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Non Banking Finance Company
there are 4 types of non banking financial companies such as reserve bank of india ,HDFC,central bank and punjab national bank. they give interest about 15.5% for a year.
A banking institution is required to have a full banking license and is supervised by a banking regulatory agency. Non-banking is a financial institution that does not have these requirements.
These are the intermediation that mobilized savings and helps in allocation of Funds in efficient manner. Financial Institutions can be classified as Banking and Non-Banking Financial Institutions are of two types schedule, can be Commercial Banks and Schedule Co-Operative Bank. The Schedule Commercial Banks can be Further classified into Public Sector Bank, Private Sector bank, Foreign Sector Bank. In India the Non-Banking Institution are of two types, i.e. Non-Banking Financial Companies & Development Financial Institutions.
pawnshops., government non-bank financial institutions., lending companies., insurance., ventures..:)
A non bank financial institution is a financial institution that does not have full banking license to supervised any international banking regulatory agency and does not give deposit.
the problem faced by non banking financial institution is recoverying the funds from the debtors due irresponse from the govt side
what is parallel beam
Building societies Building societies raise funds primarily by accepting deposits from households, provide loans (mainly mortgage finance for owner-occupied housing) and payment services. Traditionally mutually owned institutions, building societies increasingly are issuing share capital. Credit unions Mutually owned institutions, credit unions provide deposit, personal/housing loan and payment services to members. http://rba.gov.au/FinancialSystemStability/FinancialInstitutionsInAustralia/the_main_types_of_financial_institutions_in_aus.html
The full form of NBFC is Non Banking Financial Corporation.Its a part of financial institution.
Non-depository institutions are nonbank financial institutions that do not have a banking license and cannot accept deposits from the public. Examples of non-depository financial institutions that play an essential role in modern finance are insurance companies, mutual fund companies, security brokers, pawn shops, finance companies, and pension funds. Non-depository financial institutions provide a wide variety of financial services to both individuals and businesses and provide an alternative route for funneling savings into capital investment. Non-depository financial institutions compete with banks (depository institutions) in offering financial services.
non banking financial institution