Current Affairs

GK MCQs Section
Q. Consider the following statements regarding Non-Banking Financial Companies (NBFCs):
  1. NBFCs are registered under the Companies Act, 1956.
  2. NBFCs cannot accept demand deposits.
  3. All NBFCs are required to be registered with RBI.
Which of the above statements is/are correct?
Answer: 1 and 2 Only
Notes: NBFCs are registered under the Companies Act, 1956 and are prohibited from accepting demand deposits. However, not all NBFCs require registration with RBI, as certain categories like Venture Capital Funds, Merchant Banking companies, and others regulated by separate authorities are exempted. Therefore, only statements 1 and 2 are correct.
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📌 Question Number: 144 in Money, Banking, and Finance in the above course in App.