2016
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
New Beginnings Family Church
|
|
|
Non-Banking Financial Company
|
|
|
New Beginning Fellowship Church
|
|
|
North Beach Football Club
|
Detailed explanation-1: -A bank is a legally recognised financial institution with the mission of offering consumers financial services. NBFCs are businesses that offer individuals banking-like services without having a bank licence. Banks take deposits and lend money. NBFC does not take deposits or make loans.
Detailed explanation-2: -NBFC focuses on business related to loans and advances, acquisition of shares, stock, bonds, debentures, securities issued by government or local authority or other securities of like marketable nature, leasing, hire-purchase, insurance business, chit business.
Detailed explanation-3: -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.