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NBFCs is a company registered under the companies act in which year?

Asked on by | Votes 0 | Views: 16 | Tags: banking financial awareness     | awareness about securities market     | Add Bounty

NBFCs is a company registered under the companies act in which year?
1). 1956
2). 1969
3). 1898
4). 1900


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2 vote
Answered by on | Votes 2 |

NBFCs is a company registered under the companies act, 1956. It differs from banks in the following aspects-

(i) It cannot accept demand deposits.

(ii) They do not have insurance coverage on their deposits however bank deposits have insurance cover of Deposit Insurance and Credit Guarantee Corporation.

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