Economics · Economy
Consider the following statements regarding non-bank financial institutions and regulations in India: Statement I: Insurance companies in India are regulated by the Insurance Regulatory and Development Authority of India (IRDAI) under the IRDA Act, 1999. Statement II: Non-Banking Financial Companies (NBFCs) are strictly prohibited from accepting public deposits under all circumstances. Statement III: The Foreign Exchange Management Act (FEMA), 1999 is the primary legislation governing foreign exchange transactions and external trade. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I, II and III
- 2Only I and III✓
- 3Only I and II
- 4Only I
Correct answer
Only I and III
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