Non-Banking Financial Companies (NBFCs): Alternative Lending Solutions
Non-Banking Financial Companies (NBFCs) provide a wide range of financial services, including loans, insurance, and investments, without holding a banking license. They play a crucial role in offering business loans, personal loans, vehicle financing, and MSME funding, especially for those who may not qualify for traditional bank loans. NBFCs often have flexible eligibility criteria and faster loan approvals, making them a preferred choice for many borrowers.
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