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      Question

      Which of the following specific corporate entities is

      structurally excluded from the applicability of the Scheme under the NBFC criteria?
      A Regional Rural Banks Correct Answer Incorrect Answer
      B Non-bank Prepaid Payment Instruments Issuers (PPIs) Correct Answer Incorrect Answer
      C Core Investment Companies (CICs) Correct Answer Incorrect Answer
      D Credit Information Companies Correct Answer Incorrect Answer
      E Scheduled Primary Co-operative Banks Correct Answer Incorrect Answer

      Solution

      The framework specifically lists Core Investment Companies (CICs), Housing Finance Companies (HFCs), and Mortgage Guarantee Companies as excluded from this particular ombudsman mechanism. The Scheme applies to services provided by the following Regulated Entities (REs): οƒ˜ Banks: All Commercial Banks, Regional Rural Banks (RRBs), State/Central Co-operative Banks, and Scheduled/Non-Scheduled Primary (Urban) Co-operative Banks with a deposit size of β‚Ή50 crore and above (as of the previous fiscal year's audited balance sheet). Excludes banks under resolution, winding up, or All-Inclusive Directions. οƒ˜ NBFCs: All NBFCs registered with RBI that are authorized to accept deposits OR have a customer interface with an asset size of β‚Ή100 crore and above. (Excludes HFCs, CICs, IDF-NBFCs, NBFC-IFCs, NOFHCs, Primary Dealers, and Mortgage Guarantee Companies). οƒ˜ Prepaid Payment Instruments (PPIs): All Non-bank PPI Issuers. οƒ˜ Credit Information Companies (CICs): All registered CICs.

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