A STUDY OF COMPARISON OF NBFCs AND COOPERATIVE BANK

IN PARTIAL FULFILLMENT OF THEREQUIREMENTS FOR

Master of Management Studies
(University of Mumbai)

2022-2024 Batch

Name of the Student: KAJAL PRADEEPKUMAR GUPTA

Roll Number: P15

SUBMITTED TO:

DR. V. N. BEDEKAR INSTITUTE OF MANAGEMENT STUDIES,

THANE

1
 DECLARATION BY THE CANDIDATE

This is to certify project report entitled A STUDY OF NON- BANKING FINANCIAL

COMPANIES (NBFC’S) ISSUES CHALLENGE” which is submitted by me in partial fulfillment
of the requirement for the award of Master of Management Studies,(University of Mumbai) Dr. V.N.
Baedeker Institute of Management Studies, comprises of my original work and due acknowledgment
has been made in the text to all other material used.

Wherever references have been made to intellectual properties of any individual / Institution /
Government / Private / Public Bodies / Universities, research paper, text books, reference books,
research monographs, archives of newspapers, corporate, individuals, business / Government and any
other source of intellectual properties viz., speeches, quotations, conference proceedings, extracts from
the website, working paper, seminal work et al,they have been clearly indicated, duly acknowledged
and included in the Bibliography.

____________________________________
Date & Signature of Candidate

2
 CERTIFICATE BY THE GUIDE

This is to certify that project report entitled A STUDY OF NON- BANKING FINANCIAL
COMPANIES (NBFC’S) ISSUES CHALLENGE which is submitted by KAJAL
PRADEEPKUMAR GUPTA in partial fulfillment of the requirement for the award of Master of
Management Studies, (University of Mumbai) Dr. V.N. Bedekar Institute of Management Studies, is a
record of the candidate's own work carried out by him under my guidance. The matter embodied in this
report is original and due acknowledgment has been made in the text to all other material used.

Authorized Signatory:
Date:

3
4
 Content of summer Internship Project Report

Sr. No Topics Page No.

1 Executive Summary 6

2 Industry Analysis 7-12

2.1 Size of the NBFCs Industry in India
2.2 Major Players in the Industry
2.3 Market Share of major player
2.4 Industry Financial
2.5 Challenges faced by the industry
3 About the company 13-21
3.1 The genesis of the company and its vision and mission
3.2 Product and services
3.3 Position in the industry
3.4 Stakeholders detail
3.5 Location and operational details
3.6 Challenge faced by the cooperative bank
3.7 SWOT Analysis of the bank
4 On the job training 22-23
4.1 Work Responsibilities Assigned
4.2 Technical/ Managerial skills gained
4.4 Key Results Areas
4.5 Task Accomplished
5 Research on the challenges faced by the company 24-30
5.1 Problem Identification
5.2 Literature Review
5.3 Challenge faced by company
5.4 Different between on NBFCs vs. cooperative bank
5.5 Segment share of NBFCs and Bank in retail finance
6 Results and Recommendation 31-34
6.1 Findings
6.2 Suggestions
6.3 Conclusion
6.4 References

5
 1. Executive Summary

At GP Parsik Bank, a renowned cooperative bank in Maharashtra, I had the honors of completing a
two-month internship. I had the opportunity to contribute to the organization's goals, learn critical skills
that are necessary for a successful career in finance, and obtain practical experience in the banking
industry thanks to this internship. I was given the opportunity to work with seasoned experts and
contribute to numerous elements of banking operations when I was given the Retail Banking
Department as my internship location. Assisting consumers with their banking needs, such as account
questions, transactions, and product information. Responded to questions and issues from customers,
providing high levels of customer satisfaction. Conducted Know Your Customer (KYC) and anti-
money laundering (AML) checks to make sure banking requirements were being followed. A thorough
awareness of the rules and regulations regulating the financial sector. Helped consumers overcome
technical issues and navigate digital banking platforms. Supported the bank's initiatives to advertise its
mobile and internet banking services. Maintained accurate records of client interactions and activities,
guaranteeing the confidentiality and integrity of the data. Acquired expertise in record-keeping
techniques necessary for banking operations. Facilitated productive teamwork among coworkers by
collaborating well with them. Met with the team, contributed to conversations, and helped solve
problems. I kept learning more about the services, products, and rules in the banking industry. Gained
practical knowledge of duties including money, providing for customers, and compliance.

My internship at the GP Parsik Bank gave me the opportunity to apply the knowledge I had learned in
class to actual situations, which was a priceless learning opportunity. I gained knowledge of the
complexities of the banking business while also developing crucial technical and interpersonal abilities.
My desire to work in finance and banking has been strengthened by this internship, and I'm excited to
use the knowledge and abilities I've gained to contribute well to projects in the industry in the future. I
would like to express my sincere gratitude to the staff at GP Parsik Bank for their advice and
mentorship throughout my internship. I am certain that the knowledge I've picked up and the
experiences I've had throughout my internship will lay a solid foundation for my future professional
development.

6
 2. Industry Analysis

2.1 Size of the NBFC Industry in India

The Non-Banking Financial Companies (NBFC) industry in India has emerged as a significant segment
of the country's financial landscape, complementing the traditional banking sector and contributing to
the nation's economic growth. Over the years, NBFCs have played a crucial role in extending credit to
underserved and unbanked sections of society, thereby promoting financial inclusion. The size of the
NBFC industry is determined by various factors, including the total assets under management (AUM),
credit disbursements, and the overall contribution to the financial system.

1. Total Assets Under Management (AUM):

One of the primary metrics used to gauge the size of the NBFC industry is the total AUM. AUM
represents the aggregate value of all the financial assets managed by NBFCs, including loans,
advances, investments, and other financial products. This figure provides an essential snapshot of the
industry's scale and the financial resources at its disposal. The AUM of the NBFC industry has been
witnessing steady growth, driven by rising credit demand and innovative product offerings.

2. Credit Disbursements:
Credit disbursements by NBFCs are another key indicator of the industry's size. This metric reflects
the volume of loans and credit extended by NBFCs to various segments of the economy, such as retail
consumers, small businesses, and rural areas. The credit disbursements highlight the industry's role in
supporting economic activities and meeting the credit needs of diverse sectors. It is essential to analyze
the trends in credit disbursements over time to understand the industry's growth trajectory.

3. Contribution to the Financial System:

The NBFC industry's contribution to the overall financial system is measured by its share in the total
credit extended to the economy. This can be presented in terms of a percentage, indicating the
proportion of credit provided by NBFCs relative to banks and other financial institutions. A higher
percentage indicates a more substantial presence and influence of NBFCs in the financial system.

