Financial companies provide loans or start up capital for starting business or housing loans, vehicle loans etc. These companies aren’t banks but provide financial aid to the people. Such companies also provide economic stability. Given below are the top 10 best financial companies in India 2019.
10. IFCI LTD.
Previously known as Industrial Finance Corporation of India was established on 1948. This company provides aid to projects related to infrastructure. It is a government owned development bank which also provides assistance in the industrial sector. Until 1956, this company I was solely responsible for the implementation of the government’s industrial policies. The company’s income was than Rs 3,300 Crore.
9. INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY LTD (IDFC)
It was founded in 1997 and its headquarters is located in Chennai.This company provides solutions related to infrastructure, asset management and investment banking. It also finances projects related to like Roads, Energy, Industrial Parks, Communication, etc. The company’s equity shares were listed at the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE).The income of this company is more than Rs 9,700 Crore. And this company has lent loans for more than Rs 54,000.
8. MUTHOOT FINANCE
Founded in 1939 in Kochi Kerala Muthoot Finance is one of the finances of the country. Well known for its gold loan scheme it aims at providing loans to people. It also provides services in Wealth Management Services, Money Transfer, etc. It has branches in the UK, US and also in the UAE. Its stocks are also mentioned in BSE and NSE. The company earns more than Rs 6,963 Crores .
7. L&T FINANCE LIMITED
This company was founded in the year 1938 by Danish Engineers. The financial sector of this company was established in the year 1994. Since then this company has provided its valuable services in the field of finance. It has won the 2010 Economic Times award. Its headquarters is located in Mumbai and provides assistance Home Loan, Business Loan, Commercial Vehicle Loan, etc. The company’s income is about Rs 10,247 Crore.
6. SHRIRAM TRANSPORT FINANCE COMPANY (STFC)
This company was founded in the year 1979 by Ramamurthy Thyagarajan, AVS Raja and T. Jayaraman. Their headquarters is situated in Chennai, Tamil Nadu. Shriram Transport Finance Company (STFC) aims at providing finance for commercial vehicles like truck, tractor, dumpers, mini truck; etc.It is one of the top companies of the country to provide financial support to buy vehicles. The income generated by this company was more than Rs 8,600 Crore with a net profit was over Rs 1,200 Crore. This is one amongst the top 10 best financial companies in India 2019.
5. RURAL ELECTRIFICATION CORPORATION LTD. (REC INDIA)
This company was founded in the year 1969 and aims at providing financial assistance to the power projects, which include Thermal Power Project, Hydro Power Project, etc. The company’s main goal is to ensure the development in rural regions and provide financial support to all the rural development projects. This company has financed the Santaldih Thermal Power Plant (West Bengal), Utran Thermal Power Plant (Gujarat) and Tehri Hydro Electric Plant (Uttarakhand). The company has a profit of Rs 20,000 Crore.
4. POWER FINANCE CORPORATION LTD. (PFC)
This company is managed by Mukesh Kumar Goel (Chairman & Managing Director) and f\was founded in the year 1986. It is subsidiary to the Navaratna Status Company. The company provides loans for projects related to power sector, which include power generation, power transmission and power distribution. The company generates income more than Rs 24,000 Crore and net profit of more than Rs 5,900 Crore. State Electricity Boards, Private Power Companies and Joint Sector Power Companies are its important customers.
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).
3. LIC HOUSING FINANCE LTD.
Headquarter in Mumbai this company is one of the most trusted company of the country. It was founded in 1989. This company is known name among all Indians. This company provides loans for construction, renovation and repairing of houses and offices. The company also provides loans to builders and developers for construction of residential projects and premises. The company’s income crossed Rs 10,000 Crore. And its market capital is Rs 24,423 Crore.
2. BAJAJ FINANCE LIMITED
This company was founded in the year 2007 and is part of the Bajaj Group. This company aims at providing different types of loans like home loan, gold loan, personal loan, doctor loan; .The Company’s income is more than Rs 5,400 Crore. With its market value of Rs 31,225 Crore. It has about 20,000 employees and is established itself in more than 1400 locations across the country.
1. HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED (HDFC)
Housing Development Finance Corporation Limited or also known as HDFC is the top finance company of the country. It was established in the year 1977. It has more than 1633 employees and has its branches throught the country. It provides Housing Loans as well as Non Housing Loans. The company’s income is more than Rs 27,400 Crore and profit of more than Rs 5,900 Crore. The company was founded by Hasmukhbhai Parekh and is one of the top financial companies of the country.
These are the top 10 best financial companies in India 2019. These companies boost the country’s economy by providing financial assistance to various development projects. These companies also cater the needs of small scale industries too by providing financial support. All in all these companies are highly important to maintain a steady economic growth.