Question
Download Solution PDFWhich of the following governs Non-Banking Financial Companies (NBFC)?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is the Reserve Bank of India.
Key Points
- With the enactment of the RBI (Amendment) Act, 1977, the RBI (Reserve Bank of India) controls the functioning of NBFCs.
- NBFCs as a whole account for 11.2% of assets of the total financial system.
- It is a registered company under the Companies Act, 1956.
- Following are few important banks to remember :
- SIDBI ‘Small Industries Development Bank of India’, Its Headquartered in Lucknow.
- EXIM ‘Export-Import Bank of India’, Its Headquartered in Mumbai.
- NABARD ‘National Bank for Agriculture and Rural Development’, Its Headquartered in Mumbai.
- NHB ‘National Housing Bank’, Its Headquartered in New Delhi.
- IFCI ‘Industrial Finance Corporation of India’, Its Headquartered in New Delhi.
- The Securities and Exchange Board of India (SEBI), It is established in 1992, headquartered in Mumbai.
Last updated on Jun 14, 2025
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