4. Regulatory Classification:
The Reserve Bank of India (RBI), India's central banking institution, classifies NBFCs into different
categories based on their size and activities. The classification includes deposit-taking NBFCs and non-
deposit-taking NBFCs. Deposit-taking NBFCs have the authority to accept public deposits, while non-
deposit-taking NBFCs do not have this privilege. The size of the industry is influenced by the number
and types of NBFCs operating in the market.

5. Market Capitalization of Listed NBFCs:

For NBFCs that are publicly listed on stock exchanges, their market capitalization serves as an
indicator of the industry's overall valuation. Market capitalization is calculated by multiplying the
company's share price by the total number of outstanding shares. It reflects investors' perception of the
NBFC's financial health, growth prospects, and overall market sentiment.
7
2.2 Major Players in the Industry:

Some of the major players in the Indian NBFC industry included:

1. Finance: Bajaj Finance is known for its diversified lending portfolio, including consumer finance,
SME lending, and commercial lending.

2. Shriram Transport Finance Company (STFC): STFC is a specialized NBFC that primarily
focuses on financing commercial vehicles, making it a prominent player in the vehicle financing
segment.

3. Mahindra & Mahindra Financial Services (MMFSL): MMFSL is a subsidiary of Mahindra &
Mahindra Limited, and it specializes in providing financial solutions for the purchase of Mahindra
vehicles and equipment.

4. Kotak Mahindra Prime Limited (KMPL): KMPL is a subsidiary of Kotak Mahindra Bank and is
engaged in financing passenger cars.

5. L&T Finance Limited: L&T Finance offers a wide range of financial products and services,
including vehicle finance, rural finance, and infrastructure finance.

6. Tata Capital Financial Services Limited: Tata Capital offers various financial products, including
consumer finance, commercial finance, and wealth management services.

7. Indiabulls Housing Finance Limited: Although primarily known for its housing finance
operations, Indiabulls Housing Finance also provides various other financial services.

8. Muthoot Finance Limited: Muthoot Finance is a leading NBFC that specializes in providing gold
loans.

9. Bajaj Finserv Limited: Bajaj Finserv operates various subsidiaries, including Bajaj Finance, Bajaj
Allianz General Insurance, and Bajaj Allianz Life Insurance, offering a wide range of financial
products and services.

These are just a few examples of major players in the Indian NBFC industry. Many other NBFCs
operate in various sectors and regions across the country, contributing to the industry's overall
growth and diversification. When conducting a current analysis, it is essential to consider the latest
financial reports and industry updates to identify the current major players in the Indian NBFC
space.

8
2.3 Market Share of major player
Major Players' Market Share According to their areas of expertise and geographic reach as of my most
recent update in September 2021, the key firms in India's Non-Banking Financial Companies (NBFC)
industry had varying market shares. Note that a number of factors, such as corporate strategy, mergers,
acquisitions, and new market entrants, can cause market share to shift over time. I advise consulting the
most recent market share statistics from official sources, financial statements, and industry reports.
Here is a general breakdown of the market shares of various key players as of September 2021, though:

Bajaj Finance: Bajaj Finance is known for its diversified lending portfolio, including consumer
finance, SME lending, and commercial lending. It had seen strong expansion in recent years and owned
a sizable market position in the consumer finance sector.

Shriram Transport Finance Company (STFC): STFC is an important player in the vehicle finance
market as it specializes in financing commercial vehicles. In this particular market segment, it had a
substantial market share.

Mahindra & Mahindra Financial Services (MMFSL): MMFSL is a division of Mahindra &
Mahindra Limited and focuses on offering financing options for the acquisition of Mahindra machinery
and automobiles. It held a substantial market share in the financing of vehicles.

L&T Finance Limited: L&T Finance Vehicle financing, rural financing, and infrastructure financing
are just a few of the many financial services and products provided by L&T Finance Limited. Its broad
portfolio caused its market share to fluctuate.

9
Tata Capital Financial Services Limited: Tata Capital provided a range of financial services,
including wealth management, consumer credit, and commercial lending. In some markets, it had a
substantial market share.

Indiabulls Housing Finance Limited: Indiabulls Housing Finance owned a substantial market share
in the housing finance industry and was best known for its housing finance operations.

Muthoot Finance Limited: Muthoot Finance was a well-known NBFC that offered loans for gold. In
the market for gold loans, it held a large market share.

Please be aware that over time, due to various market factors and competitive forces, the market share
of these NBFCs may change. In addition, there are other additional NBFCs functioning in India, each
with a distinct market share. It is advised to consult the most recent financial reports, industry journals,
and official regulatory sources for the most current and accurate market share data.

10
2.4 Industry financial

Various financial metrics and performance indicators that offer insights into the overall health and
performance of the industry can be included in industry financial statistics for the NBFC sector in
India. Consider some of the important financial issues of the industry:
Total Assets under Management (AUM): The value of AUM, which includes loans, advances,
investments, and other financial products, is the total amount of assets managed by NBFCs.
Revenue and Profitability: Consider the industry's overall revenue and profitability patterns over
time when analyzing revenue and profitability. This includes total revenue, net interest revenue, and net
profit, which taken together show the sector's capacity for revenue generation.
Return on Assets (ROA) and Return on Equity (ROE): ROA metrics for comparing an industry's
profitability to its total assets and shareholders' equity, respectively. These ratios shed light on how
effectively the sector generates returns.
Net Interest Margin (NIM): The difference between the income earned on assets and the interest paid
on liabilities is known as the net interest margin (NIM). It offers information about the interest rate
spread and interest income production in the sector.
Metrics for Asset Quality: Measures for Asset Quality include the Gross NPA (Non-Performing
Assets) ratio and the Net NPA ratio. These ratios show the caliber of the loan portfolio and the sector's
capacity for credit risk management.
Liquidity Ratios: Liquidity ratios, such as the current ratio and quick ratio, can be used to assess an
industry's capacity to pay short-term obligations.
Capital Adequacy: Examine the capital adequacy ratios for the sector, such as the Capital Adequacy
Ratio (CAR), which determines the sector's capacity to withstand losses.
Cost-to-Income Ratio: This ratio assesses how well an industry controls operating costs in relation to
overall revenue.
Credit Growth: Examine the growth rate of credit extended by NBFCs to determine the sector's
contribution to the economy.

