Nonbank financial companies (NBFCs) offer banking services like loans and credit but do not have a banking license. They are restricted from taking demand deposits from the public. This limits their oversight from financial regulators. The document then discusses key metrics for evaluating NBFC stocks like revenue, assets under management, interest spread, non-performing assets, and lists some top NBFC stocks in India. It encourages enrolling in a course to learn how to analyze NBFCs before investing.