Which of the following is NOT correct in context of NBFCs in India ........

Economic Affairs Non Banking Financial Companies (NBFCs)

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Which of the following is NOT correct in context of NBFCs in India?

They have to be registered under companies act 1956

NBFCs cannot accept demand deposits but some categories of NBFC can accept public deposits

NBFCs can work in insurance, agricultural and industrial sectors

The deposits made with NBFCs are not guaranteed by RBI

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Explanation:

3rd statement is incorrect.
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property.