Question : Which of the following is a feature of a non-banking financial company (NBFC)?
Option 1: Accepting deposits from the public
Option 2: Regulated by the Reserve Bank of India (RBI)
Option 3: Providing credit facilities
Option 4: None of the above
Correct Answer: Providing credit facilities
Solution : The correct answer is (c). Providing credit facilities
NBFCs are financial institutions that provide various financial services and products similar to traditional banks but without holding a banking license. One of the primary functions of NBFCs is to provide credit facilities, including loans, advances, asset financing, and other forms of credit to individuals and businesses.
NBFCs play a crucial role in providing credit and financial services to individuals and businesses, especially those who may have limited access to traditional banking services.
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