Financial services companies play a major role in the economic growth of a country. The financial structure of a country is directly dependant on the relationship between regulatory bodies and the intermediary institutions.
Non-Banking Financial Companies or NBFCs are service providers in banking facilities and financial services but completely set apart from the legal understanding of a bank. Finance companies in India do not come under the purview of the banking regulations which are set by Reserve Bank of India.
The Finance Industry and the Top 10 Financial Services Companies in India
The financial sector provides services such as insurance, housing financing, mutual funds, credit reporting, debt collection, stockbroking, portfolio management, and investment advisory. Revenue is primarily generated from mortgages and loans, which capitalizes on the interest rate drops. Drop in the rates allows more capital investment, benefitting the financial sector and thus improving the economy of the country. Among the top finance companies in India, Bajaj Finserv, LIC Finance, and Muthoot Finance are a few trusted names.
List of Top 10 Financial ServicesCompanies in India
Below is a list of 10 best finance companies in India along with brief details about them.
1.Bajaj Finance Limited
A part of Bajaj holdings and investments, this Pune based financial company was established in 2007. It is one of the top 10 finance companies in India offering investment advisory and financial planning services. Founded by Rahul Bajaj, the company has its headquarters in Pune, Maharashtra.
The main focus of this company lies in lending and similar ventures. Lendings for different segments including consumer, SMEs, commercial, and rural areas are among the core financial offerings of this company. Other services offered are fixed deposits for both retail and wholesale sectors, general and life insurances, and mutual fund distribution.
Market cap:279,788.43 Cr INR
Address:4th Floor, Bajaj Finserv Corporate Office, Off Pune-Ahmednagar Road, Viman Nagar, Pune – 411014, Maharashtra, India.
Contact information:Ph. +91 8698010101
2. PNB Housing Finance Limited
Established in 1988 under the Companies Act, 1956, PNB Housing Finance Limited is a registered housing finance company with National Housing Bank (NHB). Compared to other NBFCs, it offers the lowest premiums.
Headquartered in New Delhi and Sanjaya Gupta as the current Managing Director, PNBHFLoffers home loans of different types. Loans for buying home or plot, home renovation, home construction, home extension, loan against property are the key products offered by this finance company.
Market cap:7,417.88 Cr INR
Address:9th Floor, Antriksh Bhavan, 22 Kasturba Gandhi Marg, Near Connaught Place, New Delhi – 110001, India.
Contact information:1800 120 8800
3. LIC Housing Finance Ltd.
It is one of the largest housing finance companies in India, established in 1989 and offers financial solutions to individuals for housing-related investments. LIC Housing Finance Ltd. is owned by Life Insurance Corporation of India with its headquarters in Mumbai.
A range of products including home loans, mortgage loans, home improvement, personal and commercial construction loans are provided by this finance company.
Market cap:22,343.95 Cr INR
Address: Maker Tower-F, 13th Floor, Cuffe Parade, Mumbai – 400005, Maharashtra, India.
4. Aditya Birla Finance Ltd.
Ranking among the best NBFCs in India, Aditya Birla Finance Ltd. a part of the Aditya Birla Group, offers solutions ranging from commercial mortgage to corporate finance and from structured finance to capital markets. It was founded in the year 1991 with its headquarters in Mumbai.
ABFL offers a diverse range of financial solutions that include wealth management, lending, and financing.
Address: One Indiabulls Centre, Tower 1, 18th Floor, Jupiter Mills Compound, Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai – 400013, Maharashtra, India.
Contact information:+91 22 4356 700
5. L&T Finance Limited
Incorporated in 1991 by the Larsen and Turbo group, it is one of the major financial services companies in India. From Automobiles to Agricultural Instruments to secured loans, they serve all areas and provide financial solutions for the same.
L&T Finance Holdings, L&T Infotech, L&T Infrastructure Finance Company, and L&T Technology Services are among some of the subsidiaries of this company.
Market cap:26,353.54 Cr INR
Address:7th Floor, Technopolis, A- Wing, Plot No 4, Block – BP, Sector – V, Salt Lake, Kolkata – 700091, West Bengal, India.
6. SBI Capital Markets Limited
A subsidiary of the State Bank of India, it was established in 1986, making it one of the oldest companies in the Indian financial sector. With its headquarters in Mumbai, the current CEO and Managing Director of SBICAPS is Arun Mehta.
SBICAPS provides an array of financial services including Investment Banking, Project Finance, IPO, Merchant Banking, M&A and Debt Restructuring.
Address:202, Maker Tower ‘E’, Cuffe Parade, Mumbai – 400005, Maharashtra, India.
Contact information:+91 22 2217 8300
7. Tata Capital Financial Services Ltd.
Founded as a subsidiary of the Tata Sons Ltd. in 2007 by Praveen Kadle, it is one of the top 10 financial services companies in India. Its services include wealth management, home loans, infrastructure management, commercial finance, and consumer loans.
Address:11th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013, Maharashtra, India.
Contact information:1860 267 6060
8. HDB Financial Services Limited
Under HDFC Bank, HDB Finance Services provides loans such as business loans, doctor loans, personal loans, auto loans, gold loans, tractor loans, and others. It was established in 2007, to meet the financial needs of a fast-growing India.
Address: HDB Financial Services Limited, Ground Floor, Zenith House, Keshavrao Khadye Marg, Mahalaxmi, Mumbai – 400034, Maharashtra, India.
Contact information:Ph. +91 44 4298 4541
9. Muthoot Finance Ltd.
Muthoot Finance was founded by M George Muthoot and was incorporated as a private limited company in 1997 in Kochi, Kerala. It is the largest gold financing company in the world. Its services also include foreign exchange services, wealth management services, money transfers, tourism and travel services.
This company is most well-known for offering business and personal loans with gold jewelry as security to meet short-term capital requirements for a decent tenure. The principal focus of this company is towards individuals who are not eligible to receive loans from formal institutions.
Market cap:30,391.42 Cr INR
Address: Muthoot Chambers, Opp. Sarita Theater Complex, Banerji Road, Kochi – 682018, Kerala, India.
10. Shriram Transport Finance Company Limited
Registered with the Reserve bank of India, this transport finance company was established in 1979 to help the dwindling financial condition of small truck owners in India. Now, it provides a wide range of transport services which includes heavy-duty trucks, passenger vehicles, mini trucks, construction vehicles as well as farm vehicles.
Market cap:27,622.97 Cr INR
Address: Wockhardt Towers, 3rd Floor, West Wing, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India.
Contact information:+91 22 4095 9595