Question

Which of the following statement is/are NOT correct with

respect to Non-Banking Financial Companies (NBFCs)?

A They cannot lend and make investment.

B They cannot accept demand deposits.

C They do not from part of the payment and settlement system.

D Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation (DICGC) is not available to depositors of NBFCs, unlike in case of banks.

E None of these

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CLAT

Which of the following statement is/are NOT correct with

Solution

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