Functions of NBFCs - Budget & Economic Survey

Q.  Which of the following statements is/are correct?

1. NBFCs does not hold a banking license.
2. NBFC can issue Demand Drafts like banks.

- Published on 01 Aug 15

a. Only 1
b. Only 2
c. Both
d. None

ANSWER: Only 1
NBFC cannot accept demand deposits while NBFC cannot issue Demand Drafts like banks.

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