Answer-Which of the following is not true about NBFCs?

middot NBFCs are registered under Section 45-IA of the RBI Act, 1934 as NBFC except the NBFCs regulated by some other regulator Snapshot from study notes of the ixamBee SEBI course covering topic in detail

Question

Which of the following is not true about

NBFCs?

A A company desirous of commencing business of NBFC needs to be registered with RBI under Section 45 I(a) of the RBI Act, 1934

B NBFC should have a minimum net owned fund of Rs.2 crore

C NBFCs can be deposit taking or non-deposit taking

D Deposits of NBFCs are covered under Deposit insurance facility of DICGC

E Non-deposit taking NBFCs do not have to maintain CRR and SLR

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Solution