NBFC Companies: Creating a Better India

Posted by Rihanna Dsouza on July 27th, 2018

27th July, New Delhi - Money is the root of every problem as well as every solution on this planet. The life cycle of most of the middle-class group person includes earning money to learn and learning to earn money. Their life is a complete loophole and revolves around earning money only. In this scenario, the loan system acts as an angel to these people. There are many banking as well as non-banking financial institutions which provide loan facilities to these people. One can easily locate banking as well as NBFC Companies in Delhi.

Banks help these people to break the loophole by providing them with the money to learn in the form of an educational loan. They provide these loans with or without any collateral being issued by these people. Loans are important because everyone wants to study in the best schools or universities in order to get best placement opportunities but fees of such universities and schools are skyrocketing every year and has become out of the limit of middle-class people. Thus banks provide them with the opportunity to first learn in these universities and then earn and repay these loans.

However, only the tuition fees charged by these schools and universities are financed by these banks and that too only of the renowned professional courses. But in this cut-throat competing world, learning only one professional course is not enough to get the job of dreams. One need extra effort and knowledge to get a satisfactory placement. So, the need for skill development courses is aroused.

Many courses help in assisting the formal education and are necessary to perform a particular set of jobs like Tally ERP for accounting jobs, JavaScript for I.T. and lot more. These courses are as important as the formal educational courses. But these are not considered by the banks while providing loans and people have to take personal loans for them at quite higher interest rates by the banks.

Therefore, nowadays a new saviour is born in this field in the form of non-banking financial companies (nbfc) which provide the loans for this kind of education too and that too at quite nominal interest rates. Some provide these on collateral basis while some don't, depending upon their individual policies. They are also economically beneficial as they provide many banking services as well as non-banking services which help in generating more and more employment and helps in framing a better nation.

There are many important roles played by these nbfc companies like developing infrastructure, employment generation, financing economically weaker section, mobilisation of resources by converting savings into investments, capital formation and lot more. These roles make the nbfc even more important to the economy.

To create employment one needs to invest more and should have a mentality to generate employment instead of becoming an employee. This can be done if they aremotivated in the direction of establishing their own startup instead of working for anyone else. Nbfc promotes entrepreneurship by advancing loans to such people and providing different ideas and help in establishing their own enterprise.

Therefore, there are number of Nbfc Companies in Delhi for a reason as they provide lots of resources and help to the middle-class people for smooth life cycle and also helps in the development of the nation in many different ways.

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