Under the Banning of Unregulated Deposit Schemes Act, 2019, financial assistance from a non-banking…
Section 2(4)(b) excludes from "deposit" amounts received as loan or financial assistance from any "non-banking financial company" registered with the Reserve Bank of India,…
Choose your answer
Under the Banning of Unregulated Deposit Schemes Act, 2019, financial assistance from a non-banking financial company registered with RBI is:
Answer and explanation
Correct answer B
Section 2(4)(b) excludes from "deposit" amounts received as loan or financial assistance from any "non-banking financial company" registered with the Reserve Bank of India, among other lenders. The exclusion is in the definition itself, so it needs no RBI exemption or State approval and has no monetary limit.