NBFC stands for Non-Banking Financial Company. It is a term related to Business » Banking, Useful Terms and Definitions which we use in daily life but we do not know their full name, Here’s a list of important abbreviations that you should know.
|Non-Banking Financial Company
|Business » Banking
What is full form of NBFC?
The full form of NBFC is the Non-Banking Financial Company. Non-Banking Financial Company (NBFC) is a financial institution that does not meet legal definitions for a bank but still provides banking services.
Here you learn the full name and complete information of Non-Banking Financial Company, if you have questions and answers related to NBFC, then tell us your thoughts in the comment, know the complete meaning of NBFC in this article.
NBFC cannot accept demand deposits; NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself. … While banks are incorporated under banking companies act, NBFC is incorporated under company act of 1956.
Investment banks, mortgage lenders, money market funds, insurance companies, hedge funds, private equity funds, and P2P lenders are all examples of NBFCs.
NBFCs started humbly in India in the 1960s as an alternative for savers and investors whose financial needs were not sufficiently met by the existing banking system. The NBFCs initially operated on a limited scale without making much impact on the financial industry.