What is the Difference Between a Bank and NBFC
Difference Between Banks And NBFCs, Financial institutions provide to every essential aspect of society. They have an impact on governments and corporations in addition to individuals. NBFCs and banks are the most well-known financial organizations for all needs related to money. But what distinguishes them from one another? A bank and a non-banking financial company (NBFC) are two distinct types of financial organizations that operate under very different regulations and have very different business strategies. A non-bank financial company, or NBFC, is a business that conducts comparable banking activities without a banking license. A bank is an approved government financial institution.