Which among the following is not a financial institution without quasi-banking function?Question 33Select one:a.pawnshopsb.lending companiesc.pre-need companiesd.investment houses
Question
Which among the following is not a financial institution without quasi-banking function?Question 33Select one:a.pawnshopsb.lending companiesc.pre-need companiesd.investment houses
Solution
The question is asking which among the given options is not a financial institution without quasi-banking function.
Here are the options:
a. Pawnshops b. Lending companies c. Pre-need companies d. Investment houses
Let's go through them one by one:
a. Pawnshops: These are indeed financial institutions, but they do not have quasi-banking functions. They provide loans to people, with personal property items used as collateral.
b. Lending companies: These are also financial institutions without quasi-banking functions. They provide loans to individuals and businesses.
c. Pre-need companies: These are companies that sell contracts in which the benefits are provided at a future date. They are also not involved in quasi-banking functions.
d. Investment houses: These are financial institutions that deal with securities and other assets. They do have quasi-banking functions as they can perform banking functions without accepting demand deposits.
So, the answer to the question "Which among the following is not a financial institution without quasi-banking function?" is:
d. Investment houses
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