I am well aware of the differences between NBFCs and Banks.
However, there is one question that really has made me scratch my head: Why NBFCs when there are banks?
I mean what is the purpose of NBFCs in an economy? Why doesn't RBI provides licenses to more banks rather than providing licenses to NBFCs?
Chirag P Shah & Co. Chartered Accountant
Pune
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AJAY SINGH AND CO LLP
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