📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    âš¡ Month End Offer - Flat 52% Off On All Courses! Enroll Now âš¡
    00:00:00 AM Left

    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.

    Practice Next
    More Economy and Banking and Finance Static Concepts Questions

    Relevant for Exams:

    ask-question