Top 20 NBFCs in India
Updated: Jul 23
Non-Banking Financial Companies (NBFCs) is a financial institution that operates much like banks but does not have a full banking license, It cannot provide all the facilities that banks offer. NBFCs cannot provide certain banking services that banks offer. Though NBFCs provide loans, insurance schemes, credit facilities, retirement plans, etc., they are restricted from taking any form of deposits. Though credit cards are offered only by banks, NBFCs are now allowed to venture into the credit card business upon obtaining approval from the Reserve Bank of India.
Here are the top 20 NBFC's of India
1. Bajaj Finserv Limited
Bajaj Finserv Limited is an Indian Financial Services Company that is a part of Bajaj Holdings & Investments Limited. The company is engaged in the consumer finance business, life, and general insurance, etc. Their popular product is the EMI card which offers a ‘No Cost EMI’ (processing fees charged) facility to numerous customers. With the approval of RBI, the company has also ventured into the credit card business.
2. Mahindra Finance
Mahindra Finance has diversified into a financial service provider, offering a wide range of financial products to varied customers. The company has built a reputation of its own by serving in over 3,60,000 villages. Mahindra Finance has been recognized as Aon Best Employer 2017 and Best BFSI Brands 2018 by The Economic Times. The company is offering the following products to their customers.
Mutual Fund Schemes
3. HDB Financial Services
Being one of the leading non-banking financial services companies in India, HDB Financial Services offers various financial products and services to their customers. It is a subsidiary company of HDFC Bank. Established in 2007, HDB Financial Services is accredited with CARE AAA and CRISIL AAA rating for long-term debt and banking facilities and A1+ rating for short-term debt and commercial papers. The company is growing strong with over 1000 branches spread across 22 states and 3 union territories. BPO services is another domain of the company that is involved in forms processing, document verification, finance and accounting services, and correspondence management.
4. Muthoot Finance
Well-known for its gold loans, Muthoot Finance is headquartered in Kochi, Kerala. Besides offering gold loans, Muthoot Finance is also involved in foreign exchange services, money transfers, wealth management services, travel, and tourism services. Gold coins are also sold at Muthoot Finance branches. The company operates over 4,400 branches across 24 states in the country. It is also the parent company of Muthoot Housing Finance (India) Ltd, which offers home loans.
5. Tata Capital Limited
Established in 2007, Tata Capital Limited is a subsidiary of Tata Sons Limited. Offering a wide range of financial services and products to their customers, the company is steadily growing with over 200+ branches all over the country. The company provides services in the following categories.
6. Aditya Birla Finance Limited
Being one of the leading non-banking financial companies in India, Aditya Birla Finance Limited offers a wide range of services to varied customers. The company is registered with RBI as a systemically important non-deposit accepting non-banking financial company that ranks among the top 5 largest private diversified NBFCs in India based on AUM. The company offers services in the following categories.
General Insurance Broking
7. Cholamandalam Investment & Finance Company Limited
Starting as the equipment finance company in 1978 as the branch of the Murugappa Group, Cholamandalam Investment & Finance Company Limited today provides various financial services to a wide range of customers. Offering vehicle finance, home loans, home equity loans, SME loans, investment advisory services, stockbroking, the company operates from over 900 branches across India.
8. Shriram City Union Finance Limited
Established in 1986, Shriram City Union Finance Limited is a part of the Shriram Group. Registered with RBI as a deposit accepting non-banking financial company, Shriram City Union Finance Limited is specialized in retail finance. With over 1000 outlets across India, the company is listed on the Bombay Stock Exchange (BSE) and Madras Stock Exchange. The company is also involved in various non-profitable activities, empowering student communities and rural people in India.
Indiabulls is a non-banking financial company that offers diversified services in consumer finance, housing finance, and personal wealth. Apart from that, the company also has a presence in real estate, pharmaceuticals, lighting and infrastructure and construction equipment leasing. Indiabulls has been rated as AAA by leading rating agencies. It has also been listed in the BSE and NSE.
10. Sundaram Finance
Established in 1954, Sundaram Finance began its operation with the objective of providing financing for commercial vehicles. Later on, over the period, the company has diversified its business. Following are the financial products and services offered by Sundaram Finance:
Construction Equipment Finance
Wealth Management Services
11. L&T Finance Holdings
L&t Finance Holdings Limited is a Public incorporated on 01 May 2008. It is classified as a Non-govt company and is registered at Registrar of Companies, Mumbai. Its authorized share capital is Rs. 99,999,998,000 and its paid-up capital is Rs. 35,946,811,000. It is involved in Activities auxiliary to financial intermediation, except insurance and pension funding. This Group includes activities involved in or closely related to financial intermediation other than insurance and pension funding but not themselves involving financial intermediation. Activities auxiliary to financial intermediation, except insurance and pension funding
12. IndiaBulls group
Indiabulls Group started operations in 1999 as a financial services company. Today, the Group has businesses spread across housing and consumer finance through independent and listed companies on Indian stock exchanges.
Website: Indiabulls - Wikipedia
13 Credit Access Gramin Limited
Credit Access Gramin limited helps those low-income groups find access to find affordable loans on time and it was founded in the year 1999. This was basically a result of an initiative taken by T Munisamappa trust, an NGO based out of south Bangalore, the need for seed capital was met by Gramin trust now it is well-established and trustedNFBC in the market.
14. Motilal Oswal financial services
Motilal Oswal Financial Services Limited is a Public incorporated on 18 May 2005. It is classified as a Non-govt company and is registered at Registrar of Companies, Mumbai. Its authorized share capital is Rs. 1,490,000,000 and its paid-up capital is Rs. 146,730,880. It is involved in Activities auxiliary to financial intermediation, except insurance and pension funding. This Group includes activities involved in or closely related to financial intermediation other than insurance and pension funding but not themselves involving financial intermediation
15. Bengal and Assam company limited
Bengal & Assam Company Limited is a listed public company incorporated on 30 January 1947. It is classified as a public limited company and is located in Kolkata, West Bengal. Its authorized share capital is INR 374.55 cr and the total paid-up capital is INR 76.30 cr.
16. Vardhaman holdings limited
Vardhman Holdings Ltd., incorporated in the year 1962, is a Small Cap company (having a market cap of Rs 1,066.80 Crore) operating in the Holding Company sector. Vardhman Holdings Ltd. key Products/Revenue Segments include Income From Sale Of Share & Securities, Interest and Dividend for the year ending 31-Mar-2021.
17. CSL Finance limited
CSL Finance Limited was incorporated on 28th December 1992. We are a Non-Banking Finance Company registered with the Reserve Bank of India and listed on the Bombay Stock Exchange. The company provides secured loans and bridge finance to mid-sized corporates and has recently forayed into the SME Loan segment.
18. Axis Finance Limited
Axis Finance Limited is a Public incorporated on 27 April 1995. It is classified as a Non-govt company and is registered at Registrar of Companies, Mumbai. Its authorized share capital is Rs. 10,000,000,000 and its paid-up capital is Rs. 4,822,499,800. It is involved in Other financial intermediation. [This group includes financial intermediation other than that conducted by monetary institutions.
19. GIC housing finance
GIC Housing Finance provides home loans to customers at a competitive interest rate starting from 7.45%. There are various housing loan schemes available that can be used for: purchase/construction of a new house; improvement of an existing property; extension of the already-owned house and more.
20. Can Fin Homes ltd
Can Fin Homes Ltd is one of the top players in the housing finance sector, in the country today. The Company has completed 32 successful years of operation in the field of home finance and has a renowned history of making profits and paying dividends continuously, since its inception in 1987.