NBFC registration provides a diverse range of very specific financial services, except the traditional banking ones. India, unlike any other country in the world, provides licenses for 10 different types of NBFC institutions.
India's financial sector is massive and intricate. The Indian financial sector includes commercial banks and non-banking financial companies, or NBFCs. Let's start with a definition of NBFCs. As the name implies, an NBFC (Non-Banking Financial Company) is a financial institution that is not a bank.