NON BANKING FINANCIAL INSTITUTIONS
Non-bank financial companies (NBFCs) are financial
institutions which provide banking
services without summiting the explanation of a bank
, means one that doesn’t hold a banking license. These institutions usually are constrained from taking deposits from the public depending on the laws of the country.
, means one that doesn’t hold a banking license. These institutions usually are constrained from taking deposits from the public depending on the laws of the country.
The particular banking goods that can be offered by NBFCs
depends on the authority, and may include services such as loans and savings products, investments and money
transfer services. In some jurisdictions, such as New Zealand, any company can
engage in banking business, except they are not allowed to use the word bank in
their name.
