Evolution and Regulation of Non-Banking Financial Companies (NBFCs) in India: A Comprehensive Overview

INTRODUCTION A non-banking financial company (NBFC) is a company registered under the Companies Act 2013, and its operations are regulated by the Reserve Bank of India (RBI) under the framework of Chapter III -B (Provisions Relating to Non-Banking Institutions Receiving Deposits and Financial Institutions). Although Chapter III exclusively dealt with NBFCs, the word NBFC was…