Discussion
Which one is not finance company?
Answer: B
Correct answer: IRDA
The IRDA - now the IRDAI - is the Insurance Regulatory and Development Authority, a statutory regulator of the insurance industry. It supervises insurers rather than conducting any financing business of its own, so it is not a finance company.
The other three are categories of non-banking financial company: hire-purchase finance companies fund the acquisition of assets on hire-purchase terms, loan companies lend, and mutual benefit finance companies, or nidhis, accept deposits from and lend to their own members.
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