As far as credit is concerned, India lags its western counterparts. The country's outstanding credit is just 15% of its GDP against the global average of 80% as of September 2021. So clearly, there is a lot that needs to be done to expand the country's credit base. This is where non-banking financial companies (NBFC) come into the picture. NBFCs are a breed of financial institutions that play a crucial role in India's credit ecosystem. These companies differ from traditional banks in several aspects. A crucial difference between an NBFC and a bank is the ability to raise deposits. Banks can accept all sorts of deposits - demand and time - whereas NBFC can't accept demand deposits. Nonetheless, an NBFC and a bank work quite similarly as far as credit creation is concerned. In fact, NBFCs along with the banks work with a single objective of expanding the credit base of the country while being profitable. In India, NBFCs have become important constituents of the financial sector. Over the last decade, they have experienced phenomenal growth. As a result, they have surpassed the traditional banks in terms of credit growth. It is expected that they would retain their growth momentum going forward. Given bright growth prospects, it's worth looking at the top Indian NBFCs from an investing perspective.
As far as credit is concerned, India lags its western counterparts. The country's outstanding credit is just 15% of its GDP against the global average of 80% as of September 2021. So clearly, there is a lot that needs to be done to expand the country's credit base. This is where non-banking financial companies (NBFC) come into the picture. NBFCs are a breed of financial institutions that play a crucial role in India's credit ecosystem. These companies differ from traditional banks in several aspects. A crucial difference between an NBFC and a bank is the ability to raise deposits. Banks can accept all sorts of deposits - demand and time - whereas NBFC can't accept demand deposits. Nonetheless, an NBFC and a bank work quite similarly as far as credit creation is concerned. In fact, NBFCs along with the banks work with a single objective of expanding the credit base of the country while being profitable. In India, NBFCs have become important constituents of the financial sector. Over the last decade, they have experienced phenomenal growth. As a result, they have surpassed the traditional banks in terms of credit growth. It is expected that they would retain their growth momentum going forward. Given bright growth prospects, it's worth looking at the top Indian NBFCs from an investing perspective.As far as credit is concerned, India lags its western counterparts. The country's outstanding credit is just 15% of its GDP against the global average of 80% as of September 2021. So clearly, there is a lot that needs to be done to expand the country's credit base. This is where non-banking financial companies (NBFC) come into the picture. NBFCs are a breed of financial institutions that play a crucial role in India's credit ecosystem. These companies differ from traditional banks in several aspects. A crucial difference between an NBFC and a bank is the ability to raise deposits. Banks can accept all sorts of deposits - demand and time - whereas NBFC can't accept demand deposits. Nonetheless, an NBFC and a bank work quite similarly as far as credit creation is concerned. In fact, NBFCs along with the banks work with a single objective of expanding the credit base of the country while being profitable. In India, NBFCs have become important constituents of the financial sector. Over the last decade, they have experienced phenomenal growth. As a result, they have surpassed the traditional banks in terms of credit growth. It is expected that they would retain their growth momentum going forward. Given bright growth prospects, it's worth looking at the top Indian NBFCs from an investing perspective.As far as credit is concerned, India lags its western counterparts. The country's outstanding credit is just 15% of its GDP against the global average of 80% as of September 2021. So clearly, there is a lot that needs to be done to expand the country's credit base. This is where non-banking financial companies (NBFC) come into the picture. NBFCs are a breed of financial institutions that play a crucial role in India's credit ecosystem. These companies differ from traditional banks in several aspects. A crucial difference between an NBFC and a bank is the ability to raise deposits. Banks can accept all sorts of deposits - demand and time - whereas NBFC can't accept demand deposits. Nonetheless, an NBFC and a bank work quite similarly as far as credit creation is concerned. In fact, NBFCs along with the banks work with a single objective of expanding the credit base of the country while being profitable. In India, NBFCs have become important constituents of the financial sector. Over the last decade, they have experienced phenomenal growth. As a result, they have surpassed the traditional banks in terms of credit growth. It is expected that they would retain their growth momentum going forward. Given bright growth prospects, it's worth looking at the top Indian NBFCs from an investing perspective.As far as credit is concerned, India lags its western counterparts. The country's outstanding credit is just 15% of its GDP against the global average of 80% as of September 2021. So clearly, there is a lot that needs to be done to expand the country's credit base. This is where non-banking financial companies (NBFC) come into the picture. NBFCs are a breed of financial institutions that play a crucial role in India's credit ecosystem. These companies differ from traditional banks in several aspects. A crucial difference between an NBFC and a bank is the