Q. Consider the following statements in reference to Non-Banking Financial Corporation (NBFCs):

Which of the statements given above is/are correct?

1 only

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2 only

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Both 1 and 2

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Neither 1 nor 2

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Solution

The correct option is A 1 only
Explanation:

Statement 1 is correct. NBFCs cannot accept deposits repayable on demand.

Statement 2 is incorrect. NBFCs engage in the business of Loans and Advances, Acquisition of stocks, equities, debt, etc issued by the government or any local authority or other marketable securities.

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Q. Which of the following is/are correct about Non-Banking Financial Companies (NBFCs)?

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Q. With reference to the Non-Banking Financial Companies (NBFCs), which of the following statements is/are correct?

Select the correct answer using the code given below:

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