|Consider the following statements with regard to Non-Banking Finance Companies (NBFCs).|
|1. NBFCs can also engage in micro finance activities.|
|2. NBFCs hold banking licence and provide banking services without meeting the legal definition of bank.|
|3. NBFCs are allowed to take limited deposit from the public.|
|Which of the statement(s) given above is/are correct?|
A) 1 and 2
B) 1 and 3
C) Only 1
D) None of these
Correct Answer: D
Solution :[d] Non-Banking Finance Companies (NBFCs) are financial stitutions that provide banking services without meeting the legal definition of a bank that is one that does not hold a banking licence. institutions are not allowed to take deposits for the public. NBFCs offer most sorts of banking services, such as loans and credit facilities, private education funding, retirement planning, trading in money markets, underwriting stocks and shares.
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