NBFCs are doing functions similar to banks. What is difference between banks & NBFCs ?
1. NBFC cannot accept demand deposits
2. NBFCs do not form part of the payment and settlement system
3. NBFCs cannot issue cheques drawn on itself
Choose the correct option from the codes given below:

Answer: [D] 1, 2 & 3

All given statements are correct

This question is a part of GKToday's Integrated IAS General Studies Module