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    Question

    Under the IFSCA (Finance Company) Regulations, 2021,

    what activities qualify Finance Companies (FCs) and Finance Units (FUs) as Credit Institutions under the CIC Act, 2005?
    A Issuance of credit cards and debt instruments Correct Answer Incorrect Answer
    B Providing factoring and forfaiting services Correct Answer Incorrect Answer
    C Wealth management for HNIs Correct Answer Incorrect Answer
    D Foreign exchange trading Correct Answer Incorrect Answer
    E Real estate investment Correct Answer Incorrect Answer

    Solution

    The IFSCA circular includes factoring and forfaiting of receivables as activities that qualify Finance Companies (FCs) and Finance Units (FUs) as Credit Institutions under the CIC Act, 2005.

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