5 differences between banking and non banking institution?

Banking institutions primarily accept deposits and provide loans, facilitating monetary transactions and offering services like savings accounts and credit. In contrast, non-banking institutions do not have a full banking license and cannot accept deposits; instead, they may focus on financial services like insurance, investment, or asset management. Banks are regulated by central authorities, while non-banking institutions often operate under different regulatory frameworks. Additionally, banks typically offer a wider range of financial products, while non-banking institutions may specialize in specific areas, such as wealth management or financing.