A Non – Banking Financial Corporation is a company incorporated under the Companies Act 2013 or 1956 which is engaged in the business of Loans and Advances, Acquisition of stocks, equities, debt etc issued by the government or any local authority. The main objective of this type of a company is to accept deposits under any scheme or manner.
Role and Function of NBFC in India
NBFC provide long term audit and specialized credit
Substantial employment generation
To provide finance economically weaker section
Helps in the development of financial markets
Help and increase wealth creation
Helps in economic development
A huge contribution to the state exchequer
Development of sectors like infrastructure
Click here to know more - NBFC Registration
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