There are many aspects of finance under which we can save our income in a very good way. With time we can earn a good amount from it and can make our life independent and secure even more. Although it is divided into many sectors like Loan, Insurance, Investments, and Bonds in this article we have list the Top Finance Company In India. Let’s talk about some facts and figure on finance sector.
Finance sector is booming in India, there are many such sectors which are growing rapidly like mutual funds and stocks. The banking sector in India has the largest participation in the world of finance, about 64% of the banking sector’s assets are in the financial system.
To promote the finance industry, the Indian government also took out many schemes. Which are beneficial most of the Micro, Small and Medium Enterprises (MSME’s). Under this, the Indian government took out schemes like Credit Guarantee Fund Scheme for MSME and Micro Units Development and Refinance Agency (MUDRA).
Finance Industry In India
According to the report, the premium of life insurance has reached about Rs. 2.59 lakh crore in India in financial year 2020 and this number is increasing rapidly. In today’s era, mutual funds are being seen as a good investment option. The mutual funds industry is about more then US$450 Billion.
In the financial year of 2021, about 4.5 billion US dollars of funds were raised from the Initial Public Offering i.e. IPOs. Which was participated by about 55 companies, now 1920 companies are in NSE and 5,542 companies are in BSE listed.
List of Top Finance Company In India
According to the market cap and consumer’s number. Our team make a list of the top finance companies in India. If you have any kind of queries don’t hesitate to comment. We try to solve your all queries.
1. Life Insurance Corporation (LIC Ltd.)
Life Insurance Corporation of India Limited is a government owned Indian finance company that was started in 1956. When the Life Insurance of India Act passed in Parliament. According to the report, a total fund of about Rs 28.3 trillion owns by the Life Insurance Corporation. Apart from this, about Rs 21 million total policies were sold in 2018 to 2019 and more than 26 million life insurance claims were completed. There are about 290 million policy holders now in LIC.
Provides services under LIC like Housing Finance, International Finance, Card Services, Mutual Fund, Pension Fund, Health Insurance and Investment Management. India’s Finance Minister Mrs. Nirmala Seetharaman has announced this year that LIC’s IPO will be conducted under the 2021 Union Budget and it will be about $12.24 billion which is biggest IPO ever in India.
2. Muthoot Finance Ltd.
Muthoot Finance is an Indian Multinational Finance Company which is considered to be India’s largest Gold Loan Non-Banking Financial Company i.e. NBFC. It was started in 1939 in Kochi Kerala, Today it has more than 5330 branches all over the world. Services like Foreign Exchange Services, Money Transfer, Wealth Management Services, Travel & Tourism Services, Sales Gold Coin, Home Finance, Loans, and Mutual Funds are included under Muthoot Finance Ltd.
Amitabh Bachchan has been associated for many years as a premium brand ambassador of Muthoot Finance, which makes the company highly trustful in India. According to the company, till now they have a customer base of more than 70 crores in India and outside India.
3. Tata Capital Financial Services Ltd.
Tata Capital Financial Services Limited is an Indian company that owns by the Tata Capital Limited. The company is registered under the Reserve Bank of India (RBI), which is a Non-Banking Financial Company i.e. NBFC. Which provides all types of financial services to its consumers like Mutual fund, Loans, Card services and other financial services under Tata Capital Ltd. brand.
Tata Capital has more than 15 lakh+ customers across India. More than 200+ branches are available in around 140 cities in India.
4. Mahindra & Mahindra Financial Services Limited
Mahindra & Mahindra Financial Services Ltd. is a Non Banking Finance Company registered under Reserve Bank of India. It is a Mumbai India based company started by Mahindra Group. It was started in 1991 as Maxi Motors Finance Service Limited and in 1992 its name was changed to Mahindra & Mahindra Financial Services Limited.
Mahindra Motors which is a subsidiary of Mahindra Group is the world’s largest tractor manufacturing company and Mahindra & Mahindra Financial Services is also the world’s largest tractor financial company. It has more than 1000 offices all over India and approx. 45 lakh consumers are registered up to date.
Mahindra & Mahindra Financial Services Limited provides services like Tractor Loan, Utility Vehicle Loan, Car Loan, Commercial Vehicle Loan, Two-three Wheeler Loan, Personal Loan, Home Loan, Finance Management, Mutual Fund and Card Services.
5. Shriram Transport Finance
Shriram Transport Finance is a Non-Banking Financial Company started in 1979 from Mumbai India. The company registered under the Reserve Bank Of India act 1939. The company provide services like Commercial Vehicle Loan, Business Loan, Deposits services, Working Capital Loan, Life Insurance, and Card Services.
FAQs on Finance Company In India
Who is the best finance company?
According to the report Life Insurance Corporation (LIC Ltd.) and Muthoot Finance Ltd. are the best finance company in India.
Which NBFC company is best in India?
Muthoot Finance Ltd. is best NBFC company in India. Also LIC is one of the best finance company but the company owns by the Indian Government.
Which is non-banking financial company?
Those companies are the NBFC that are not owned by the government and not and financial responsibility of the Government. The companies like Muthoot Finance Ltd., Tata Capital Financial Services Ltd., Mahindra & Mahindra Financial Services Limited, Shriram Transport Finance etc. are the examples of NBFC.
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