📢 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

    NBFC is a commonly used in finance sector. What does

    NBFC stands for? 
    A New Business Finance Company Correct Answer Incorrect Answer
    B New Banking Finance Company Correct Answer Incorrect Answer
    C Non-Business Finance Company Correct Answer Incorrect Answer
    D Non-Business Fund and Credit Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds, leasing, hire-purchase, insurance business, chit business. Financial activity as principal business is when a company’s financial assets constitute more than 50 per cent of the total assets and income from financial assets constitute more than 50 per cent of the gross income.

    Practice Next
    More Economy and Banking and Finance Static Concepts Questions

    Relevant for Exams:

    ask-question