1.

What are non – banking financial institutions? What are the services not provided by non banking financial institutions compared to banking institutions?

Answer»

Non banking financial institutions operate in the financial sector but do not perform all the functions of a bank. They perform the basic functions of banks such as accepting deposits and lending loans. But they do not provide the following services.

  • Withdrawal of cash using cheques 
  • Mail transfer 
  • Locker facilities 


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