Finance is the art of Managing money. The two major areas of finance are: Financial Management and financial Derives. Financial management is concerned with duties of the financial managers in the business who perform such varied tasks as budgeting, financial forecasting cash management, credit administration and investment analysis and funds management etc., Financial services is concerned with the design and delivery of advice and financial products to individuals and business with the areas of banking and related institutions personal financial planning, mutual funds, factoring, leasing and insurance etc., Non fund based and advisory are provided by the non-banking financial companies. A modest attempt is made in this paper to study the growth and penetration of non banking financial companies in Indian financial markets.