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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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