what is difference between NBFC and banking ?
Is NBFC experience is consider as banking related experience ???
- Satheesh
- 05 Dec
- 18 Answers
18 Answers
18 Answers
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In nbfc you cannot have running account as you have in banks like savings, current account and odModal content
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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.Modal content
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NBFC - Non Banking Financial Corporation It is only for lending purposes.It provides financial services. Banking- It Accepts deposits for both lending and investment.It also provides Financial services.Modal content
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nbfc is a financial sector which provide only loans like gold loans not doing banking operations like issuing demand drafts and some other secury based mortgage loans...we have nbfc like idfc muthoot mannapum....Modal content
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they are financial institution that provide certain type of banking servicesbut do not hold a banking license. main difference is that these institutions are not allowed to take deposits from public.they can offer only loans, credit facilities,merger activity or money market etcModal content
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yesModal content
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There is a completee difference between NBFC and a Bank as the Bank has got a regulatory icence to do banking business of complete banking products viz. retail banking CASA, Loans, Corporate banking, Credit cards, etc.from the regulatory authority RBI in INDIA. eg: Any PSB or private Bank like SBI, ICICI etc.
While RBI give to certain organisations licence to do lending business only and these entities cannot conduct general banking business on a day to day basis as they are not eligible for the same. eg: Any Housing finanace company like LIC HF, PNB HF etc.
No NBFC experience can not be considered as Banking experience.Modal content
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NBFC-non banking financial company are the financial co who deals with providing funds on credit to different organisation as per their needs upon certain %. They do not accept deposit. Where as bank accept deposit. Yes NDFC experience can be considered as banking experience as banks also have finance (loan) department.Modal content
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Non banking finacial company .it is a small bank or small finace institution.where bank perform all major functionModal content
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Nbfc and bank both are financial companies. But the major difference is unlike banks nbfc can not issue self drawn cheques and demand draft.Modal content
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nbfc stands for non banking financial company as the name suggests nbfc is not a bank ,perform only lending functions to public and nbfc cannot accept deposits from public .Modal content
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No, in NBFC, Cheques cannot be issued and monies not payable in demand
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NBFC is the non banking financial corporation which operated by financial institution other than banking which operates by cash received, cash payment, also having saving a/c,recurring deposits,fixed deposits & loan provider as well.Modal content
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NoModal content
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NBFC means Non bankinking Financial Corporation that means it does not provides banking services as keeping your balance money in account whereas it provides you loan & earn interest...Modal content
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NBFC MEANS NON BANKING FINANCE COMPANYModal content
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Yes should be.Modal content
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