financial services companies in india

The Top 10 NBFCs in India, 2019 Non-Banking Financial Companies (NBFC) are establishments that provide financial services and banking facilities without meeting the legal definition of a Bank. They are covered under the Banking regulations laid down by the Reserve Bank of India and provide banking services like loans, credit facilities, TFCs, retirement planning, investing and stocking in the money market. However, they are restricted from taking any form of deposits from the general public. These organizations play a crucial role in the economy, offering their services in urban as well as rural areas, mostly granting loans allowing for the growth of new ventures. NBFCs also provide a wide range of monetary advice like chit-reserves and advances. Hence it has become a very important part of our nation’s Gross Domestic Product and NBFCs alone count for 12.5% rise in Gross Domestic Product of our country. Most people prefer NBFCs over banks as they find them safe, efficient and q