BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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DBS
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DBOD
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DNBS
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UBD
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Detailed explanation-1: -The Department of Non-Banking Supervision (DNBS) is entrusted with the responsibility of regulation and supervision of Non-Banking Financial Companies (NBFCs) under the regulatory-provisions contained under Chapter III B and C and Chapter V of the Reserve Bank of India Act, 1934.
Detailed explanation-2: -Though NBFCs come under the purview of the Companies Act, they are exempted from the above Rules since they come under RBI regulation under the Reserve Bank of India Act.
Detailed explanation-3: -RESERVE BANK OF INDIA DEPARTMENT OF NON-BANKING REGULATION CENTRAL OFFICE, CENTRE I, WORLD TRADE CENTRE CUFFE PARADE, COLABA MUMBAI-400 005.
Detailed explanation-4: -A Non–Banking Financial Corporation is a company incorporated under the Companies Act 2013 or 1956. According to section 45-I (c) of the RBI Act, a Non–Banking Company carrying on the business of a financial institution will be an NBFC.
Detailed explanation-5: -As per RBI Act 1934, Reserve Bank of India (RBI) has the powers to regulate and control the Non-Banking Financial Companies. As per RBI Act, RBI can exercise surveillance, supervise, inspect, issue directions, lay down policies and regulate the Non-Banking Financial Companies (NBFC’s).