Exploring NBFC Balance Sheet

A Non-Banking Financial Company (NBFC) looks similar to a bank at first glance — it lends, it borrows, and it intermediates capital. But structurally, its balance sheet tells a very different story. Unlike banks, NBFCs do not accept demand deposits and rely heavily on market borrowings, bank funding, or structured debt. This makes their funding model more sensitive to liquidity cycles and investor confidence. 

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