11
2.5 CHALLENGES FACED BY THE INDUSTRY
Non-Banking Financial Companies (NBFCs) offer a wide range of financial services to consumers and
businesses, which helps them to play a significant role in the financial industry. But NBFCs confront a
number of difficulties and problems, just like any other sector of the economy. NBFC business
struggles with a number of major difficulties, such as:

1. Regulatory Changes: NBFCs must adapt to changing regulations and compliance standards.
Regulator turbulence can make compliance more expensive for NBFCs and lead to uncertainty.

2. Credit Risk: Managing credit risk is NBFCs' top priority. Maintaining the quality of the loan
portfolio, determining borrowers' creditworthiness, and managing non-performing assets (NPAs) are
constant issues.

3. Funding Challenges: For NBFCs, raising money can be difficult, particularly during periods of
unstable markets or the economy. Their ability to conduct business depends on having access to
reasonable financial source.

4. Competition: The NBFC industry is highly competitive, with both established financial institutions
and fresh fintech startups joining the market. Margin and profitability may be under strain as a result of
this competition.

5. Governance and Risk Management: Ensuring strong governance frameworks and efficient risk
management procedures is essential for preserving investor and consumer confidence.

6. Cyber security and Data Privacy: As financial services become more digitally oriented, NBFCs
must contend with cyber security risks and the sometimes-complex and expensive requirements of data
privacy laws.

7. Access to Credit Information: It can be difficult, especially for smaller NBFCs, to obtain accurate
and timely credit information on borrowers, which can have an impact on their risk management and
lending decisions.

8. Interest Rate Risk: If NBFCs are heavily exposed to loans with variable interest rates, fluctuations
in interest rates can have an adverse effect on their profitability and risk profile.

12
 3. ABOUT THE COMPANY

In the year 1972 the Government of Maharashtra acquired all agricultural land of 68 villages of Thane-
Belapur belt in Thane district of Maharashtra, for the purpose of setting up a new city i.e. “New
Bombay”. To equip the project affected persons and their family members with strength and ability, to
survive with new urban means of livelihood, it was necessary to provide them financial assistance.
With a view to provide financial assistance, generate employment and means of livelihood, Late Shri.
Gopinathdada Shivram Patil a great visionary Leader along with a group of youngsters of Kalwa
village took the initiative of formation of Urban Co-operative Bank. The bank was named as “Parsik”
because active jurisdiction of bank was the west side area of Parsik Hill, which has range from Kalwa
to Belapur (the famous Parsik Railway Tunnel is situated in the same range). “Parsik” also means
Parshwanath (Lord Shiva), whose temple exists on the hill.
The bank depicts transparency, trust, customer service, excellence and team work as its Core Values.
With the consistent and concerted efforts of all the devoted Directors, employees and well-wishers, the
bank achieved “Scheduled Status” on 30th January, 1998. Consequent upon achieving Scheduled Status
the area of operation of the Bank was extended to the entire State of Maharashtra.
Since then, the bank started showing remarkable presence in the Co-operative Banking Sector. The
bank was growing by opening its branches in the districts of Thane, Navi Mumbai, Raigad, Nashik,
Pune and Kolhapur. In 2010, the bank acquired I chalkaraji Mahila Sahakari Bank Ltd., Ichalkaranji
having 6 branches and saved thousands of deposit holders of their hard earned money.
The bank has wish to establish and giving fully digitalized services. The Bank is “financially sound and
well managed Bank” within RBI definition. It is profit making since inception and has „A‟ Audit
classification.
The bank has bagged various precious awards from banking as well as IT Sector for its outstanding
achievements in the fields of governance, recovery, leadership and technological security.

3.1 Vision of the bank

Strive To Achieve Highest Level Ethical, Efficient And Effective Customer Service with Robust
Technological Support Through Highly Motivated and Committed Professional Staff With Social
Responsibility.

Mission of the bank

Providing Excellent Customer Service with Transparency, Trust and Timely Updated Technology
through Diversified Products for Consistent Growth of The Bank And Customers.

13
3.2 PRODUCT AND SERVICES
GP Parsik Bank is an Indian cooperative bank that predominantly serves the state of Maharashtra as of
my most recent information update in September 2021. Similar to commercial banks, cooperative
banks normally provide a wide range of financial goods and services, although they frequently
concentrate on serving certain areas or demographic groups. Here is a rough outline of the kinds of
goods and services that GP Parsik Bank, or a comparable cooperative bank, may provide:

1. Savings accounts:
- Regular Savings Account: An entry-level account for regular banking requirements.
- Special Savings Account: Tailored to particular consumer segments, delivering extra incentives or
higher interest rates.
- Senior Citizens Savings Account: Specifically created for seniors, with extra benefits like higher
interest rates and exclusive services.

2. Current Accounts
- Current Account: Designed for people and businesses with plenty of transactions.
- Premium Current Account: Provides higher value consumers with more features and services.

3. Fixed Deposits:
-Term deposits: fixed-term investments with competitive interest rates.
-Recurring Deposits: Monthly savings plan with a predetermined term.

4. Loans:
- Personal Loans: Unsecured loans for a range of individualized financial requirements.
- Business loans: A source of funding for companies and business owners.
- Education Loans: Loans used to pay for educational costs.
- Home Loans: Mortgage loans for buying or remodeling houses.
- Vehicle Loans: Loans for the purchase of automobiles, motorbikes, or other vehicles are known as
"vehicle loans."

5. Gold Loans: Loans secured by gold jewelry or other gold-related items.

6. Insurance Services
- Life Insurance: Providing a range of life insurance policies.
- Health Insurance: Offering both individual and family health insurance coverage.

14
7. Credit and debit cards:
- Debit Cards: Linked to checking or savings accounts for cashless transactions.
- Credit Cards: Providing credit facilities for payments and purchases.

8. Online Banking:
- Internet banking: Online access to accounts for a variety of transactions and services.
- Mobile banking: The use of mobile devices to access banking services.
- ATM Services: Use of ATMs for access to cash and account services.
- SMS Banking: Account information and transaction alerts sent by SMS.

9. Investment Services:
- Mutual Funds: Providing a variety of mutual fund investment alternatives.
- Demat Account: Facilitates holding and trading of securities.
- Fixed Income Products: Bonds, debentures, and government securities investments.

10. Government Schemes:

Facilitating government-sponsored financial inclusion and development initiatives.
11. NRI Services: NRIs can use specialized banking services.

3.3 Position in the industry

NBFCs play a significant role in the financial ecosystem by complementing the services offered by
traditional banks. They bridge gaps in financial inclusion, cater to niche markets, and provide
alternative funding sources. While banks are heavily regulated and provide a wide range of services,
NBFCs offer specialized financial products and services, often with more flexible terms and quicker
decision-making processes. This allows them to serve a diverse range of customers, including
individuals, small businesses, and underserved segments of the population.

