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Difference between merchant banks and NBFCs

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(Querist)
07 August 2008 What is the relation between Merchant banks and Non-Banking Financial Comapnies?
Are they one and the same?
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GIRISH KUMAR MITTAL

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GIRISH KUMAR MITTAL (Expert)
07 August 2008 Merchant Banks generally involved in the issue of shares undertaking various responsibilities , while NBFC's are just like bankes who provide finance to the undertakings for their requirements.But NBFC's faces some restrictions vis-a-vis banks in terms of deposit etc.
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