GK
IMPORTANT ACTS OF THE PARLIAMENT OF INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1956
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1962
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2000
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2007
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Detailed explanation-1: -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-2: -NBFCs Question 3 Detailed Solution A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 or Companies Act, 2013. They are mainly engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government.
Detailed explanation-3: -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. In NBFC, Foreign Investments up to 100% are allowed.