What does the primary business of non-banking financial companies (NBFCs) involve? Question 16Answer a. Acceptance of check and demand deposit services b. Issuance of insured deposits c. Direct engagement in agricultural and industrial activities d. Raising funds from public depositors and lending it out
The primary business of non-banking financial companies (NBFCs) involves:
d. Raising funds from public depositors and lending it out.
NBFCs primarily engage in providing loans and advances, asset financing, and other financial services, but they do not have a banking license and do not accept demand deposits like traditional banks.