Receipts to be issued for deposits

Every Financial Establishment shall, for every amount received by it as deposit, furnish to the depositor or his agent a receipt containing the date of deposit, the name and address of the depositor, the amount received in figures and words, the rate of interest and the date on which the deposit is repayable, and such receipt shall be signed by an officer authorized by the Financial Establishment in this behalf: Provided that if such receipt pertains to installments subsequent to the first installment of a recurring deposit, it need not contain particulars other than the name of the depositor, the date of receipt and the amount deposited.