Q. Consider the following statements about Non-Banking Financial Companies (NBFCs):
1.NBFCs are registered under the Companies Act, 1956 or Companies Act, 2013.
2.NBFCs can accept demand deposits but cannot issue cheques drawn on themselves.
3.Flipkart has become the first Indian e-commerce platform to receive an NBFC licence from the RBI.
Which of the statements given above is/are correct?

[A] 1 and 3 only

[B] 1, 2 and 3 only

[C] 2 only

[D] None of the above

Answer: A
Notes:

Explanation:

  • Statement 1 is correct: NBFCs are registered under the Companies Act, 1956 or 2013.
  • Statement 2 is incorrect: NBFCs cannot accept demand deposits and cannot issue cheques drawn on themselves.
  • Statement 3 is correct: Flipkart has become the first Indian e-commerce platform to receive an NBFC licence from the RBI.

Source- CNBC

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