Question

Which of the following entities is considered a "factor"

Q: Answer-Which of the following entities is considered a 'factor' according to the Factoring Regulation Act,...

Explanation Section 2 Definitions i factor means a non-banking financial company as defined in clause f of section 45-I of the Reserve Bank of India Act, 1934 which has been granted a certificate of registration under sub-section 1 of section 3 or anybody corporate established under an Act of Parliament or any State Legislature or any Bank or any company registered under the Companies Act, 1956 engaged in the factoring business.

according to the Factoring Regulation Act, 2011?

A A bank

B A commercial bank

C A non-profit organization

D A non-banking financial company

E Any individual engaged in financial transactions

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Which of the following entities is considered a "factor"

Solution