Regarding lending in addition to making investments, the Non-Banking Financial Companies are similar to banks. Though there are few differences, they're
1. NBFCs can't accept demand deposits
2. NBFCs cannot issue cheques in direction of its personal clients as They Don't form part of the settlement and cost system
3. Instead of banks, NBFCs cannot avail the deposit insurance coverage facility of DICGC.
4. They can't issue demand draftsFind out More about
NBFC Registration Procedure.
Regarding lending in addition to making investments, the Non-Banking Financial Companies are similar to banks. Though there are few differences, they're
1. NBFCs can't accept demand deposits
2. NBFCs cannot issue cheques in direction of its personal clients as They Don't form part of the settlement and cost system
3. Instead of banks, NBFCs cannot avail the deposit insurance coverage facility of DICGC.
4. They can't issue demand draftsFind out More about [url=https://www.corpseed.com/service/nbfc-registration]NBFC Registration[/url] Procedure.