ability to raise deposits. Banks can accept all sorts of deposits - demand and time - whereas NBFC can't accept demand deposits. Nonetheless, an NBFC and a bank work quite similarly as far as credit creation is concerned. In fact, NBFCs along with the banks work with a single objective of expanding the credit base of the country while being profitable. In India, NBFCs have become important constituents of the financial sector. Over the last decade, they have experienced phenomenal growth. As a result, they have surpassed the traditional banks in terms of credit growth. It is expected that they would retain their growth momentum going forward. Given bright growth prospects, it's worth looking at the top Indian NBFCs from an investing perspective.As far as credit is concerned, India lags its western counterparts. The country's outstanding credit is just 15% of its GDP against the global average of 80% as of September 2021. So clearly, there is a lot that needs to be done to expand the country's credit base. This is where non-banking financial companies (NBFC) come into the picture. NBFCs are a breed of financial institutions that play a crucial role in India's credit ecosystem. These companies differ from traditional banks in several aspects. A crucial difference between an NBFC and a bank is the ability to raise deposits. Banks can accept all sorts of deposits - demand and time - whereas NBFC can't accept demand deposits. Nonetheless, an NBFC and a bank work quite similarly as far as credit creation is concerned. In fact, NBFCs along with the banks work with a single objective of expanding the credit base of the country while being profitable. In India, NBFCs have become important constituents of the financial sector. Over the last decade, they have experienced phenomenal growth. As a result, they have surpassed the traditional banks in terms of credit growth. It is expected that they would retain their growth momentum going forward. Given bright growth prospects, it's worth looking at the top Indian NBFCs from an investing perspective.As far as credit is concerned, India lags its western counterparts. The country's outstanding credit is just 15% of its GDP against the global average of 80% as of September 2021. So clearly, there is a lot that needs to be done to expand the country's credit base. This is where non-banking financial companies (NBFC) come into the picture. NBFCs are a breed of financial institutions that play a crucial role in India's credit ecosystem. These companies differ from traditional banks in several aspects. A crucial difference between an NBFC and a bank is the ability to raise deposits. Banks can accept all sorts of deposits - demand and time - whereas NBFC can't accept demand deposits. Nonetheless, an NBFC and a bank work quite similarly as far as credit creation is concerned. In fact, NBFCs along with the banks work with a single objective of expanding the credit base of the country while being profitable. In India, NBFCs have become important constituents of the financial sector. Over the last decade, they have experienced phenomenal growth. As a result, they have surpassed the traditional banks in terms of credit growth. It is expected that they would retain their growth momentum going forward. Given bright growth prospects, it's worth looking at the top Indian NBFCs from an investing perspective.As far as credit is concerned, India lags its western counterparts. The country's outstanding credit is just 15% of its GDP against the global average of 80% as of September 2021. So clearly, there is a lot that needs to be done to expand the country's credit base. This is where non-banking financial companies (NBFC) come into the picture. NBFCs are a breed of financial institutions that play a crucial role in India's credit ecosystem. These companies differ from traditional banks in several aspects. A crucial difference between an NBFC and a bank is the ability to raise deposits. Banks can accept all sorts of deposits - demand and time - whereas NBFC can't accept demand deposits. Nonetheless, an NBFC and a bank work quite similarly as far as credit creation is concerned. In fact, NBFCs along with the banks work with a single objective of expanding the credit base of the country while being profitable. In India, NBFCs have become important constituents of the financial sector. Over the last decade, they have experienced phenomenal growth. As a result, they have surpassed the traditional banks in terms of credit growth. It is expected that they would retain their growth momentum going forward. Given bright growth prospects, it's worth looking at the top Indian NBFCs from an investing perspective.As far as credit is concerned, India lags its western counterparts. The country's outstanding credit is just 15% of its GDP against the global average of 80% as of September 2021. So clearly, there is a lot that needs to be done to expand the country's credit base. This is where non-banking financial companies (NBFC) come into the picture. NBFCs are a breed of financial institutions that play a crucial role in India's credit ecosystem. These companies differ from traditional banks in several aspects. A crucial difference between an NBFC and a bank is the ability to raise deposits. Banks can accept all sorts of deposits - demand and time - whereas NBFC can't accept demand deposits. Nonetheless, an NBFC and a bank work quite similarly as far as credit creation is concerned. In fact, NBFCs along with the banks work with a single objective of expanding the credit base of the country while being profitable. In India, NBFCs have become important constituents of the financial sector. Over the last decade, they have experienced phenomenal growth. As a result, th
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