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A government authorised financial intermediary that aims at providing banking services to the general public is called the bank. An NBFC is a company that provides banking services to people without holding a bank license. An NBFC is incorporated under the Indian Companies Act, 1956 whereas a bank is registered under Banking Regulation Act, 1949. NBFC is not allowed to accept such deposits which are repayable on demand. Unlike banks, which accepts demand deposits. Banks are an integral part of payment and settlement cycle while NBFC, is not a part of the system.
Who became the first Indian American to hold the position of President of the World Bank?
Where are the headquarters of Indian Farmers Fertiliser Cooperative?
Which financial instrument is used to raise shortterm funds by the government?
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Which of the following country opens its first campus in GIFT City?