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Abstract
The financial services sector has undergone structural changes in recent years with growing numbers of cross border mergers and acquisitions which has increased competition among different types of financial institutions. These structural trends are evident from foreign investment flows in financial services, with the developed countries being the main exporters of such services with the result the financial services sector has become an important part of overall globalized trading. It is clear from the analysis that there are ups and downs in the number of NBFC throughout 1999 to 2012 The non-significant growth rate also affirmed the same. This revealed that with the passage of 12 years, NBFCs could not get strengthened numerical. It can also be predicted that the number of NBFCs registered with RBI would increase in future.