What is a NBFC?
Answer / deepak
A non-banking financial company (NBFC) is a company registered under the Companies Act, 1956 and is engaged in the business of loans and advances, acquisition of shares/stock/bonds/debentures/securities issued by government, but does not include any institution whose principal business is that of agriculture activity, industrial activity, sale/purchase/construction of immovable property. NBFCs are doing functions akin to that of banks; however there are a few differences:
(i)A NBFC cannot accept demand deposits (demand deposits are funds deposited at a depository institution that are payable on demand -- immediately or within a very short period -- like your current or savings accounts.)
(ii) it is not a part of the payment and settlement system and as such cannot issue cheques to its customers; and
(iii) Deposit insurance facility of DICGC is not available for NBFC depositors unlike in case of banks.
Is This Answer Correct ? | 0 Yes | 0 No |
What is the amount of loan waiver to the farmers, which the government has raised to 20%?
What is the Full form of SWIFT and what are the features and benefits?
in stock market i find the term futures and options ? what was the meaning of that sensex futures and options
6 Answers Capital IQ, Genpact,
What are the different departments in RBI?
What is Balanced Budget?
0 Answers State Bank Of India SBI,
What in external debt economy?
What are 'capital receipts'?
What is the treasury stock method?
How will you define the role of SEBI?
what is the role of RM? service banker?
What is inflation? It is good or bad?
What is European Market?