Which regulatory body in India is responsible for overseeing and regulating the functioning of non-banking financial companies (NBFCs)?

A Reserve Bank of India (RBI) Correct Incorrect

B Securities and Exchange Board of India (SEBI) Correct Incorrect

C Ministry of Finance Correct Incorrect

D National Payments Corporation of India (NPCI) Correct Incorrect

Detailed Solution

The RBI is the regulatory authority for NBFCs in India, ensuring their stability and compliance with regulatory norms to protect the interests of depositors and the financial system.

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Which regulatory body in India is responsible for overseeing and regulating the functioning of non-banking financial companies (NBFCs)?

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