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A non-bank financial institution (NBFI) is a financial
institution that does not have a full banking license or is not
supervised by a national or international banking regulatory
agency.
A company registered under Companies Act 1956 and RBI Act
1934 u/s 45-IA
It facilitate bank-related financial services, such as investment,
loans and advances, leasing, hire - purchase, insurance, but
does not include that institution whose main business is in
agriculture activity, industrial activity, sale/ purchase/
construction of immovable property etc.
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While some of them are primary engaged in in fund-
based activities, the others primarily provide financial
services of diverse kinds. Former is known as NBFCs
and latter is known as NBFSCs.