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What are non-banking institutions? Why are the following institutions non-banking institutions?1. Mutual fund institutions 2. Insurance companies |
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Answer» Non-Banking financial institutions that operate under the supervision of the Reserve Bank of India. They are registered under the Company Act 1936 and carry out the basic functions of the Banks. Mutual fund institutions and insurance companies are non-banking financial companies because they do not carry out all the functions of Banking institutions |
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