What is the full form of NBFC?
- on Jul 10, 2022
NBFC stands for Non-Banking Financial Company.
|Full Form||Non-Banking Financial Company|
|Category||Business » Banking|
What is NBFC?
Non-Banking Financial Companies (NBFCs) are financial institutions that do not traditionally offer traditional banking products and services. They typically engage in activities such as lending, borrowing, brokering investments, and providing insurance.
Despite their differing product offerings, all NBFCs are regulated by the RBI. This means that they are subject to the same rules and regulations as traditional banks. This is important because it ensures that NBFCs operate with transparency and accountability.
NBFCs have become an important part of the Indian finance sector over the past few years. They have been able to provide financial services to a wider range of customers than traditional banks can. This has helped to increase access to finance for businesses and consumers in India.