Banking vs Non Banking Company

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  • Services: Banking companies provide safety deposit lockers, issues Bankers Cheques and Bank Drafts, honers cheques and bills of exchanges. These services are not provided by non-banking companies.
  • Duties: A Banking company has duties in the form of Debtor, Creditor, Bailee, Pledgee, Mortgagee, Trustee, Agent etc. Not all of these services are rendered by non-banking company.

Note

  • Post office is not a bank because they do not offer cheques.