What is the Full Form of NBFC?
The full form of NBFC is Non-Banking Financial Company. NBFCs are part of India’s financial landscape provide different financial needs and contribute to the country’s economic development. It is a financial institution that provides banking services like loans, advances, asset financing, and investments but it does not hold a banking license.
NBFCs play a crucial role in the financial sector by providing the credit needs of various industries which includes retail and small businesses. NBFCs are controlled and regulated by the Reserve Bank of India (RBI) in India and serve as an essential source of credit and financial services for individuals and businesses that may not have access to traditional banking services. NBFCs become involved in activities like leasing, hire purchase, and investment in securities.
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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