BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following NBFCs are engaged in the principal business of financing physical assets?
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Investment Company
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Loan Companies
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Asset Finance Company
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Infrastructure Finance Company
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Explanation:
Detailed explanation-1: -Notes: The Asset Finance Company is the financial institution engaged in the principal business of financing physical assets that correspond to productive/economic activity such as machinery, automobile, tractors, material handling equipment, power generators, etc.
Detailed explanation-2: -The AFC is also known as a non-banking financial institution (NBFC).
Detailed explanation-3: -As per AS 26, Financial Asset includes all deposits and investments in Shares, Debentures, etc.
There is 1 question to complete.