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NBFC registration is required by which section of the RBI Act?
ASection 17-IA
BSection 45-IA
CSection 42-IA
DSection 24-IA
Answer & Solution
Correct answer: B. Section 45-IA
1. The section bars business without a certificate.
2. It also sets the net owned fund requirement.
3. It is Section 45-IA of the RBI Act, 1934.
_Source: RBI, FAQs on Non-Banking Financial Companies_
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