Every business or every individual needs some kinds of financial services at various intervals of time to get rid of certain problems. These financial services are usually provided by various financial companies.
India is full of these financial companies as there are huge numbers of companies available that deal in providing various kinds of financial services. But one should be very sure to pick the right company as one wrong decision can cost him a lot of money.
Though there are lots of companies to choose from, still to make your job easy, here is the list of top 10 non-banking financial companies in India 2020.
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10. Muthoot Finance
Muthoot Finance is one of the leading non-banking finance company in India. It was established in the year 1939 and since then, it has emerged as one of the leading gold coins selling company. Not only that, Muthoot finance also provides loan against gold which was not provided by any of the companies before but now lots of companies and banks have started giving loans against gold. The company has opened over 4400 branches all around India and has employed 30,000+ workers in these branches. The company has total assets worth Rs.23000+ crores which are huge for any company. The head office of the company is in Kochi, India and due to all the services they provide and due to the huge amount of assets they have, the company ranks at no. 10 in this list.
9. M&M Financials
M& M or Mahindra & Mahindra Financials services limited are one of the largest non-banking financial companies in India. The core services of this company include Mutual funds, fixed deposits, rural housing finance, life insurance and non-life insurance brokerage services etc. The company has served over 4.7 million people till now and has 1181 offices all around India. In these 1181 offices, a total of 16,000 employees does their work passionately. The company was established on the first day of the year 1991 and in these 26 years, the company has total assets worth Rs.17000 crores. These all points, make this company rank at no. 9 on this list.
8. Bajaj Holdings
Bajaj Holdings rank at no. 8 on this list due to the emergence of the company in finance field in very fewer years. The company was established in the year 2017 and in just 10 years, the company has made a big name in the industry. The company carries total assets worth Rs. 13,000 crores and they have made this amount in just 10 years which is very impressive. The company has opened offices in all around India and has incorporated 1000+ employees in those offices. The core services that the company provides include Assets management, Microfinance services, and various types of loans. The head office of the company is in Mumbai and soon the company can become a bigger name in this field.
7. Shriram Transport Finance
This company is one of the few companies that have been given any kind of award by the government of India. Shriram transport finance has received a Padma Bhushan by the honorable president of India due to the services that it has provided over last many years. The company was established in 1974 and has been serving people for more than 40 years now. The company provides various kinds of loans especially vehicle loans etc. In other services, the company also provides microfinance services, city union finance etc. The company has employed 2000+ workers in their 20 different offices and all the employees do their work passionately. It is ranked at no. 7 because of the services that it has provided in past 40 years and because of the assets worth Rs.21, 340 crores that the company is having.
6. Shree Global
Though the company provides their best services for manufacturing iron and steel, but it has also served a lot of people with various kinds of financial services in the past many years. The company was established in 1986 and though the company is specialised in making steel and iron, they have managed to made assets worth of Rs.900 crores with their financial services as well. The company has employed over 2000 workers in their various offices all around India.
5. Rural Electrification Corporation
This company is one of the few companies that have featured in Forbes global 2000 companies of the year. The company managed to achieve this award in the year 2010. The company is famous for providing services like private banking and asset management etc. With the establishment in 1969, the company has made a great growth in 48 years and that is why the company is having assets of worth $105 billion. The head office of the company is in Delhi and it is one of the biggest non-banking finance company in India.
4. Infrastructure development Finance Company
It is a Chennai-based company that deals in providing financial services to all the infrastructure related projects all around India. The company was established in 1997 and in just 20 years, the company has made assets worth $500 million for itself. The core services of the company include providing mutual funds, investment banking services, and various other financial services.
3. Reliance Capital
This Mumbai-based company was established in 1986 by famous businessman Dhirubhai Ambani. The company provides various financial services like assets management, commercial finance, mutual funds, insurances, etc. The company has employed over 11000 employees in cities all around India. With the great work they have done so far, the company has managed to make assets worth $1.1 billion.
2. Power Finance Corporation
This 31 years old company provides financial services to all power related projects throughout India. The head office of the company is in New Delhi and it is an ISO certified company. In these 31 years, the company has been providing various financial services like loan management, investment banking, and financial consulting to its various clients. Total assets that the company is having are worth $2.36 billion.
HDFC is known as the famous private bank in India, but it has also emerged as the top non-banking financial company in India. The 40 years old company provides various financial services like Mortgages, life insurances, mutual funds, microfinance services etc. The Mumbai-based company has employed over 2000 workers in its different offices all over India and with the best services that the company provides; it has managed to make assets worth $3.44 billion for itself.
So, these were the top 10 non-banking financial companies in India, one can choose any of these companies to get various kinds of financial services.