NON BANK FINANCE COMPANIES (NBFCS): REBOUNDING WITH REGULATORY SUPPORT, ALBEIT MANY CHALLENGES
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- NON BANK FINANCE COMPANIES (NBFCS): REBOUNDING WITH REGULATORY SUPPORT, ALBEIT MANY CHALLENGES
Non-banking finance companies (NBFCs) form an integral segment of the Indian financial system. NBFCs, which have emerged as the driving force behind India’s rapid economic growth in areas ranging from customer satisfaction to social engagement, play a catalytic role in nation building and financial inclusion by complementing the banking sector in reaching out credit to the unbanked segments of society, especially to the micro, small and medium enterprises (MSMEs), which form the cradle of entrepreneurship and innovation. Further, NBFCs provide an important avenue for the investors to park their funds at more attractive returns in comparison to the bank deposits.