1. Regulatory Environment: One of the most significant challenges for NBFCs is navigating the
complex regulatory environment. They need to comply with regulations set by central banks, financial
authorities, and other regulatory bodies. Striking a balance between regulatory compliance and business
growth can be a delicate task.

2. Access to Funding: Unlike traditional banks, NBFCs don't have access to retail deposits as a source
of funding. They rely on borrowing from banks, financial institutions, and capital markets. Tightening
credit markets or fluctuations in interest rates can impact their ability to secure funding.

15
3. Risk Management: NBFCs face various risks, including credit risk (default by borrowers), liquidity
risk (availability of funds), and interest rate risk (fluctuations in interest rates affecting their borrowing
and lending rates). Effective risk management is crucial to their stability.

4. Asset-Liability Mismatch: NBFCs often deal with asset-liability mismatches due to the varying
tenures of their loans and borrowings. Managing this mismatch is essential to avoid liquidity crises.

5. Credit Quality and NPAs: maintaining a healthy loan portfolio is a challenge for NBFCs. Accurate
assessment of borrower creditworthiness is crucial to prevent non-performing assets (NPAs) from
accumulating.

6. Competition from Banks and Fintechs: Traditional banks and emerging fintech companies can
pose stiff competition to NBFCs. Banks have the advantage of established customer bases and access to
low-cost funds, while fintechs often offer innovative and digital-first solutions.

7. Economic Volatility: Changes in economic conditions, interest rates, and business cycles can impact
the creditworthiness of borrowers and the overall financial health of NBFCs.

3.4 Stakeholders detail

Stakeholders in a cooperative bank, like GP Parsik Bank, might comprise a wide range of people,
organizations, or entities with an interest in the operations and performance of the bank. A list of
typical co-op bank stakeholders is shown below:

1. Members/Customers: These are the people or businesses that have accounts with the bank,
consume its services, and have a direct financial stake in it. Members frequently have voting privileges
and are welcome to take part in bank governance.

2. Board of Directors: The board of directors is in charge of managing the operations of the bank,
establishing policies, and making strategic choices. Typically, the bank's members elect the directors.

3. Management and personnel: Bank personnel, particularly senior management, are stakeholders
since they have a stake in the operation and success of the bank. Their capacity to make a living
depends frequently on the health of the bank.

4. Shareholders: Shareholders are people or organisations that possess stock in the cooperative bank,
if the bank has issued shares. The bank's financial performance is linked to their interests.

16
5. Creditors: Organizations that have provided the bank with loans or credit fall under this category.
For the purpose of ensuring repayment, they have a stake in the bank's financial health.

6. Community and local government: The bank frequently services a local community, and local
government bodies have an interest in the bank's stability and its contributions to the town's economic
growth.

8. Competitors: Since rival banks fight with one another for clients and market share, they are indirect
stakeholders in the same market or territory.

3.5 locational and operational details

I didn't have particular, recent knowledge on the location and specific operational information of GP
Parsik Bank as of my most recent knowledge update in September 2021. Cooperative banks, like GP
Parsik Bank, frequently have a number of branches and service areas, and the specifics of their
operations may alter over time. Therefore, in order to obtain the most precise and recent information
regarding their branch locations and operational specifics, it is imperative to visit the official website of
GP Parsik Bank or get in touch with them directly.
However, I can give you a rough idea of what the physical location and business operations of a
cooperative bank may entail:
Locational Details
1. Branch Network: Cooperative banks typically have a network of branches spread throughout many
cities, towns, and regions. These locations act as consumer contact points and offer a range of financial
services.
2. ATM Network: A lot of cooperative banks run an ATM network that lets users withdraw cash, check
account balances, and perform other convenient operations.
3. Service Areas: Service Areas Local communities or areas are frequently the focus of cooperative
banks. For instance, GP Parsik Bank primarily caters to the Indian state of Maharashtra.
4. Head Office: The bank's head office acts as the administrative and decision-making center and is
often situated in a central city or town.

Operational Details:
1. Financial Products and Services: Cooperative banks provide a selection of financial products and
services, such as savings accounts, loans, fixed deposits, and electronic banking services including
internet and mobile banking.

2. Customer Service: Cooperative banks offer a range of customer service options, such as phone,
email, and in-branch encounters, to help and support its clients.

17
3. Regulatory Compliance: Cooperative banks, like all banks, are subject to the rules and
specifications for regulatory compliance that are established by the national central banks or other
financial regulators of the many nations in which they operate.

4. Financial Transactions: Customers can carry out a range of financial transactions at branches,
ATMs, and via electronic banking channels. They consist of bill payments, fund transfers, withdrawals,
and deposits.

5. Loan Processing: Loan processing involves application review, document verification, approval,
and payout for cooperative banks that issue loans.

6. Risk management: In order to maintain financial stability and regulatory compliance, cooperative
banks must manage a variety of risks, including credit risk, operational risk, and liquidity risk.

7. Technological Adoption: To increase operational effectiveness and improve the client experience,
cooperative banks frequently make technological investments. Using mobile apps, internet banking
platforms and core banking systems are all examples of this.

8. Human Resources: To make sure that staff employees are prepared to service consumers and adhere
to regulations, it is crucial to invest in employee recruitment, training, and development.

3.6 Challenges faced by the cooperative bank

In September 2021, when I last updated my understanding, GP Parsik Bank was operating. Like any
financial organization, it might encounter a number of difficulties. Market conditions, regulatory
adjustments, technical developments, and competitive pressures are just a few examples of the many
variables that can have an impact on these difficulties. GP Parsik Bank and other cooperative banks in
India may encounter the following difficulties:

1. Complying with regulations: The regulatory landscape facing banks in India is complicated. It is a
huge effort to maintain compliance with ever-evolving regulations and to make sure that all operations
follow legal requirements.

2. Management of Credit Risk: Managing Credit Risk Effectively is one of the main difficulties
facing banks. Assessing a borrower's creditworthiness, keeping an eye on loan accounts, and reducing
non-performing assets (NPAs) are all part of this process.

3. Competition: With a large number of banks and financial organizations striving for market share,
India's banking sector is very competitive. It can be hard to compete successfully while keeping clients.

18
4. Technological Adaptation: It is crucial but difficult to keep up with how quickly technology is
developing, to ensure cyber security, and to provide contemporary digital banking services.

