Asian Journal of Development Matters
Year : 2010, Volume : 4, Issue : 1
First page : ( 28) Last page : ( 31)
Print ISSN : 0973-9637.

The Study of Non-Banking Financial Companies in Indian

Safania Saeid

Islamic Azad University, Ayatollah Amoli Branch, Iran.

Abstract

The non-banking financial companies (NBFC's) have emerged as substantial contributors to the Indian economic growth by having access to certain deposit segments and catering to the specialized credit requirements of certain classes of borrowers. The non-banking financial companies (NBFC's) have emerged as substantial contributors to the Indian economic growth by having access to certain deposit segments and catering to the specialized credit requirements of certain classes of borrowers. A non-banking institution which is a company and which has its principal business of receiving deposits under any scheme or arrangement or any other manner, or lending in any manner is also a non-banking financial company. While NBFCs have been rendering many useful services, several adverse, unhealthy features of their working also have been observed. The protection of savers from malpractices has been one of the important issues. The authorities have evolved an appropriate regulatory/statutory framework to oversee the operations of NBFCs. I may assure you that the Bank has an open mind for any suggestion within the framework of policy and basic postulate that the depositors’ interest should be safeguarded. All these concerns were examined objectively and revised guidelines have been issued which would go a long way in the best interests of strengthening the NBFC sector.

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Keywords

Development, urban development, economic development, regional development urban management, urban plans, urban planning.

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