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      Question

      What is a key functional difference between NBFCs and

      banks?
      A NBFCs offer chequing accounts Correct Answer Incorrect Answer
      B NBFCs issue cheques under RBI Correct Answer Incorrect Answer
      C NBFCs can issue cheques to depositors Correct Answer Incorrect Answer
      D NBFCs can’t issue cheques; banks can Correct Answer Incorrect Answer
      E NBFCs operate under SEBI Correct Answer Incorrect Answer

      Solution

      NBFCs are not part of the payment settlement system.

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