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    Assignment: Submitted By:-Rishabh Shukla 0191PGM127

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    rishabh
    1) Non-banking financial companies (NBFCs) are registered under the Companies Act and engage in lending, acquiring securities, leasing, insurance, and chit funds but not agriculture, industry, or real estate. 2) NBFCs play an important role in promoting inclusive growth and providing innovative financial services to micro, small, and medium enterprises. 3) NBFCs supplement banks by channeling resources to underserved sectors and supporting employment, wealth creation, and financing for weaker sections of society.

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    Assignment: Submitted By:-Rishabh Shukla 0191PGM127

    Uploaded by

    rishabh
    45 views2 pages
    1) Non-banking financial companies (NBFCs) are registered under the Companies Act and engage in lending, acquiring securities, leasing, insurance, and chit funds but not agriculture, industry, or real estate. 2) NBFCs play an important role in promoting inclusive growth and providing innovative financial services to micro, small, and medium enterprises. 3) NBFCs supplement banks by channeling resources to underserved sectors and supporting employment, wealth creation, and financing for weaker sections of society.

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    Nbfc

    Original Title

    NBFC ASSIGNMENT

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    1) Non-banking financial companies (NBFCs) are registered under the Companies Act and engage in lending, acquiring securities, leasing, insurance, and chit funds but not agriculture, industry, or real estate. 2) NBFCs play an important role in promoting inclusive growth and providing innovative financial services to micro, small, and medium enterprises. 3) NBFCs supplement banks by channeling resources to underserved sectors and supporting employment, wealth creation, and financing for weaker sections of society.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    45 views2 pages

    Assignment: Submitted By:-Rishabh Shukla 0191PGM127

    Uploaded by

    rishabh
    1) Non-banking financial companies (NBFCs) are registered under the Companies Act and engage in lending, acquiring securities, leasing, insurance, and chit funds but not agriculture, industry, or real estate. 2) NBFCs play an important role in promoting inclusive growth and providing innovative financial services to micro, small, and medium enterprises. 3) NBFCs supplement banks by channeling resources to underserved sectors and supporting employment, wealth creation, and financing for weaker sections of society.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Assignment

    Submitted by:- Rishabh shukla

    0191PGM127

    A non-banking financial company (NBFC) is a company registered under the


    Companies Act, 1956 and is engaged in the business of loans and advances,
    acquisition of shares/stock/bonds/debentures/securities issued by Indian
    government or local authority or other securities of like marketable nature,
    leasing, hire-purchase, insurance business, chit business, but does not include any
    institution whose principal business is that of agriculture activity, industrial
    activity, sale/purchase/construction of immovable property.

    A non-banking institution which is a company and which has its principal business
    of receiving deposits under any scheme or arrangement or any other manner, or
    lending in any manner is also a NBFC.

    Role of NBFC in growth of INDIAN economy:-

    NBFCs (Non Banking Financial Companies) play an important role in promoting


    inclusive growth in the country, by catering to the diverse financial needs of bank
    excluded customers. Further, NBFCs often take lead role in providing innovative
    financial services to Micro, Small, and Medium Enterprises (MSMEs) most suitable
    to their business requirements. NBFCs do play a critical role in participating in the
    development of an economy by providing a fillip to transportation, employment
    generation, wealth creation, bank credit in rural segments and to support
    financially weaker sections of the society. Emergency services like financial
    assistance and guidance is also provided to the customers in the matters
    pertaining to insurance.

    NBFCs are financial intermediaries engaged in the business of accepting deposits


    delivering credit and play an important role in channelizing the scarce financial
    resources to capital formation. They supplement the role of the banking sector in
    meeting the increasing financial needs of the corporate sector, delivering credit to
    the unorganized sector and to small local borrowers. However, they do not
    include services related to agriculture activity, industrial activity, sale, purchase or
    construction of immovable property. In India, despite being different from banks,
    NBFC are bound by the Indian banking industry rules and regulations. NBFC
    focuses on business related to loans and advances, acquisition of shares, stock,
    bonds, debentures, securities issued by government or local authority or other
    securities of like marketable nature, leasing, hire-purchase, insurance business,
    chit business.

    The banking sector would always be the most important sector in the field of
    business because of its credibility in supporting manufacturing, infrastructural
    development and even being the backbone for the common man's money. But
    despite this, the role of NBFCs is critical and their presence in a country would
    only boost the economy in the right direction.

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