TDS on interest

1. Sec 194A deals with deduction of TDS @ 10% with respect to payment of interest other than interest on securities. 
2. Payment of interest to banks for the amount borrowed is specifically excluded under sec 194A. 
3. Hence, no need for deduction of TDS when interest is paid to banks. However, interest paid to NBFC is tax deducted.
Please correct me if the above solution has an alternative view.