About the Company
A Non-Banking Financial Company (NBFC) is a company that provides financial services but doesn’t operate under a traditional banking license. They are registered under the Companies Act and engage in activities like lending, investments, and leasing. While they offer similar services to banks, NBFCs cannot accept demand deposits or issue checks.
Key characteristics of NBFCs:
-
Registered under the Companies Act:
NBFCs are registered companies, not banks, and operate under the Companies Act of 1956 or 2013.
-
Engaged in financial activities:
They provide a range of financial services, including loans, investments, asset management, and financial advisory.
-
No banking license:
Unlike banks, NBFCs do not have a banking license and cannot accept demand deposits.
-
Regulation by the RBI:NBFCs are regulated and supervised by the Reserve Bank of India (RBI).
Share
Facebook
X
LinkedIn
Telegram
Tumblr
Whatsapp
VK
Mail