NBFC
                     DIFFERENCE 
BETWEEN NBFC AND 
BANK
COMPANYREGISTRATIONONLINE. IN
DEFINITION
NBFC
NBFC is a company that provides banking services without holding a 
bank license.
BANK
Banks are authorized by the government that provides banking services 
to the general public.
INCORPORATION
NBFC
It is incorporated under the Companies Act,1956
BANK
It is incorporated under the Banking Regulation Act, 1949.
DEMAND 
DEPOSITS
NBFC
These companies cannot accept demand deposits.
BANK
Banks are authorized to accept demand deposits.
PAYMENT AND SETTLEMENT 
SYSTEM
NBFC
These are not the part of payment and settlement system and so these 
cannot issue cheques drawn on itself.
BANK
These are an integral part of the payment and settlement system and so 
can issue cheques drawn on itself.
CREDIT CREATION AND TRANSACTION 
SERVICES
NBFC
These are not the part of payment and settlement system and so these 
cannot issue cheques drawn on itself.
BANK
These are an integral part of the payment and settlement system and so 
can issue cheques drawn on itself.