Services of NBFC
There are 8types of NBFC, They are:
- Asset Finance Company (AFC): These are mainly finance the purchases of physical assets like vehicles, machinery, and equipment.
- Investment Company (IC): These are involved in the purchase of securities like shares, stocks, bonds for investment purposes.
- Loan Company (LC): These are mainly provide loans and advances like including personal loans, housing loans and loans for educational purposes.
- Infrastructure Finance Company (IFC): These are mainly focus on the financing infrastructure projects like roads, bridges, and power plants.
- Core Investment Company (CIC): These NBFCs hold investments in their group companies and are not involved in any other financial activity.
- Microfinance Institution (MFI): MFIs provide financial services to particularly small loans to low income individuals and micro entrepreneurs.
- Housing Finance Companies (HFCs): These are primarily focus on providing loans for the purchase, construction, renovating or improvement of residential properties.
- Mortgage Finance Companies: These NBFCs focus on specialize in mortgage lending. They provide loans obtained by real estate often residential properties.
NBFC Full Form – Non-Banking Financial Company
NBFC full form: In the realm of financial services, banks have traditionally been the go-to institutions for managing money, providing loans, and safeguarding deposits. However, alongside these traditional banking institutions, Non-Banking Financial Companies (NBFCs) have emerged as formidable players, offering a diverse range of financial services and playing a crucial role in shaping the financial landscape of India.
In this article, we will learn about the full form of NBFC, its history, services, requirements, examples, and drawbacks.
Table of Content
- What is the Full Form of NBFC?
- History of NBFCs
- Services of NBFC
- Requirements for NBFC
- Examples of NBFCs in India
- Drawbacks of NBFC
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