GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When did the draft guidelines for building grievance redressal mechanism within NBFCs (Non-Banking Financial Companies) publish?
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April 5, 2006
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May 26, 2006
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June 29, 2007
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September 30, 2005
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Explanation:
Detailed explanation-1: -Whereas NBFC provides banking services to people without carrying a bank license. NBFC is incorporated under the Companies Act, whereas a bank is registered under the Banking Regulation Act 1949. NBFCs are not allowed to accept deposits that are repayable on demand, whereas banks accept demand deposits.
Detailed explanation-2: -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.
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