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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