5. Customer Expectations: Providing the comfort, individualized attention, and high-quality service
that customers demand calls for ongoing innovation and financial investment in customer-facing
technologies.

6. Cyber security: Protecting customer data, financial assets, and data breaches are top priorities for all
banks.

7. Interest Rate Fluctuations: Managing interest rate risk can have an impact on a bank's profitability,
especially in a situation when interest rates are fluctuating.

8. Operational Efficiency: For banks, keeping up efficient everyday operations while keeping costs in
check is a constant challenge.

9. Talent management: In a competitive job market, it can be challenging to locate and retain skilled
employees, especially for occupations that need specific knowledge.

10. Economic Factors: Volatility in the economy, inflation, and fiscal policies can all have an effect on
a bank's capacity to remain solvent and profitable.

11. Asset Quality and Performance Metrics: Monitoring and enhancing critical performance
indicators, such as Return on Assets (ROA), Return on Equity (ROE), Net Interest Margin (NIM), and
Cost-to-Income Ratio (CIR), are crucial for ensuring financial stability.

12. Protection of Customer Data: Ensuring data privacy and safeguarding customer information from
breaches are major priorities.

3.7 SWOT analysis of the Bank

Using a SWOT analysis, a firm or organization can assess its Strengths, Weaknesses, Opportunities,
and Threats. For GP Parsik Bank, the following is a thorough SWOT analysis:

19
Strengths:

1. Strong Regional Presence: The Thane region, where the state of Maharashtra is located, is where
the GP Parsik Bank is most prevalent. The ability to comprehend the local market and consumer needs
in-depth is made possible by this specific emphasis.

2. Customer-Centric Approach: The bank's focus on client happiness and service has helped forge
enduring ties with clients and foster their loyalty over time.

3. Diverse Product Portfolio: GP Parsik Bank serves a wide customer base by providing a variety of
financial goods and services, such as savings accounts, loans, and insurance.

4. Community Engagement: The cooperative structure of the bank encourages a sense of financial
inclusion and community engagement, which can be a distinct selling feature.

5. Stable Deposit Base: A stable and expanding deposit base gives the bank a dependable source of
funds for its operations and lending activities.

Weaknesses:

1. Limited Geographic Presence: A strong presence in Maharashtra is a benefit, but it can also be a
hindrance if the bank wants to grow outside of this area.

2. Technology Adoption: As the banking sector relies more and more on technology and digital
services, GP Parsik Bank can find it difficult to stay up with new developments.

3. Competition: Traditional and digital banks in India compete for market share in a highly
competitive industry. Margin and customer acquisition may be under strain as a result.

4. Regulatory Compliance: Adhering to constantly changing regulatory regulations in the financial

sector can be time- and resource-consuming.

Opportunities:

1. Digital Transformation: Adopting digital banking technologies and improving online and mobile
banking services will help the bank attract more clients and boost operational effectiveness.

20
2. Geographic Expansion: Looking at options to grow into nearby states or regions could offer up
new markets and diversify the bank's holdings.

3. Financial Inclusion: By taking part in government-sponsored programs for financial inclusion, the
bank can reach underrepresented regions and promote inclusive growth.

4. Product Innovation: Continually developing new products and broadening the product line can
assist draw in and keep clients searching for cutting-edge, individualized financial solutions.

Threats:

1. Regulatory Changes: Consistent modifications to banking laws and compliance requirements can
increase risk and raise costs.

2. Cybersecurity Risks: As a result of its growing reliance on digital services, the bank is at risk of
fraud and data breaches that fall under the category of cyber security threats.

3. Economic Volatility: Economic downturns or financial crises may have an effect on borrowers'
creditworthiness and the asset quality of the bank.

4. Fluctuations in Interest Rates: The lending and investment activities of the bank may be impacted
by changes in interest rates, which may have an effect on profitability.

5. Competition: Competition Market share and customer retention may be at risk from fierce
competition from conventional banks, emerging fintech companies, and other cooperative banks.

6. Consumer Confidence: It's critical for the banking industry to uphold and increase client trust.
Customer relations and the bank's brand may suffer from unfavorable impressions or reputational
problems.

It's crucial to remember that the specific elements of this SWOT analysis could alter over time owing to
both internal and external dynamics. For GP Parsik Bank to stay competitive and sustainable, it is
important that it continually reviews its strategic position and makes adjustments in response to new
trends and difficulties in the banking sector.

21
 4. On the job Training
Location: Thane
Branches: 18
Employees: 7
Hours of working: 8hrs (10:00 pm to 7:00 am)

GP Parsik bank thane has given training to me which has provided additional skills, knowledge and
qualifications when I started Training they gave me information about how to print passbook. It was
designed to help me settle into the bank. It includes meeting other employees, tour of bank computer
system and procedures which are related to bank.
Started from demonstration, they gave me particular task like cheque collection, kyc
from filling etc. they set small targets, and also they tech me the process of the loan and helped me to
reach it. They taught me new skills and gave targets to use that skill. Computer based training which
involved banking software to learn new skills.

4.1. Work responsibility assigned

1. Passbook printing
2. Cheque collection, stamping duty.
3. Help customer in filling and also helped in kyc process.

4.2. Technical & managerial skills gained

1. Problem solving
2. Communication skills
3. Time management
4. Positive attitude toward customer
5. Customer service
6. Proficient with bank software

4.3. Key results areas

• Prepare account entries including general ledger account entries.
• Assist the bank employees in various banking operations such as account opening, cash handling, and
document verification.
• Shadow senior bank officials to gain insights into the overall functioning of the bank.
• Conduct market research to gather data on customer preferences and banking trends.
• Support the marketing team in developing and implementing promotional strategies.

22
• Collaborate with the customer service team to address customer queries and provide satisfactory
solutions.
• Participate in training sessions to enhance knowledge of banking products and services.
• Learn and adhere to all banking regulations and policies to ensure compliance.

