Question
When were the draft guidelines for building grievance redressal mechanism within NBFCs (Non-Banking Financial Companies) published?
Answer: Option B
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The Reserve Bank of India (RBI) published the draft guidelines for building grievance redressal mechanism within NBFCs (Non-Banking Financial Companies) on May 26, 2006. The grievance redressal
mechanism would be used to resolve disputes arising out of the decisions of the lending institutions' functionaries. Guidelines have also been outlined by the RBI for putting in place the Fair Practices Codes by
all NBFCs.
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