Different type of NBFC in India | Various Types of NBFC (Recently Introduced by RBI)

NBFC stands for Non-Banking Financial Company NBFC’s are institutions generally engaged in offering loans for homes, vehicle, machinery etc. Generally it classified as companies offering loans | acquisition of shares and advances majorly involve in stocks | debentures | bonds | marketable securities or securities issued by Government or local authority or of a similar nature | hire purchase | leasing | insurance business | chit business etc. RBI Update: Reserve Bank of India on 22nd February 2019 issued a notification on Synchronization of the Non-Banking Financial Companies (NBFCs) Categories”. As per the circular RBI has merged 3 categories of NBFCs into one, going forward Asset Finance Company (AFC), Investment Company (IC) and Loan Companies(LC) will be merged to Investment and Credit Company (NBFC-ICC).