What service NBFC’s provide?

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Since NBFCs square measure kind of like banks, they provide most sorts of banking services.

These embody loans and advances, credit facilities, saving and investment plans, acquisition of shares, stock, bonds never-never; insurance business or tab business and cash transfer services. It additionally includes personal education funding, retirement coming up with, underwriting stocks and shares, mercantilism in cash markets, TFCs (Term Finance Certificate) and alternative obligations.

 

Apart from this, NBFCs additionally give wealth management services like handling portfolios of stocks and shares and discounting services.

However, it does not embody organizations concerned in agriculture or industrial activity or the sale, purchase or construction of immoveable property. NBFCs also, sporadically, back investments in property and prepare reports for firms on market or business and practicableness. Thus, they are concerned in majority of banking services with bound exceptions, that square measure as follows:

 

·         NBFCs cannot settle for demand deposits

 

·         NBFCs aren't a section of the payment and settlement system

 

·         NBFCs cannot issue cheques drawn on itself

 

·         NBFC depositors don't have deposit insurance facility of the Deposit Insurance and Credit Guarantee Corporation, in contrast to banks