Question

    What is the minimum tenure of deposits to be taken by

    NBFCs?
    A 12 months Correct Answer Incorrect Answer
    B 6 months Correct Answer Incorrect Answer
    C 2 years Correct Answer Incorrect Answer
    D 3 years Correct Answer Incorrect Answer
    E 5 years Correct Answer Incorrect Answer

    Solution

    The minimum tenure of deposits to be taken by NBFCs is 12 months.All NBFCs are not allowed to take deposits. Only those NBFCs which have specific authorization from RBI are allowe d 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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