Non Banking Financial Company

Important Points 

  • NBFCs do offer all sorts of banking services, such as :- Loans and credit facilities, Retirement planning.
  • Systematically important NBFCs are Non-banking Financial companies whose asset size is more than ____ Crore as per their balance sheet. :- 500.
  • How many types of NBFC in India :- Ten.
  • NBFC cannot accept :- Demand deposits.
  • NBFCs do not form part of the payment and settlement system and cannot issue :- Cheques & Debit Cards.
  • NBFCs are allowed to accept/renew public deposits for a minimum period of :- 12 Months.
  • NBFCs are allowed to accept/renew public deposits for a maximum period of :- 60 Months.
  • The interest rates charged to the borrowers by NBFCs are :- Not regulated by RBI.
  • The interest rate of NBFC are chosen by :- NBFC Itself.
  • Which is the example of NBFC :- Fusion Microfinance Pvt Ltd, S. V. Creditcare Network Pvt. Ltd, Saija Finance Pvt. Ltd, LIC housing Finance limited.
  • Which statement is true :- NBFC cannot accept demand deposits.
  • The deposits with NBFCs are :- Not insured.
  • Which statement is true :- NBFCs (except certain AFCs) should have minimum investment grade credit rating.
  • The repayment of deposits by NBFCs is :- Not guaranteed by RBI.
  • All NBFCs are not entitled to :- Accept public deposits.
  • Which of the following NBFC can accept public deposits :- Only those NBFCs to which the Bank had given a specific authorization.
  • _______ does not guarantee repayment of deposits by NBFCs even though they may be authorized to collect deposits :- RBI.
  • If an NBFC defaults in repayment of deposit, the depositor can approach :- Company Law Board, Consumer Forum, Civil case in Court.
  • There is __________for hearing complaints against NBFCs :- No ombudsman.
  • In respect of credit card operations of an NBFC, which is a subsidiary of a bank the customer will have the option to approach ____ – Concerned Banking Ombudsman.
  • _________ conducts on-site inspection and off-site surveillance of NBFCs :- RBI.
  • The RBI conducts the inspection under the system known as the alphabets of :-CAMELS.
  • The interest may be paid or compounded at rests not shorter than :- Monthly rests.

  • Minimum capital required for setting up an NBFC is :- 100 Crores.
  • The company should be registered under __________of the companies Act, 1954 :- Section 3.

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