Non-Banking Financial Institutions (NBFIs) Sector plays a pivotal role in the Indian economic growth. The NBFIs act as an intermediary between borrowers and final lenders, providing safety and liquidity. This process subsequently ensures earnings on the investments and savings involved. NBFIs does not have a full banking license and cannot accept deposits from the public. However, NBFIs do facilitate alternative financial services, such as investment (both collective and individual), risk pooling, financial consulting, brokering, money transmission, and check cashing. NBFIs are a source of consumer credit (along with licensed banks). NBFIs run in parallel to the traditional deposit taking commercial banks. NBFIs include, but are not limited to investment banks, development financial institutions (DFIs), insurance companies, specialized credit institutions, mod-arabas, mutual funds, leasing companies, currency exchanges, some microloan organizations, pawn shops, and venture capital companies. These NBFIs provide services that are not necessarily suited to banks, serve as competition to banks, and specialize in sectors or groups. This paper aims to understand the NBFIs and its importance for overall development of society and nation’s economy. This study is in focus to analyze the financial performance of NBFIs in India during 2015-2016.