (in cash or in kind) subscriptions, donations of money, securities, goods of any kind and assume and accept the management of any donation, trust fund or fund that is not incompatible with the objectives of the Society .
• Accept donations, assistance and funds on behalf of implementing agencies from the Government and / or foreign donors in the manner indicated above and obtain the necessary accounts and information on the physical and financial progress of the plans.
• Invest funds of the Company that are not immediately required in deposits in banks or in any securities authorized under current laws in force from time to time for the fulfillment of the Company's objectives.
• Make all acts, facts or legal things, either alone or in conjunction with other organizations as incidental or auxiliary or conducive to the achievement of any of the above objects.