Non-Banking Financial Company (NBFC)

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Definition of 'Non-Banking Financial Company (NBFC)'

A Non-Banking Financial Company (NBFC) is a financial institution that provides financial services but is not a bank. NBFCs can be either deposit-taking or non-deposit-taking. Deposit-taking NBFCs can accept deposits from the public, while non-deposit-taking NBFCs cannot.

NBFCs offer a wide range of financial services, including loans, investments, and insurance. They can also provide financial advice and services to businesses and individuals.

NBFCs are regulated by the Reserve Bank of India (RBI). The RBI sets the rules and regulations that NBFCs must follow. The RBI also monitors NBFCs to ensure that they are operating in a safe and sound manner.

NBFCs play an important role in the Indian financial system. They provide a variety of financial services that are not available from banks. NBFCs also help to make credit more accessible to businesses and individuals.

Here are some of the benefits of using an NBFC:

* NBFCs can offer more flexible lending terms than banks.
* NBFCs can often provide loans to borrowers who have been turned down by banks.
* NBFCs can offer a wider range of financial products and services than banks.

If you are looking for a financial institution that can provide you with a variety of financial services, an NBFC may be a good option for you.

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