Question

    Non-Banking Financial Companies (NBFCs) are the

    Financial Intermediaries engaged primarily in the business of i. Accepting Deposits ii. Lending loans and advances iii. Leasing iv. Hire purchasing
    A i and ii Correct Answer Incorrect Answer
    B iii and iv Correct Answer Incorrect Answer
    C i and iii Correct Answer Incorrect Answer
    D i, ii, iii and iv Correct Answer Incorrect Answer
    E i only Correct Answer Incorrect Answer

    Solution

    A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of the immovable property.

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