Which among the following is NOT a difference between a bank and a NBFC in India?
1
NBFCs do not require to maintain reserves with RBI as the banks.
2
NBFCs cannot issue cheques drawn on itself while a bank can do that.
3
100% FDI is allowed in NBFCs whereas in case of private banks in India it is 74%
4
Both 1 and 3
5
All 1, 2 and 3 are the differences between banks and NBFCs