Question : Which of the following is a function of a non-banking financial company (NBFC)?
Option 1: Issuing currency notes
Option 2: Accepting deposits from the public
Option 3: Managing the foreign exchange reserves of India
Option 4: None of the above
Answer (1)
25th Jan, 2024
Correct Answer: Accepting deposits from the public
Solution : The correct answer is (b). Accepting deposits from the public
NBFCs are authorized to accept deposits from the public, although the nature and terms of these deposits may vary depending on the regulations governing the specific NBFC. They are subject to certain regulatory guidelines and restrictions set by the Reserve Bank of India (RBI) regarding deposit-taking activities.
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