Beyond traditional banks, non banking financial companies (NBFCs) play a significant role in providing credit. They offer personal loans, business loans, vehicle financing, and microfinance services. NBFCs often provide quicker approvals, easier documentation, and flexible products compared to banks. They cater especially to individuals and businesses who may not qualify for conventional loans. With growing popularity, NBFCs have become a reliable source of funding for millions. They bridge the gap between borrowers and formal banking, making financial services more inclusive and accessible across different sectors. |
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