This is one of the main features that distinguish commercial banks from non-bank financial institutions (NBFIs).

Commercial banks are authorized by the government to accept deposits from the public and offer various banking services, such as withdrawals, transfers, and loans.

NBFIs, on the other hand, do not have a banking license and do not accept deposits from the public.

They provide financial services such as insurance, investment, and lending, but they rely on alternative sources of funding, such as capital markets, private funding, and fee-based services.