NBFC- Another blow coming our way?NBFCs (Non banking finance companies) are firms or companies that trade in shares, stocks, loans etc. These are similar to banks. One of the reports quotes that the public should be aware of these and not involve in transactions.
The FIU - finance intelligence unit has released a list of around 9500 companies. This accounts for around 80% of the companies in the country.The FIU's primary aim is to alert ED about crimes related to Indian Economy.
Finance and economy are not within my grasp but I feel we are in for more pain in the near future. Can someone familiar with this cast more light for people like me.
(PS: references are not given as many major papers have reported this)