What is the major difference between an NBFC and a Bank? - General Knowledge Today

What is the major difference between an NBFC and a Bank?

Unlike the Banks, they cannot accept demand deposits, they are not part of the payment and settlement system and they cannot issue cheques drawn on them. The facility of deposit insurance by Deposit insurance and Credit Guarantee Corporation is not available for NBFC's.

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Last Updated: January 30, 2012