MD on Residuary Non-Banking Financial Company

Question 1

………………………………………. are those companies which are receiving deposit under any scheme or arrangement in one lump sum or in installment or in any other manner which is according to the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016.

Answer 1

Residuary Non-Banking Companies

Question 2

Requirement of Maintenance of Liquid Assets by RNBCs

Answer 2

10% of the deposits outstanding at the close of business on the last working day of the second preceding quarter

Question 3

Tenure of Deposit to be accepted by RNBCs?

Answer 3

12 to 84 months

Question 4

Appointment of agents or opening of branches by RNBC is as per?

Answer 4

If NOF is up to 50 Crore then Within the State where its registered office is situated; and if NOF is above 50 Crore, then Anywhere in India

Question 5

Minimum Rate of Return on Deposits from NRIs by RNBCs?

Answer 5

Not more than the rate provided by Scheduled Commercial Banks to NRIs

Question 6

Tenure of Deposits from NRIs by RNBCs?

Answer 6

1 to 3 Years

Question 7

RNBC/ HFC who intends to accept deposit without advertising shall give a statement within ……………… to RBI/ NHB containing all the information which is ideally included in an advertisement.

Answer 7

6 months