4.4 TASK ACCOMPLISHED

The successful completion of tasks, activities, or objectives assigned to employees or teams is referred
to as task accomplishment at GP Parsik Bank, as it is in every other business. Depending on the duties
and responsibilities of particular individuals and departments, the specific tasks completed within the
bank can differ greatly. Here are a few typical instances of jobs that can be completed at GP Parsik
Bank:
1. Client Transactions:
- Completing common client transactions like deposits, withdrawals, fund transfers, and currency
exchanges.
- Ensuring accuracy in transaction processing and keeping transaction records.
2. Loan Processing:
- Completing loan processing responsibilities, such as checking loan paperwork, running credit checks,
and disbursing approved loans.
- Ensuring adherence to bank and lending policies.
3. Customer Service:
- Providing information on banking goods and services, answering customer questions, and attending to
customer problems are all examples of how customer service activities are completed.
- Resolving client concerns and ensuring high levels of customer satisfaction.
4. Regulatory Compliance:
- Completing regulatory compliance-related responsibilities, such as Know Your Customer (KYC)
checks, anti-money laundering (AML) investigations, and reporting suspicious transactions.
- Ensuring compliance with all relevant banking rules.
5. Data Entry and Record-Keeping:
- Completing data entry and record-keeping responsibilities to maintain correct customer and
transaction records.
- Ensuring the confidentiality and integrity of data.
6. Training and Development:
-Complete training and development assignments by taking part in workshops, training sessions, and
skill development programs.
- Developing new abilities and knowledge to improve work output.

23
 5. RESEARCH ON THE CHALLENGES FACED BY THE COMPANY

5.1. Problem Identification

Non-Banking Financial Companies (NBFCs) face a number of difficulties when conducting business.
First off, because NBFCs mainly rely on borrowing for finance, liquidity problems can be a serious
danger, particularly during economic downturns. Second, managing asset quality and dealing with non-
performing assets (NPAs) can be challenging and call for efficient loan recovery and provisioning
measures. Thirdly, maintaining the necessary capital adequacy ratio and complying with the complex
regulatory framework are also continuous concerns. Additionally, comprehensive evaluation and
mitigation activities are required for risk management, which includes credit, market, and operational
risks. Financial instability can result from interest rate sensitivity and an overreliance on short-term
wholesale funding. Additionally, a lack of digital transformation and poor credit risk assessment in
unsecured lending may have an impact on competitiveness. These problems are further complicated by
the requirement to protect consumer data and build strong governance and risk cultures. Additionally
persistent issues include market volatility, capital sufficiency, and ESG compliance. In order to address
these issues, a multidimensional strategy that incorporates regulatory observance, prudent risk
management, strategic planning, and adaptability to changing market situations is necessary. NBFCs
that successfully manage these difficulties will have a better chance of success in the financial industry.
 High cost of funds
 Slow industrial growth
 Small balance sheet resulting in low asset profile
 Non-performing assets
 Competition
 Other NBFCs
 Banks

5.2. Literature Review

1. (Jain & Gupta, 2023)Non-banking financial organisations (NBFCs) are crucial in the process of
transforming limited financial resources into capital formation. By addressing the financial demands of
the organized and unorganized sectors, they complement the work of conventional banks. Where banks
don't extend very far, they cover the credit gaps. An overview of NBFCs in India is given in the paper.
The article explains how NBFCs might broaden their reach into the retail and micro, small, and
medium enterprise sectors. Because they offer specialized products, NBFCs have an advantage over
banks. The function of digitalization in NBFCs is discussed in the study. In addition, the report assesses
the difficulties experienced by NBFCs as a result of the COVID-19 epidemic and the crisis in
Infrastructure Leasing and Financing Services. Current issues include declining asset quality, declining
profitability, and capital evasion as a result of sluggish industrial growth and higher provisioning. The
corrective steps taken by NBFCs and the Reserve Bank of India to reduce the risks brought on by these
difficulties are also mentioned. The research ends with a suggestion that the entire framework of
NBFCs be reevaluated so that improving corporate governance and developing resilience are given
priority.
24
2. (Rajeswari Sengupta, 2022) A credit crunch in the Indian economy occurred in late 2018 as a result
of a significant non-banking financial firm (NBFC) in India defaulting. The issue calls into question the
NBFCs' business strategy and their role alongside banks in the economy. In this essay, we examine the
historical development of the Indian NBFC industry, its significance in credit provision, and potential
causes of the 2018 financial crisis. We make an effort to comprehend the benefits and drawbacks of the
NBFC business model, as well as the factors that led to their recent rapid growth and difficulties. We
also briefly touch on how the Covid-19 epidemic might affect the NBFC industry.

3. (Vijaya Kittu Manda, 2019)Non-Banking Finance Company (NBFC) is a crucial industry for the
Indian economy, managing one-fifth of the nation's credit. Since the large infrastructure financier
IL&FS went bankrupt in September 2018, the Indian NBFC industry has been plagued by a number of
issues. A solvency problem is developing over what initially appeared to be a liquidity crisis. Major
players supported by well-known promoters are closing their doors. The banking and finance sector as
a whole is significantly affected by downgrades and defaults, yet there is enough instability to cause
panic in some parts of the sector. The asset management sector and the housing finance companies
(HFCs) are determined to be particularly vulnerable and suffered greatly from the crisis. The asset-
liability mismatch is a major problem that contributed to the industry's liquidity problems. Instead of
offering a unique liquidity window, regulators seek to adjust macroeconomic conditions to reduce the
issue. The crisis made clear the necessity for much closer communication and cooperation between
regulators like the RBI, IRDA, NHB, and SEBI in order to prevent future failures in which bubbles like
this might eventually turn into a systemic risk. The NBFC, regulators, and government can all benefit
from this paper's findings by being more prepared.

4. (Harikrishnan & Dr.George, 2008)Non-Banking Financial Companies rapidly expanded and

accessed the public deposit in the absence of entrance barriers or regulatory restrictions. From 41.9
crores in 1971 to 53116.0 crores in 1997, NBFCs' deposits increased. The combination of an increase in
the number of NBFCs and an increase in the volume of deposits led to this expansion. These asset
financing NBFCs invested the deposits astounded as stated above in a variety of assets, including those
in motor vehicles. These NBFCs and their agents used a variety of strategies to recover the outstanding
receivable from such assets. The protection of depositors' interests was a priority for the federal
government and RBI, and several committees were formed to develop a thorough set of rules for how
these NBFCs should operate.

5. (Chakraborty, 2020)The 2019–20 Union budget attempts to convey that future economic benefits
from financial system reform are anticipated to be discernible. Following unprecedented recoveries
over the previous four years as a result of the Insolvency and Bankruptcy Code and other legal
measures, non-performing assets in commercial banks significantly decreased last year. The provision
coverage ratio is currently at its highest point in seven years, and domestic credit growth has increased
to 13.8%. The government's unification of public sector banks went off without a hitch. However, a
liquidity crunch and the growing NPAs facing the non-banking financing company (NBFC) appear to
be mirroring the decline in bank NPAs.

