Sanjoy27
Gm Finance
Rotimi Dosunmu
Consultant
Sam_mms
Service

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hi this is zeeshan shekhani
i m in TYBMS.. i have selected project on NON- BANKING FINANCIAL COMPANIES and i dont have any idea about it.... if anyone can explain me this topic, what does it mean? etc etc or if anyone knows website where i can get information regarding this then plz pass it on as soon as possible...
thanx
zeeshu

From India , Mumbai
Hi Zeeshan
These are generally calle d NBFC or Non Banking Financial Companies. As the name suggests it covers all Non Banking companies which are into Finacial dealings like Hire Purchase, leasing, Deposit acceptance like Peerless Finance, Sundaram Finance, Magma Leasing etc.
These Companies are Governed by NBFC rules issued by RBI as regarding their Banking operations and accepatance of deposits as against other companies which are governed by Companies Acceptance of Deposit Rules .
Its very interesting to manage the Financials of these companies in the current regime where their borrowing cost has increased tremendously and they face stiff competition from banks , whereas lending rates are still tight. They also have stringent liquidity norms.
Pl visit RBI site for NBFC rules and some of the NBFC Companies to understand their operations.
CA Sanjoy banka

From India , New Delhi
Non-Banking Financial Company (NBFC) is a company registered under Companies Act, 1956 and is engaged in the business of loans and advances, acquisition of shares or bonds or debentures issued by Government or local authority. They also include businesses dealing in leasing, hire-purchase, insurance business, chit business.
NBFC cannot accept demand deposits; and they are not a part of the payment and settlement system and as such cannot issue cheques to its customers. No desposit insurance schemes are applicable in case of NBFCs.
# Note- For more details on NBFCs refer RBI Website.

From India , Mumbai
thanx sanjoy and sam for ur valueable reply..... i also need ur more help in completing that same topic (i.e NBFC's) so if u know any site or any more information plz send me i need atleast 4000 words to complte this project.... like like now u both have sent me this info i will include that also in my project... and i need some more... so plz send me some more relevant matter..

AGAIN THANX
WAITING FOR UR REPLY
zeeshan

From India , Mumbai
Non-bank financial companies are basically companies within the financial system that are not subject to regulations of the apex bank regulatory authority on deposit taking from the public.
Some that quickly came to mind are:
1. Insurance companies
2. Discount companies
3. Leasing companies
4. Hire purchase companies
5. Issuing companies
6. Brokerage companies
7. Pension fund companies
8. Security companies
9. Underwriting companies
10.Factoring companies
Search for further information on the above would surely be of help
Thanks

From Nigeria ,
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