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