FA, 2020 amendment increasing...
Bank Name | Key Features | |
---|---|---|
|
Interest rate
9.00% - 12.00%
Max tenure
60 |
|
|
Interest rate
8.00% 12.00%
Max tenure
60 |
|
.: NBFC is a Non-Banking Financial Company which the principal business of which is:
Receiving deposits under any scheme or arrangement
Ans.: There are 2 types of NBFC’s, and they are:
There are some criteria’s which are required to be fulfilled by depos
Ans.: The following business cannot be registered as NBFC:
Ans.: As per the rules & regulations of Finance Seva “No company can commence the business of NBFC unless it has obtained the certificate of registration and having a net owned fund of Rs. 2 Crore”.
For registering as an NBFC an application to the Regional Office of RBI should be made along with the required documentation.
Ans.: Reason for the growth of NBFC:
Loan seekers have flexible eligibility criteria
Ans.: A time period has been provided regarding the maximum and minimum time limit for which NBFC can accept deposit.
Minimum time period: 12 months.
Maximum time period: 60 months.
It is the discretion of deposit accepting NBFC that it can pay back the amount of deposit before its maturity period but such deposit cannot be paid back before 3 months from the date of its acceptance.
If the deposit is paid back after 3 months but before 6 months of its acceptance no interest will be
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