Its principal activities are the acceptance of deposits and the provision of loans and Tenge and foreign currencies.
2.
The central bank has said that acceptance of deposits either by Manappuram Finance or by Manappuram Agro Farms ( MAGRO ) is punishable with imprisonment.
3.
The court accepted that whilst acceptance of deposits was a " necessary " condition of being a bank, it was not of itself a " sufficient " condition.
4.
Founded primarily as a liquidity equalisation office for the Raiffeisen Banking Group, the company already in its first ten years of operation significantly expanded its business activities to include fields such as foreign exchange and currency transactions, lending, acceptance of deposits and investment in securities.
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