The correct answer is C. Mutual Benefit Finance Companies.
A hire-purchase finance company is a company that provides loans to customers to purchase goods on a hire-purchase agreement. An IRDA is the Insurance Regulatory and Development Authority of India, which is a statutory body that regulates the insurance industry in India. A loan company is a company that provides loans to individuals and businesses. A mutual benefit finance company is a company that provides loans to its members, and the profits are shared among the members.
Mutual benefit finance companies are not considered to be finance companies because they are not primarily engaged in the business of providing loans. They are primarily engaged in the business of providing mutual benefits to their members.