The transformation of Non-Banking Financial Companies (NBFC) in India in the past few years plays an important role in growth of Indian Financial system. NBFC’s have emerged successful as compared to Banks as their customized product offerings help individuals with their financial needs.
NBFC Credit Market growth is as shown below.
NBFC’s grow at an average rate of 4%-6% every year. Following are the major factors that led to the growth of NBFC’s in India
Understanding the customer
Customized product offering
Reaching out to wider audience
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