Non-Banking Without fitting the definition of a bank, financial companies are institutions that provide financial and banking services. Look at India’s top 10 financial institutions.
Institutions that provide financial and banking services without really matching the requirements of a bank are known as non-banking financial companies (NBFC). These organisations are governed by the central bank and are essential to a nation’s economic development.
The top finance businesses in India are listed below
- Bajaj Finance Limited: Bajaj Finserv Ltd., Bajaj Finance Limited was established in 2007. Its main office is in Pune. Small and medium-sized enterprises (SMEs), consumer finance, general insurance, commercial lending, and wealth management are all business areas for the organisation.
- Tata Capital Financial Services Ltd
India’s Tata Capital Limited offers financial and investment services. The Mumbai-based business provides various services, including consumer loans, wealth management, commercial financing, and infrastructure financing. The company was founded in 2007 and is a division of Tata Sons Limited.
- Aditya Birla Finance Ltd
Aditya Birla Financial Services includes Aditya Birla Finance Limited. It was founded in 1991 and provides exact and specialised solutions within capital markets, structured finance, and corporate finance, including commercial mortgages.
- L & T Finance Limited
Established in 1994, L & T Finance Limited is based in Mumbai. It provides financial services to various industries, including trade, agriculture, and business.
- Muthoot Finance Ltd
It was founded in 1888 and is the earliest NBFC institution in India. Muthoot Finance Ltd provides foreign exchange, money transfers, asset management, travel, tourist services, and loans secured only by gold jewelry.
- Mahindra & Mahindra Financial Services Limited
Mahindra & Mahindra Financial Services Limited, a rural non-banking financial institution with its headquarters in Mumbai, was founded in January 1991 as Maxi Motors Financial Services Limited. It is one of the top tractor financiers in India and provides various services, including corporate and working capital advances and gold advances.
- HDB Financial Services
The HDFC Bank-owned HDB Financial Services provides both secured and unsecured loans. It is regarded as one of the fastest-growing financial organisations in India that work in the Lending Business and BPO Services areas.
- Power Finance Corporation Limited
Power Finance Corporation Limited, established in 1986, offers funding for various national power projects that helps businesses engaged in power production, transmission, and distribution.
- Shriram Transport Finance Company Limited
The business, founded in 1979, focuses on stockbroking, general protection, mutual funds, and typical assets, including general insurance. The company concentrates on financing business and commercial automobiles, among other things.
- Cholamandalam Investment and Finance Company
As the financial services division of the Murugappa Group, Cholamandalam Investment and Finance Company began as an equipment lending business in 1978 before growing into a financial services provider.
| S.No | Finance Company |
| 1 | Bajaj Finance Limited |
| 2 | Cholamandalam Investment and Finance Company |
| 3 | Shriram Transport Finance Company Limited |
| 4 | Power Finance Corporation Limited |
| 5 | HDB Financial Services |
| 6 | Mahindra & Mahindra Financial Services Limited |
| 7 | Muthoot Finance Ltd |
| 8 | L & T Finance Limited |
| 9 | Aditya Birla Finance Ltd |
| 10 | Tata Capital Financial Services Ltd |
