What does NBFC stand for?

Q.  What is the full-form of NBFC?
- Published on 16 Feb 17

a. Non-Bank Financial Competition
b. Non-Bank Foreign Company
c. Non-Banking Financial Company
d. Non-Banking Finance Corporation

ANSWER: Non-Banking Financial Company
 
NBFC - A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 2013 of India, engaged in the business of loans and advances, acquisition of shares, stock, bonds hire-purchase, insurance business or chit business.

The working and operations of NBFCs are regulated by the Reserve Bank of India (RBI).

Types of NBFCs in India are -
  • Asset Finance Company (AFC)
  • Investment Company (IC)
  • Loan Company (LC)
  • Infrastructure Finance Company (IFC)
  • Infrastructure Debt Fund : Non- Banking Financial Company (IDF-NBFC)
  • Gold Loan NBFCs in India
  • Residuary Non-Banking Companies (RNBCs)

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