INNOVATION AND CREATIVITY
INNOVATION IN ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Non Banking Finance Corporations
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Non Banking Finance Companies
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Non Banking Finance Consortium
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None of the given choices
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Detailed explanation-1: -Nonbanking financial institution. Anonbank financial institution (NBFI) is a financial institution that does not have a full banking license and cannot accept deposits from the public.
Detailed explanation-2: -Nonbank financial companies (NBFCs), also known as nonbank financial institutions (NBFIs), are entities that provide similar services to a bank but do not hold a banking license.
Detailed explanation-3: -Ans. NBFCs or Non-Banking Financial Companies provide financial services and products without a full banking license.
Detailed explanation-4: -The difference between a Bank and NBFC is that the former is a government-authorized financial intermediary, while the latter operates without having a bank license.