Under the Prevention of Money-laundering Act, 2002, "non-banking financial company" is defined under:
Section 2(1)(q) gives "non-banking financial company" the meaning assigned "in clause (f) of section 45-I of the Reserve Bank of India Act, 1934". Clause (c) of the same…
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Under the Prevention of Money-laundering Act, 2002, "non-banking financial company" is defined under:
Answer and explanation
Correct answer C
Section 2(1)(q) gives "non-banking financial company" the meaning assigned "in clause (f) of section 45-I of the Reserve Bank of India Act, 1934". Clause (c) of the same section defines "financial institution", a different term, and the NHB Act and the Companies Act are not referred to.