6. (Prudhvi Sankar, 2020)Crowdfunding in the form of P2P lending is controlled by the RBI under the
designation of NBFC-P2P. The RBI's Master Directions of 2017 brought P2P lending under its
purview, even though it had been around in India from the beginning of this decade (2011-2020). The
regulations are unquestionably encouraging for P2P lending growth prospects because they foster
confidence and trust among participants. P2P lending's potential has, however, also been constrained by
25
restrictions. The P2P lending mechanism in India is generally studied in this exploratory work. As of
April 30, 2019, P2P enterprises registered with the RBI were also studied with regard to their
operational and risk management procedures.

7. (Anup Kumar Bhandari, 2022) The non-banking financial institutions play a significant role in credit
intermediation in India by actively participating in credit lending to the demographics that official
banking channels typically ignore.
Micro, small, and medium-sized businesses, the agricultural industry, and other unbanked sectors are
some of these. As a result, they contribute significantly to both overall financial inclusion and the
supply of financial services to the last mile. The financial stability of a sample of 15 sizable NBFCs
and the legislation governing capital requirements for the industry are assessed against the backdrop of
the recent liquidity crisis.

8. (Nanda Amitabh1, 2012)Non-banking financial organisations (NBFOs), which are sometimes seen
as the banking system's auxiliary institutions, are now crucial to providing financial aid in a variety of
financial sector disciplines. The fierce competition, possibilities, and risks that they face have led
NBFCs to place greater emphasis on relationship marketing than transactional marketing. In an effort
to suit their clients' needs, NBFCs are focusing on a variety of financial products in an effort to address
the challenges of the dynamic, chaotic external environment. This essay's goal is to investigate CRM
practices in NBFCs, specifically CitiFinancial. Along with client profitability and lifetime value, this
study also provides those details. A standardized questionnaire was used to conduct the study among
200 CitiFinancial clients.

9. (Sundar R, 2021)Loan defaults and delinquencies, particularly for NBFCs in rural areas, are one of
the biggest problems the financial sector is currently facing. The same problem is also a problem for
the study done using a sample NBFC Mahindra & Mahindra Financial Services. The purpose of this
study's researcher was to learn more about the pre-loan assessment techniques employed by NBFCs
and how they affected later loan default rates. These techniques primarily assist the credit manager in
determining whether an applicant is qualified for loan disbursement; however, it is still unknown
whether they have any effect on reducing loan defaults in later stages of loans. There isn't a published
version of the data needed for this analysis data.

10. (SARKAR & BISWAL, 2020)Non-bank finance companies operate in the loan and advance market
as well as in other areas of the economy. NBFC is crucial in offering accessible financial services. The
economy is indirectly boosted by NBFC. It focuses on boosting living standards through asset
mobilization, loan syndication, leasing, hire-purchase, the insurance industry, employment creation,
and financial market expansion. NBFC is significantly more significant for a developing economy like
India. The current scenario demonstrates how the financial crisis affecting companies like DHFL and
IL&FS has a bigger impact on the Indian economy. A nation's economy will only move in the correct
direction if there are NBFCs there.

26
5.3. Challenge faced by company

1. Challenge of funding due to the absence of refinancing options:

In India, banks have a variety of refinancing possibilities. The regulator of housing financing
companies offers refinancing options and refinances to companies that provide housing financing as
well.

2. Challenges faced in obtaining NBFC license:

Obtaining an NBFC license is a difficult process. Complicated paperwork requirements and Reserve
Bank of India approval are required for the process. The procedure that must be followed by NBFCs in
order to obtain registration is regulated by the Reserve Bank.

3. Complicated NBFC compliances in India:

An NBFC must adhere to a variety of compliances when it is incorporated. NBFC compliance varies
depending on the type of NBFC. Therefore, the difficulty arises when a person is managing a business
that offers loans and advances, etc. It gets harder and harder to keep all elements together. Additionally,
it can be difficult to remember when and how to file the recommended returns.

4. Lack of flexibility in NPA loan classification:

Non-Performing Assets (NPA) are important for major corporations, but firms with erratic cash flow
suffer as a result. Scheduling flexibility and classification under NPA are crucial. The classification of
NPAs ought to be based on the financed assets.

27
5. Absence of a statutory recovery tool:
Another issue that has plagued NBFCs for a while is the absence of a statutory recovery tool.

6. Several representative bodies:

There are several representative bodies in place right now. It is important to remember that the NBFC
industry is still developing. So creating a single representative body might be the best idea. The apex
organization that supports the balanced expansion of NBFCs must also effectively represent each
segment.

7. Lack of capacity building:

It is crucial that NBFCs establish a favourable environment for both collective and individual capacity
growth. The gap must be filled as soon as possible because it is missing in the current NBFCs.

8. Disparate tax treatment:

There is a significant disparity between the tax structures for banks and NBFCs, including tax
deductions at the source and double taxation on lease and hire-purchase transactions.

9. Lack of defaulter database:

Due to the lack of essential information, NBFCs are vulnerable to credit risk. Furthermore, necessary
legislation changes must be made in order for these businesses to use the utility payments database in
the credit evaluation procedure.

10. Stripping of priority sector status to bank lending to NBFCs:

One of the biggest problems NBFCs face is the stripping of the priority sector status from bank lending
to them. Bank funding to NBFCs should again have priority sector status. As a result, the collaboration
model between banks and NBFCs ensures that credit flow to underserved segments of society. It will
aid NBFCs in building wealth and assets in rural areas of the nation. A certain percentage of all bank
loans can only be prioritized by the Reserve Bank of India1 through NBFCs.

11. Minimum mandatory credit rating for NBFC:

NBFCs must now obtain investment-grade credit in order to meet the minimum required credit rating.
They'll be qualified to receive deposits as a result. The NBFC is not permitted to accept public deposits
if its rating is lowered below the minimal investment grade rating. Additionally, it must inform the RBI
of its position.

28
5.4. Different between on NBFCs vs. Cooperative bank

Here is a comparison between cooperative banks and non-banking financial companies (NBFCs) that
shows how they different from one another:

1. Ownership and Organization:

- NBFCs: NBFCs are typically privately owned, for-profit businesses.
- Cooperative Banks: Owned and managed by their members, who frequently consist of individuals
or small enterprises in a particular neighborhoods or region, and operate on a cooperative basis.

2. Services Offered:
- NBFCs: Mainly focus on generating profits while providing financial services including lending,
investing, and wealth management.
- Cooperative Banks: Focus on community and financial inclusion while offering a wider range of
services, including savings and current accounts, loans, agricultural financing, and social development
programmers.

