These days, Non-Banking Financial Companies are rising in India as promising institutions; they incorporate insurance companies, giant stock-broking firms, organizations that grant loans for homes, aircraft, machinery, vehicles and more. According to the data presented by Microfinance Institutions Network (MFIN), NBFCs and Microfinance institutions have reported over 50% growth in the gross loan portfolio at Rs 51,878 crore in April-June in 2018 in comparison to the same period in 2017.
The NBFC area is a significant part, and it is becoming swiftly popular and present-day, it records for more than 12% of the nation’s GDP. NBFC additionally combine to the nation’s economy by lending to framework ventures. There are various non-keeping money budgetary organizations operating in the nation, which offer monetary administrations. The purpose of this article is to portray the foremost non-saving money budgetary organizations in India. Here we are providing a list of top ten Non-banking financial companies of the country. The listing is random and does not show any rating.
- HDB Financial Services
HDB Financial Services is the part of HDFC Bank. It offers a wide assortment of secured and non-secured financial loans to people. It holds a wide network of over 1,000 branches covered over 22 Indian states and three Union Territories. HDB Financial Services is recorded as the speediest developing NBFC in India.
- Bajaj Finance Limited Bajaj Finance Limited
Bajaj Finance Limited is an initiative of Bajaj Holdings and investments. Since founding, the company has emerged as one of the best NBFCs in the country. Bajaj Finance offers various loans like gold loans, business loans, home loans, personal loans, and also to doctors for their career enhancement. Moreover, it incorporates general insurance, wealth advisory, and money lending.
- Muthoot Finance Ltd
Muthoot Finance Ltd is the first NBFC of India; it was founded in the year 1888 as a small lender at a village in Kerala. This company allows loans only against pledge of gold ornaments and is a leading name in this field. Besides it also gives foreign exchange services, money transfers, wealth management services, travel, and tourism services. Gold coins are also sold at the braches of Muthoot Finance, where you can buy from.
- Reliance Capital Ltd
Reliance Capital Ltd is one of the biggest Non-Banking Finance Companies in the country. It offers different housing and consumer finance and provides funding for Small and Medium Enterprises. Additionally, other parts of the company trade with asset management, health, life, and general insurance. As the Reliance Capital is listed on stock markets, its shares are the most sought after.
- Tata Capital Financial Services Ltd
Tata Capital Financial Services Ltd is counted among the top Non-Banking Finance Companies in India; it is a one-stop financial service provider catering to the different requirements of retail, corporate and institutional customers in the business sphere. Tata Capital gives multiple products to individuals, families, and businesses. Its service portfolio combines commercial finance, wealth management, consumer loans, infrastructure finance, and distribution and marketing of Tata Cards, among others.
- Aditya Birla Finance Ltd.
It may look surprising but fact that Aditya Birla Finance Limited comes in the list of top five largest private diversified Non-Banking Finance Companies in India. It is a division of the Aditya Birla Financial Services. Aditya Birla is registered with RBI as a ‘systemically important non-deposit accepting NBFCs. It offers precise and customized solutions over a wide range, from corporate finance to commercial mortgage, and from capital markets to structured finance.
- LIC Housing Finance Ltd
LIC Housing Finance Ltd was initiated by Life Insurance Corporation of India. Life Insurance Corporation of India is the government-owned and largest insurer of this country. It offers home loans and claims to have helped over two million Indians to realize the lifelong dream of owning a house. This is among the best NBFC Company in the country.
- Mahindra & Mahindra Financial Services Limited
Mahindra & Mahindra Financial Services Limited is a renowned name in the list of top NBFCs in the Indian market. The company has more than 1000 branches in the country and offers various administratations related to money. Mahindra & Mahindra Financial offers vehicle advances, corporate advances, working capital advances, home credits, gold advances and so on. The organization holds two auxiliaries that are Mahindra Rural Housing Finance Limited and Mahindra Insurance Brokers Limited. These backups’ present protection administrations and lodging money related to administrations of head quality.
- Shriram Transport Finance Company Limited
Shriram Transport is largely directed on funding commercial and business vehicles and few more. It allows services for Light Duty Trucks, Passenger Vehicles, Construction Vehicles, Heavy Duty Trucks, Mini Trucks, and Farm Equipments. The specialization of the company is in general insurance, mutual funds, common assets, and comprehensive protection.
10. L & T Finance
Finally, L & T Finance Limited is the last name on this list. It is a renowned player in Non-Banking services. The company offers a wide assortment of budgetary administrations for various divisions like horticulture, industry, exchange, and so forth. The major offerings from the service portfolio include Individual Vehicle Loans, Corporate Loans, Commercial Vehicle Loans; Rural Loans are a portion of the results of the organization. Furthermore, till date, L and T Finance offered monetary administrations to more than 10 lakh individuals.