Which of the following is false about NBFC ........

Economics- Phase (I & II) Non-banking Financial Institutions.

Which of the following is false about NBFC?

NBFC cannot accept demand deposits

NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself

deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs

NBFC cannot undertake insurance business

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Explanation:

They can undertake insurance business. NBFC cannot accept demand deposits, NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself ,deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs are the difference between NBFC and banks.