With reference to non-banking financial companies (NBFCs) in India, consider the following statements:
1. They can offer any rate of interest subject to their financial capacity
2. They can not accept deposits repayable on demand.
Which of the statements given above is/are correct?

Related MCQs

• The commercial banks were required to keep some percentages of their time deposits and their demand deposits with the RBI in the form of reserves is known as
• Which of the following is true about the restrictions on RBI? (i) It is not to compete with the commercial banks. (ii) It is not allowed to pay interest on its deposits. (iii) It cannot engage directly or indirectly in trade. (iv) It cannot acquire or advice loans against immovable property. (v) It is prohibited from purchasing its own shares or the shares of any other bank or any company or granting loans on such security.
• The recent conversion of Financial Institutions into Commercial Banks or Non-Banking Finance Companies (NBFCs) under the regulatory aspect of RBI was suggested by
• With the government take-off of all the life insurance companies in India, the Life Insuarnce Corporation of India (LIC) was formed in
• Deposits which arise from granting of loans are called
• The exchange rate at which demand for foreign currency becomes equal to its supply, is called
• Interest rate of Deposit of cooperative credit societies are fixed by
• When one country manipulates exchange rate against the interest of other country, is known as
• Under fixed exchange rate system, the currency rate in the market is maintained through
• Changing the role and growth of Financial institutions, in recent years, Select Financial Institutions viz.,IDBI, ICICI Ltd., EXIM Bank, SIDBI and NABARD have been brought under the supervisory purview of the