what is difference between NBFC and banking ?

Is NBFC experience is consider as banking related experience ???

Your Answer

Banking is a company registered under companies Act 1956 and RBI act 1934, Who's principal business is to accept money from general public for lending. Core business of banks is to accepting deposits and lending. Where as a NBFC is a company registered under companies Act, 1956 and RBI Act,1934. NBFC does not accept any demand deposit from general public and are not a part payment and settlement function i.e. clearing of cheques, making payments. A NBFC can not issue credit or debit cards where as banks can issue credit and debit cards.

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