It is true that the banks share a very large segment of financial intermediation in the Indian financial market; nevertheless, the non-banking financial companies (NBFCs) play a significant role in this respect. The possible reason is that it has been easy to set up NBFCs and, moreover, they, being less subjected to rigid regulations, have been in a position to offer attractive terms to allure the customers. They grew along with the banking companies providing various kinds of financial services over the past few decades. During the 1980s and the early 1990s, the growth was remarkably fast as the number of NBFCs ballooned from 7,063 at the end of March 1981 to 33,520 and 35,832, respectively, at the end of ...
Non-Banking Financial Companies
Non-banking financial companies