Which is incorrect about NBFC (Non-Banking Financial Company) ?

Question

TuteeHUB · Accepted Answer

deposit insurance facility of Deposit Insurance and Credit Guarantee Corporati n is not available to depositors of NBFCs, unlike in case of banks

TuteeHUB · Answer

The deposits with NBFCs are not insured

TuteeHUB · Answer

NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself

TuteeHUB · Answer

NBFCs cannot offer interest rates higher than the ceiling rate prescribed by RBI from time to time. The present ceiling is 12.5 per cent per annum

TuteeHUB · Answer

None of these

1.	Which is incorrect about NBFC (Non-Banking Financial Company) ?
A.	The deposits with NBFCs are not insured
B.	deposit insurance facility of Deposit Insurance and Credit Guarantee Corporati n is not available to depositors of NBFCs, unlike in case of banks
C.	NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself
D.	NBFCs cannot offer interest rates higher than the ceiling rate prescribed by RBI from time to time. The present ceiling is 12.5 per cent per annum
E.	None of these
Answer» B. deposit insurance facility of Deposit Insurance and Credit Guarantee Corporati n is not available to depositors of NBFCs, unlike in case of banks

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