Non-Banking Financial Companies (NBFCs) are financial institutions also known as India’s shadow banking sector, a big source of credit to the country’s small and medium enterprises, realtors, homebuyers and consumers. Unlike the formal banking sector, they cannot accept deposits from the public; they borrow money from banks or sell commercial papers to mutual funds to raise money. Gold loans, consumer durable loans, two-wheeler loans, vehicle finance and loan against property are the segments where NBFCs have a very strong presence across the country. Click here to read the rest.