NBFC is a commonly used in finance sector. What does

Q: Answer-NBFC is a commonly used in finance sector. What does NBFC stands for?

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 sharesstocksbonds, leasing, hire-purchase, insurance business, chit business. Financial activity as principal business is when a companys 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.

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.

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Relevant for Exams:

RBI Grade B

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