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Question

Non-Banking Financial Company’s minimum tenure of deposits is_______.

A 18 months Correct Answer Incorrect Answer
B 6 months Correct Answer Incorrect Answer
C 12 months Correct Answer Incorrect Answer
D 24 months Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

All NBFCs are not allowed to take deposits. Only those NBFCs which have specific authorization from RBI are allowed to accept/hold public deposits. NBFCs cannot take demand deposits. They can accept only term deposits with a tenure of minimum 12 months.

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