NBFC stands for Non-Banking Financial Company. It is a financial institution that provides banking services, but does not have a full banking license. Unlike banks, NBFCs are not subject to the same level of regulatory oversight, and are typically not required to hold reserves with the central bank. NBFCs play an important role in providing credit to individuals and businesses that may not have access to traditional banking services.
NBFCs are regulated by the Reserve Bank of India (RBI) and are subject to certain rules and regulations aimed at ensuring their financial stability and protecting the interests of their customers.
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