Non-Banking Financial Company or NBFC are entities that provide bank-like financial services but have no banking license and are not regulated. One of my colleagues took a loan from it so I asked does NBFC comes under RBI or not and also whether it is reliable. I believe that banks provide some security but such companies don't so we must have avoided them. During that discussion I got to know that The Department of Non-Banking Supervision (DNBS) takes the responsibility of supervising and regulating the Non-Banking Financial Companies so it can definitely be relied upon. There were many other people who had no idea about it and posed the question: does RBI regulate NBFC or not so I hope you all have got the answer now.
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What are the famous NBFCs in India?There are ample number of NBFCs in India but some are way too famous. After getting your answer of Is NBFC regulated by RBI or not, you should also have an idea what are the famous ones. Give me some famous NBFCs that can be approached anytime without a second thought.
Power Finance Corporation Limited
Bajaj Finance Limited
Muthoot Finance Limited
Mahindra & Mahindra Financial Services Limited
Cholamandalam and more.
These are NBFC regulated by RBI
Is NBFC reliable?Everything has its pros and cons but it should be mentioned that NBFCs have been in the market for years and it is more flexible to approach them and avail a loan anytime you want. Their processing of loans is also seamless and better than banks. You are to read its terma=s and conditions and then determine whether you feel safe to avail loan from them or not.
I hope I have answered your question: does NBFC comes under RBI or not.
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Authors Of The Question
Does NBFC Comes Under RBI?
Francis
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2 Year
2022-08-04T09:38:41+00:00 2022-08-05T16:57:34+00:00Comment
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