NBFC
NBFC
NBFC
Sunakshi Tiwari
NBFC's is a company registered under the
Companies Act, 1956 .It is a financial companies
which are dealing in finance without banking
permission by government .These can deal in
shares,loans, FD's etc. but these are not
permitted to open the saving and current account
like a bank.
(i) A NBFC cannot accept demand deposits (demand deposits are
funds deposited at a depository institution that are payable on
demand -- immediately or within a very short period -- like your
current or savings accounts.)
(ii) It is not a part of the payment and settlement system and as such
cannot issue cheques to its customers; and