Development of non banking financial sector in india
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Its accepted by all that NBFCs is playing significant role in channelizing scarce financial resources in capital formation.
NBFCs have supplemented role of organised banking sector by bridging credit gaps i.e. in meeting increasing financial needs of corporate sector, delivering credit to unorganized sector and small local borrowers.
NBFCs have enjoyed more flexible structure than banks in organised sector.
Time to time Central Government and Reserve Bank of India been working towards regulation of NBFCs.
Department of Non-Banking Supervision of RBI is engrossed in these activities of regulating and supervising NBFCs.
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