Difference between NBFC, MFI, General Banking.

Question

Accepted Answer

NBFCs are financial institutions that provide banking services without meeting the legal definition of a bank. MFIs are institutions that provide financial services to low-income individuals. General banking refers to traditional banking services offered by banks.

NBFCs provide banking services like loans and credit facilities but do not hold a banking license.
MFIs focus on providing financial services to low-income individuals and small businesses.
General banking includes services like deposits, loans, and other financial products offered by traditional banks.
Examples of NBFCs include Bajaj Finance and L&T Finance. Examples of MFIs include SKS Microfinance and Bandhan Bank.

Difference between NBFC, MFI, General Banking.

Popular interview questions of Assistant Manager

Top HR questions asked in Annapurna Finance Assistant Manager