3. Regulatory Oversight:
- NBFCs: Depending on their particular operations, they may be subject to regulation by the Reserve
Bank of India (RBI) and other pertinent financial sector regulators.
- Cooperative Banks: For urban and rural cooperatives, the Reserve Bank of India (RBI) and the
National Bank for Agriculture and Rural Development (NABARD), respectively, regulate cooperative
banks.

4. Deposit Insurance:
- NBFCs: Do not offer deposit insurance to their customers; deposits with NBFCs are not covered by
deposit insurance schemes.
- Cooperative Banks: May offer deposit insurance up to a predetermined limit, often through the
Deposit Insurance and Credit Guarantee Corporation (DICGC), offering some level of security for
depositors.

5. Governance and decision-making:

- NBFCs: Usually operated for financial gain, they are governed by a board of directors or a group of
shareholders.
- Cooperative Banks: These financial institutions are run by their customers, who frequently
participate in the decision-making process and encourage a focus on the local community.

29
6. Financial Inclusion:
- NBFCs: Contribute to financial inclusion through lending and other services, but they may not have
Cooperative Banks' geographic scope or community focus
- Cooperative Banks: By providing local communities with services that are tailored to their unique
needs, cooperative banks significantly contribute to financial inclusion, particularly in rural areas.

7. Risk Profile:
- NBFCs: Depending on their activities, such as asset lending, housing financing, or microfinance,
their risk profiles might vary greatly.
- Cooperative Bank: Due to their emphasis on providing for the needs of their local communities and
members, cooperative banks tend to have a more conventional and stable risk profile.

8. Capital Requirements:
- Both NBFCs and Cooperative Banks must meet particular capital adequacy standards established by
their respective regulators, albeit the standards may change depending on the operations and risk
profiles of the two types of institutions.

In conclusion, NBFCs and cooperative banks have different ownership structures, service offerings,
regulatory oversight, deposit insurance, governance, financial inclusion initiatives, risk profiles, and
capital needs. These differences reflect their particular functions and roles within the Indian financial
system.

30
5.5 Segment share of NBFCs and Bank in retail finance
The rural sector, SMEs, and microfinance are the NBFCs' main areas of focus. Nearly 76% of India's
120 billion rupee microfinance market is made up of NBFCs. The rural network of NBFCs is extensive.
Through the introduction of financial sector diversification, streamlined sanction processes, flexibility,
and timeliness in addressing loan needs, the sector has been acknowledged as an important component
of the banking system.

31
 6. RESULTS AND RECOMMENDATION

6.1 Findings
NBFC sector through its variety of institutions play a crucial role in meeting the gap by providing
credit flow to unbanked segments. Since 2013-14 adverse macro-financial environment had been
observed in the NBFCs sector, with a consolidated balance sheet expansion of over 17 per cent in the
first half of 2018-19, led by asset finance companies and investment companies. Lending activities of
NBFCs were significantly higher compared to its peers Commercial Banks during the recent years
since 2014-2018.
Comparison of Cooperative Banks & NBFCs

A few large NBFCs-MFIs have converted into small finance banks (SFBs). NBFCs maintained their
profitability in the first half of 2018-19, and recent concerns about asset-liability mismatches. Among
the flow of resources from domestic non-bank sources, the proportion of net credit by Housing Finance
Companies (HFCs) in the total flow of credit (from domestic sources) remarkably increased from 6.2
per cent in 2013-14 to 11.7 per cent in 2017-18. During the years 2018 -19~ &~ 2019- 20, a spurt was
observed in the lending activities of NBFCs /SFBs, as demand for loans from MSMEs /MFIs
increased~ and commercial banks could not meet the demand due to their cautious approach in lending
and risk aversion practices.

32
 6.3 Suggestions
The Non-Banking Financial Companies (NBFCs) and Cooperative Banks, both essential elements of
India's financial industry, exhibit substantial differences in their organization, offerings, and regulatory
oversight. NBFCs, which are mainly privately held businesses, specialize in financial services such as
lending, investing, and wealth management. Depending on their specific activities, the Reserve Bank of
India (RBI) and other pertinent financial sector authorities may have the power to regulate them. The
members of cooperative banks, which are frequently people or small enterprises from a particular
neighborhoods or region, own and run them as cooperative societies. They play a crucial role in
attempts to increase financial inclusion, particularly in rural areas, by offering a larger range of services
such loans, current accounts, loans for agricultural use, and social development programmers.

The RBI and the National Bank for Agriculture and Rural Development (NABARD), respectively,
provide regulatory oversight for cooperative banks in urban and rural areas. Cooperative Banks, as
opposed to NBFCs, may also offer deposit protection up to a specific limit. In addition, these
institutions' risk profiles differ, with cooperative banks frequently presenting a more consistent risk
profile as a result of their community-centric approach, whereas NBFCs' risk exposure might vary
dramatically depending on their specific activities, such as asset lending or microfinance. In the end,
the decision between cooperative banks and NBFCs comes down to a person's specific financial needs,
goals, and regulatory environment.

33
 6.4 Conclusions

Non-banking Financial Companies (NBFCs) have taken on new meaning in India and have
experienced rapid expansion in recent years. NBFCs are corporations that are not banks but carry out
lending activities on a level with banks. They may also accept public deposits, however these are term
deposits rather than call deposits.

An examination of NBFCs' past financial performance indicates that they are developing as a critical
source of lending for micro and small businesses, as well as infrastructure. The rise of financial
technology platforms portends even more scope and prospects for the NBFC sector. The numerous
participants in the current market of public-to-public (P2P) / business-to-business (B2B) / business-to-
consumers (B2C) lending offer unique prospects for NBFCs to grow further and are available on the
market as of now accessible out as a progressively significant feature of India's economic aspect.

34
 6.4 REFERENCE

Books

 Non-Banking Financial Companies (NBFCs) in India: Functioning & Reforms by Jafor Ali Akhan
 Statutory Guide for NBFCs – Authentic & Updated Compendium of RBI's Directions & Guidelines
governing by Taxmann
 Project Financing Banks v/s NBFC by Dashrathbhai B. Jaganiya

WEBSITES

 https://www.moneycontrol.com
 https://www.wikipedia.org
 https://www.careeraddict.com
 https://www.researchgate.net/

35
 Summer Internship Progress Report
Name of the Student:
Name of the Organization:
(Placed for summer internship)
Area of Specialization:
Reporting Head/ Mentor in the Organization:
Name of the Internal Guide (Institute):
Title of the project:
Duration of the project:
Progress Report:
Sr. No Date Particulars/ Progress Guide’s Student’s
Signature Signature

Authorized Signatory Student’s Signature

36
ORIGINALITY REPORT

37
38