📝 One-liners · 66 cards
Non-Banking Financial Companies (NBFCs)
What is the definition of a Non-Banking Financial Company (NBFC)?
An NBFC is a company registered under the Companies Act whose principal business is receiving deposits or lending money, or both, but which is not a bank.
What is the minimum tenor for which a deposit-taking NBFC can accept a public deposit?
12 months
Which regulatory authority supervises and regulates NBFCs in India?
The Reserve Bank of India (RBI) regulates and supervises NBFCs under the provisions of the RBI Act, 1934.
What is the maximum tenor for which a deposit-taking NBFC can accept a public deposit?
60 months
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