Group items tagged

NBFC is a financial institution that caters to the needs of the unorganised sections of the society by providing them loans and advances. They provide services similar to a bank but do not require a banking license for it. NBFCs are regulated under the Companies Act 2013 & RBI Act, 1934 whereas Banks are regulated under the Banking Regulations Act, 1949. Banks do require a valid banking license to continue with its services whereas with NBFC Registration, one has to obtain an NBFC license to continue with services. https://corpbiz.io/nbfc-registration