Question
Which of the following statement(s) about NBFCs is
incorrect? Read the following passage and answer the next 4 questions Reserve Bank of India has been regulating the financial activities of the Non-Banking Financial Companies under the provisions of Chapter III B of the Reserve Bank of India Act, 1934. With the amendment of the Reserve Bank of India Act, 1934 in January 1997, in terms of Section 45 IA of the said Act, and amendment of the National Housing Bank Act, 1987 in August 2019, in terms of Section 29 A of the National Housing Bank Act, 1987, all Non-Banking Financial Companies including Housing Finance Companies have to be mandatorily registered with the Reserve Bank of India. The credit-related matters of banks have been progressively deregulated by the Reserve Bank of India. Consistent with the policy of bestowing greater operational freedom to banks in the matter of credit dispensation and in the context of mandatory registration of NBFCs with the Reserve Bank, most of the aspects relating to the financing of NBFCs by banks have also been deregulatedSolution
·        NBFCs cannot accept demand deposits but can only accept time deposits. Even for accepting time deposits (referred to as public deposits), the NBFC should have such registration as NBFC-deposit taking, from RBI and comply with the necessary requirements. ·        As per the recent Scale Based Regulation by RBI for NBFCs, NBFCs without public funds and customer interface will always remain in the Base Layer of the regulatory structure ·        The extant NPA classification norm stands changed to the overdue period of more than  90 days for all categories of NBFCs. A glide path is provided to NBFCs in Base Layer to adhere to the 90 days NPA norm as under – 
 The glide path will not be applicable to NBFCs which are already required to follow the 90-day NPA norm.  ·        There shall be a ceiling of Rs.1 crore per borrower for financing subscription to Initial Public Offer (IPO). NBFCs can fix more conservative limits.  Please refer to the Circular RBI/2021-22/112 DOR.CRE.REC.No.60/03.10.001/2021-22 dated 12.10.2021 for more details (also refer to notes on NBFCs)
A shopkeeper purchased 80 identical articles for a total of ₹20,000. He sold 60% of these items at a 25% profit and the remaining at a 15% loss. Calcu...
If a vendor sells a coconut at Rs 14.4 he makes 10% loss. If he wants to make 25% profit, then at what price (in Rs) should he sell?
A trader advertises that he sells sugar at cost price but uses a false weight where ‘N’ grams is shown as 1 kilogram. If he earns a profit of 25% pe...
- A shopkeeper cheats his customer by using faulty weight and earns profit percent of 12% after selling. How much less the shopkeeper will sell when the cust...
A merchant bought an article at a cost price of ₹8000. He sold it to a customer at a price which is 25% more than the cost price. The customer then se...
A trader bought an article for Rs. 900 and marked it 20% above of its cost price. If he sold it after giving a discount of Rs. 45 then find the profit p...
‘X’ sold an item to ‘Y’ at 25% profit, who then sold it to ‘Z’ at a profit of Rs. 60. If the difference between cost price of the item for �...
- A trader pretends to sell sugar at cost price but uses a weight of 'X' grams instead of 1,000 grams. If the profit percentage earned is (300/17)%, then wha...
- An item is sold for Rs. 2,360, resulting in a profit of x%. If the same item is sold for Rs. 2,500, the profit increases to (x + 7)%. Determine the value o...
'A' sold an article whose cost price is Rs. 'V', at a profit of 10% to 'B'. 'B' marked the price of the article 10% above the price at which he bought i...
