INNOVATION AND CREATIVITY
INNOVATION IN ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is the principle business carried out by NBFC?
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Hire purchase
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Housing Finance
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Investment Loan
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All the options
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Explanation:
Detailed explanation-1: -These are institutions which are principally engaged in getting deposits under any specific scheme in installments or a lump sum through contributions. The RBI has defined the principal business activity of any NBFC as financial activity.
Detailed explanation-2: -NBFC is a company with its primary business of receiving deposits.
Detailed explanation-3: -They are mainly engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government. NBFCs are not engaged in agricultural activities or industrial activities.
There is 1 question to complete.