Non-Banking Financial Company, NBFC - GS questions based on daily current affairs

1)   Which agency regulates and supervises NBFCs?

a. Finance Ministry
b. SEBI
c. RBI
d. Respective state government
Answer  Explanation 

ANSWER: RBI

Explanation:
The Reserve Bank of India is entrusted with the responsibility of regulating and supervising the Non-Banking Financial Companies by virtue of powers vested under Reserve Bank of India Act, 1934.
2)   Which of the following statements is/are correct?

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

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

ANSWER: Only 1

Explanation:
NBFC cannot accept demand deposits while NBFC cannot issue Demand Drafts like banks.
3)   Consider the following statements

1. Chit Funds are type of NBFC
2. All NBFCs are ruled by RBI
3. RBI said any purchase of a stake of 26% or more in a company, or a change in more than 30% of its directors, would need the central bank's permission.

Which of the above statements is/are correct?

a. 1,2
b. 2,3
c. 1,3
d. All
Answer  Explanation 

ANSWER: 1,3

Explanation:
Not all NBFCs are ruled by RBI.Some are under SEBI,IRDA etc.

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