Testing Reports under FSSAI
Food Safety and Standards Authority of India (FSSAI) on dated 13th January 2023 issued an order to upload mandatorily food testing reports for Manufacturer and
Food Safety and Standards Authority of India (FSSAI) on dated 13th January 2023 issued an order to upload mandatorily food testing reports for Manufacturer and
A public notice issued by The Ministry of Commerce & Industries dated 6th February 2023, through this notice the department is likely to treat all
We are living in the 21st century an era of digitation we are surrounded by the digital world, all thanks to the internet. Internet users
Patents are one of the crucial and most important Intellectual Property Rights for any inventor and business organization. Every inventor wants to protect their invention
First Compliance after Company Registration FORM INC-20A “DECLARATION FOR COMMENCEMENT OF BUSINESS” In this article, we discussed the Declaration for commencement of business Form INC-20A
A Non-Banking Financial Company (NBFC) is a corporate entity doing business in the sector of Finance services. They could be a Private Limited Company or a Public Limited Company functioning similar to the banks but they are not banks. To operate any NBFC a license from RBI under section 45-I(c) to be obtain.
NBFC must be engaged in the business of Loans and Advances, Acquisition of stocks, equities, debt etc issued by the government or any local authority or other marketable securities. A non-banking institution which is a company and has principal business of receiving deposits under any scheme or arrangement by any mode is also a non-banking financial company.
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Basis | Banks | NBFC |
---|---|---|
Meaning | Bank is a government entitled financial intermediary which aims to provide banking services to customers. | NBFC is a company which provides services similar to banking services to people without holding a bank license. |
Registered under | A bank is registered under banking regulation act, 1949. | NBFC is registered under company’s act 1956. |
Deposit | Banks accept and lend deposit. | NBFC do not accept and lend deposit. |
Investment | In banks a foreign investment is limited up to a certain fixed limit. | In NBFC, Foreign investment is allowed up to 100 percent. |
Payment system | Payment and settlement is the core activity of banks. | In NBFC, the payment system is not a part of the activity. |
Demand draft | Bank can issue self-demand draft on itself. | NBFC cannot issue self-demand draft their own. |
Cheque drawn | Banks can draw a self-chequeby their own. | NBFC cannot draw self-cheque their own. |
Credit creator | Banks can create credit through multiplier financial activities. | NBFC cannot do it. |
Transaction services | Bank provides a variety of transaction services. | NBFC does not facilitate transaction services. |