Which of the following function/s of banks cannot be carried out by an NBFC?

NBFCs cannot accept demand deposits

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NBFCs cannot issue cheques drawn on itself and dont form part of the whole payment and settlement system

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People who deposit at an NBFC do not have the facilities of Deposit Insurance and Credit Guarantee Corporation

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All of these

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Solution

The correct option is D All of these
Since NBFC's do not have functions of a regular bank like accepting deposits, they have lesser regulation.

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The cash book shows a bank balance of Rs. 7,800. On comparing the cash book with Passbook, the following discrepancies were noted

(i) Cheque deposited in the bank but not credited, Rs. 3,000.

(ii) Cheque issued but not yet presented for payment, Rs. 1,500.

(iii) Insurance premium paid by the bank, Rs. 2,000.

(iv) Bank interest credit by the bank, Rs. 400.

(v) Bank charges, Rs. 100.

(vi) Directly deposited by a customer, Rs. 4,000.

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