What are the key roles of an NBFC?

Non-Banking Financial Companies (NBFCs) serve several important roles in the financial sector. They provide different services like loans and credit facilities, help people and businesses buy assets such as vehicles and machinery, and invest in different types of securities. NBFCs also offer financial support to big projects, like building roads or bridges, and give small loans to people with low incomes to help them start businesses or improve their lives. By fulfilling these roles, NBFCs help boost the economy, offer financial solutions beyond traditional banking, and contribute to financial stability.

What are the key roles of an NBFC?