Consider the following statements about the Non-Banking Financial Companies (NBFCs) in India : 1. NBFCs cannot accept demand deposits. 2. All the NBFCs operatin

Question

Consider the following statements about the Non-Banking Financial Companies (NBFCs) in India :
1. NBFCs cannot accept demand deposits.
2. All the NBFCs operating in India have to be registered with the RBI.
3. NBFCs form part of the payment and settlement system and can issue cheque drawn on itself.
4. Deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation (DICGC) is not available to the depositors of deposit taking NBFCs.

Which of the statements given above is/are correct ?

Accepted Answer

(A) 1 and 4

Answer

(B) 1, 2 and 3

Answer

(C) 4 only

Answer

(D) 2, 3 and 4