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NBFC and MFI in India

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NBFC

NBFC means Non Banking Financial Company[1] A non-banking financial company (NBFC) is a company registered under the Companies Act, 1956 and is engaged in the business of loans and advances, acquisition of shares/stock/bonds/debentures/securities issued by government or local authority or other securities of like marketable nature, leasing, hire-purchase, insurance business, chit business, but does not include any institution whose principal business is that of agriculture activity, industrial activity, sale/purchase/construction of immovable property.[2]

  1. ^ http://acronyms.thefreedictionary.com/NBFC
  2. ^ http://www.rediff.com/money/2007/jul/20nbfc.htm
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