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Which body is prohibited from accepting public deposits?
APublic sector bank
BPartnership firm
CPayments bank
DPrivate bank
Answer & Solution
Correct answer: B. Partnership firm
1. Banks and specially registered NBFCs may accept deposits.
2. Unincorporated bodies may not.
3. A partnership firm is such a body.
_Source: RBI, FAQs on Non-Banking Financial Companies_
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