Published Paper Details:

Non-Banking Finance Companies (NBFCs) have played an important role in the Indian financial system by complementing and competing with banks, and by bringing in efficiency and diversity into financial intermediation. NBFCs have evolved considerably in terms of operations, heterogeneity, asset quality and profitability, and regulatory architecture. Going forward, the growing systemic importance and interconnectedness of this sector calls for regulatory vigil. This study represents an impact of NBFC on Indian Economy. There was a total of 9680 NBFCs registered with the Reserve Bank of India as on 2022. The study is aimed to provide an holistic view of the NBFC Industry and its impact on Indian Economy. NBFC fulfills the financial gap by providing loan at a lower rate of interest. It was found that at even at the time of the economic slowdown NBFC was more profitable. The industry is not tightly regulated as there are many regulatory bodies. Hence, there was an important need to study the NBFC as the industry plays an important role in the financial Services market of India.