Describe four ways in which a non-bank financial institutions differ from the commercial banks.
Answer Text: -They do not provide current account while commercial banks provide.-They provide long term loans while commercial banks provide short term loan/overdraft/ discounting bills of exchange-They are not regulated by the central bank while commercial banks do.-Non. Bank financial institutions provide loans for specific purpose while commercial banks provide general finance/ loans for a variety of purposes.-Commercial banks create credit while NBFI do not .-Commercial banks exchanges foreign currency while NBFI do not
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