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What is the difference between Financial and non financial institutions?
Wiki User
∙ 9y ago
The main difference between financial and non financial institutions is in their functions. Financial institutions will accepts deposits and offer financial services like loans and so on while non-financial institutions do not engage in financial activities.
Wiki User
∙ 9y ago
Wiki User
∙ 13y agoA Non-Banking Financial Company or a NBFC as they are more commonly called provide financial services to customers but they are not authorized to collect customer deposits and provide deposit accounts. Whereas the bank is authorized to do both. That is the difference between a NBFC and a bank.
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