39. A non banking institution which is a company and which has as its principal business the receiving of deposits, under any scheme or arrangement or in any other manner, or lending in any manner.
40.
41. A NBFC cannot issue cheques, to their customers and is not a part of the payment and settlement system
42. Deposit insurance facility of Deposit Insurance Credit Guarantee Corporation (DICGC) is not available for NBFC depositors
43. They cannot offer interest rates higher than the ceiling rate prescribed by RBI from time to time. (Currently the ceiling rate is 12.5%)
44. They cannot offer gifts/incentives or any other additional benefit to the depositors.