A STUDY OF NON-BANKING FINANCIAL COMPANIES, ROLES, AND MARKETING STRATEGIES IN INDIA

Abstract

Non-Banking Financial Companies (NBFCs) play a pivotal role in the Indian economy, serving as crucial intermediaries that complement traditional banking institutions. Their significance lies in their ability to cater to diverse financial needs of businesses and individuals, especially those in underserved or unbanked regions. NBFCs contribute significantly to financial inclusion by offering a wide range of financial products and services, including loans, leasing, hire purchase, and investment products. Their flexibility in evaluating creditworthiness and quicker decision-making processes make them accessible to a broader spectrum of borrowers, fostering economic growth. Additionally, NBFCs often specialize in niche segments, addressing specific industry requirements that traditional banks may overlook. This enhances the overall resilience and diversity of the financial system, promoting a more inclusive and robust economic landscape in India. However, regulatory oversight remains essential to ensure the stability and integrity of the NBFC sector, maintaining the delicate balance between innovation and risk management. This paper provides brief introduction to Non-Banking Financial Companies. Its roles in the Indian economy and its marketing strategies. , which they use for reaching to customer on vast extent and give them the best possible solution for all the financial needs. It may be person specific, group specific or geography specific. Keywords: Non-Banking Financial Companies, NBFCs, Roles of NMBFCs, Marketing Strategies, Financial Inclusion, Digital Marketing, Regulatory Compliance.