Check out the below list of Top 10 Non Banking Financial Companies in India by 2017, Covered under the RBI’s banking regulations, these are the companies that provide banking facilities without meeting the lawful definition of a bank. They are characteristically restricted from taking deposits from the public but other banking services like loans, credit facilities, TFCs, retirement planning, trading in money markets are provided by these institutions. There are numerous such institutions operating across the country and millions of customers are getting benefited by these.
Given below are the Top 10 Non Banking Financial Companies in India and the countdown follows:
10. RELIANCE CAPITAL
Established in the year 1986 by Dhirubhai Ambani, Reliance is one of the top companies that provide financial services in the country. It is under the management of the Anil Ambani Group. The major services provided are Asset Management, Commercial Finance, Broking and Distribution and Insurance are some of the domains in which the company operates. Mutual Fund, Life Insurance, Mortgage, Business Loan and Asset Construction. It has over 11,000 employees across all major Indian cities. The headquarters is located in Mumbai. The total asset of the company is about 1.1 billion dollars.
9. L&T FINANCE
Founded in 1938 by Danish engineers, L & T Finance Limited offers financial services for various sectors like agriculture, industry, trade, etc. Its headquarters is located n Mumbai and has been awarded as the company of the year in the 2010 Economic Times awards. Some of their services include help related to Personal Vehicle Loans, Commercial Vehicle Loans, Rural Loans and Corporate Loans are some of the products of the company. L & T Finance has catered to 10 lakh people.
8. MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED (MMFSL)
Mahindra and Mahindra Financial Services Limited (MMFSL) is one of the country’s top rural NBFC. It was established in 1991 and has over 1000 branches in the country. Their services include vehicle loans, home loans, gold loans, corporate loans, working capital loans, etc. Mahindra Insurance Brokers Limited and Mahindra Rural Housing Finance Limited are its two subsidiaries these subsidiaries offer insurance services and housing financial services of premier quality. It has more than 3 million customers.
7. SUNDARAM FINANCE
Founded in 1954 by Shri. T. V. Sundram Iyengar, Sundaram Finance is one of the branches of the TVS group of companies. It offers financial aid for the purchase of commercial vehicles and passenger cars. It also caters to other needs like investments, business finance and retail business. It has revenues of approx. Rs.600 crores in 2006-2007.It has an employee strength of more than 2000 people.
6. SHRIRAM TRANSPORT FINANCE COMPANY LIMITED
This company offers financial services in matters related to transport. It was founded in the year 1979 by Ramamurthy Thyagarajan, AVS Raja and T. Jayaraman. Their headquarters is situated in Chennai, Tamil Nadu. Its other specializations include services in like mutual funds, general insurance, stock broking, and also finance for Heavy Duty Truck, Light Duty Truck, Passenger Vehicle, Farm Equipment, Mini Truck, Construction Vehicle, etc. It is one of the Top 10 Non Banking Financial Companies in India 2017.
5. LIC HOUSING FINANCE LIMITED
Life Housing Finance Limited or LIC HFL was founded 1989 and its headquarters is located in Mumbai’s facilities include loans for construction, repair and renovation of houses and flats. Since the company’s existence it has provided over Rs 1.39 Lakh Crore in home loans. It has more than 230 offices in the country.
4. INDIABULLS HOUSING FINANCE LIMITED
India Bulls was founded in 2000 and is the Winner of Best Housing Finance Company of the Year. It is one of the top companies which provide financial assistance relating to housing matters. Its headquarters is located in Gurgaon and its corporate office in Mumbai. This company is also listed in the Luxembourg stock exchange
3. POWER FINANCE CORPORATION LIMITED
Managed by Mukesh Kumar Goel (Chairman & Managing Director) the Power Finance Corporation Limited provides financial aid to the different ongoing power projects of the company. It is a part of the Navratna Status Company and was established in the year 1986. Projects related to power transmission, Power generation and distribution are offered financial support by this company.PFC is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
2. BAJAJ FINSERV
Bajaj Finserv founded in the year 2007 is a part of Bajaj Holdings & Investments Limited and is one of the leading financial companies of India. Bajaj Finserv Limited offers its services in the business of lending, wealth advisory and insurance. Personal Loan, Doctor Loan, Gold Loan, Home Loan and Business Loan are some of the products of the company. It has about 20,000 employees and is established in more than 1400 locations in the country.
HasmukhBhai Parekh founded HDFC in the year 1977. This company is one of the best in providing loans and financial aid for housing in the country. It has over 300 outlets and caters to more than 2,400 towns and cities. It has provided Rs 2.5 Trillion in loans and financed over 50 lakh cumulative units. Home Loans, Plot Loans, Home Improvement Loans and Loan against property are some of the products of the company. Its headquarters is located in Mumbai and the total assests of the company is 3.44 billion dollars. It is one of the most popular NBFC in the country.
This was the list of Top 10 Non Banking Financial Companies in India 2017 that are well renowned and trusted across the country. India having one of the biggest economies of the world, contributed by the massive financial sector in the country. The NBFC sector has accounted for the 12.5% of the country’s gross product. It is safer for both rural and urban regions and ensures the safety for money, quick monetary assistances and promotes the growth of the country.