As the Indian economy continues to expand, Non-Banking Financial Companies (NBFCs) have become increasingly important in providing financial services to individuals and businesses. In this article, we’ll be exploring the top 10 NBFCs in India for 2022, their services offered and their current market share. So if you’re looking for a reliable NBFC partner for your business or personal needs, read on to find out which companies are rising to the top!
Top 10 NBFC largest in India are as follows:
1. Bajaj Finance: It is one of the most diversified NBFCs in India with a presence across businesses like consumer finance, SME & commercial lending, rural financing, and more.
2. Shriram City Union Finance: It is an NBFC that is focused on retail lending for things like two-wheeler loans, consumer durable loans, etc.
3. Mahindra & Mahindra Financial Services: This is an NBFC that is part of the larger Mahindra Group and it offers financing solutions for products like cars, trucks, etc.
4. Capital First: It is an NBFC that offers a range of financial services including business loans, home loans, personal loans, etc.
5. LIC Housing Finance: As the name suggests, this NBFC focuses on housing finance and provides solutions like home loans, mortgage loans, etc.
6. Magma Fincorp: It is an NBFC with a focus on providing vehicle finance solutions like car loans, two-wheeler loans, etc.
7..Reliance Capital: It is an NBFC that offers a wide range of financial services including asset management, capital markets, insurance broking, etc.
8..Kotak Mahindra Bank: Although it started out as an NBFC focused on vehicle finance solutions like car loans and two-wheeler loans
The 10 Most Valuable NBFC In India
1. Bajaj Finance
2. HDFC
3. Shriram Transport Finance
4. Mahindra & Mahindra Financial Services
5. Fullerton India Credit Company
6. Repco Home Finance
7. Indiabulls Housing Finance
8. Muthoot Finance
9. Magma Fincorp
10. Capital First
The Top 10 Largest Asset Finance Companies
The top 10 largest asset finance companies in India are:
1. SBI Capital
2. Shriram Transport Finance
3. L&T Finance
4. Bajaj Finance
5. ICICI Lombard General Insurance
6. Magma Fincorp
7. Birla Sun Life Insurance
8.HDFC Standard Life Insurance 9. Reliance Nippon Life Insurance 10. Tata AIA Life Insurance
The 10 Fastest Growing NBFC In India
2. Bajaj Finance Limited
3. Shriram Transport Finance Company Limited
4. Mahindra & Mahindra Financial Services Limited
5. Magma Fincorp Limited
6. Tata Capital Financial Services Limited
7. Reliance Capital Limited
8. Cholamandalam Investment and Finance Company Limited
9. L&T Finance Holdings Limited
10. Aditya Birla Finance Limited
1. Kinara Capital: Empowering Small Businesses in India
Kinara Capital is a game-changer in India’s financial landscape, dedicated to uplifting small and medium enterprises (SMEs). Founded in 2011, Kinara Capital bridges the financial gap that traditional banking systems often overlook, offering fast and flexible loans to SMEs, enabling them to scale, innovate, and thrive.
What sets Kinara Capital apart is its unique approach to lending. Unlike conventional banks, Kinara focuses on assessing the potential of a business rather than relying solely on collateral or credit history. By using proprietary data-driven technology, Kinara evaluates the business’s viability and provides loans ranging from ₹1 lakh to ₹30 lakhs without requiring any property collateral. This approach has empowered thousands of entrepreneurs across diverse sectors like manufacturing, trading, and services.
With a strong emphasis on inclusivity, Kinara Capital primarily supports underserved segments of society, including women entrepreneurs. Their “HerVikas” program offers women entrepreneurs discounted loans, enabling them to achieve their business goals and contribute to economic growth.
Kinara’s commitment to innovation and customer-centric services has led to a seamless digital loan application process. Entrepreneurs can apply through their website, mobile app, or local representatives, with loan disbursement happening in as little as 24 hours. This speed and efficiency make Kinara a lifeline for small businesses in urgent need of capital.
As of today, Kinara Capital has disbursed over ₹4,000 crores in loans, positively impacting more than 1,00,000 small businesses and generating countless jobs in the process. Its unwavering dedication to financial inclusion and SME growth has won Kinara Capital numerous accolades and established it as a trusted partner for aspiring entrepreneurs.
Kinara Capital isn’t just a financial institution; it’s a movement empowering India’s entrepreneurial spirit, helping small businesses dream big and achieve bigger.
2. Bajaj Finance Limited
Bajaj Finance Limited is one of the top NBFCs in India and offers a wide range of financial products and services to its customers. The company has a strong focus on customer service and offers competitive interest rates on its products.
Bajaj Finance Limited offers a variety of loans including personal loans, home loans, car loans, and business loans. The company also provides credit cards, investment products, and insurance products. Bajaj Finance Limited has a wide network of branches across India and offers online banking services.
The company has a strong focus on providing quality customer service and offers 24/7 customer support. Bajaj Finance Limited has won several awards for its customer service including the Best Customer Service Award from the Asian Consumer Council.
3. Shriram Transport Finance Company Limited
Shriram Transport Finance Company Limited is one of the leading NBFCs in India with a strong focus on the truck financing business. The company has a nationwide network of over 400 branches and offers a range of products and services to meet the diverse needs of its customers.
Some of the key products and services offered by Shriram Transport Finance Company Limited include:
-Truck financing
-Working capital loans
-Loan against property
-Fixed deposit schemes
-Leasing and hire purchase facilities
The company has a strong track record of growth and profitability and is well placed to capitalize on the growing demand for truck financing in India.
Shriram Transport Finance Company Limited is one of the leading NBFCs in India with a strong focus on the truck financing business. The company has a nationwide network of over 400 branches and offers a range of products and services to meet the diverse needs of its customers.
Some of the key products and services offered by Shriram Transport Finance Company Limited include:
-Truck financing
-Working capital loans
-Loan against property
-Fixed deposit schemes
-Leasing and hire purchase facilities
The company has a strong track record of growth and profitability and is well placed to capitalize on the growing demand for truck financing in India.
4. Mahindra & Mahindra Financial Services Limited
Mahindra & Mahindra Financial Services Limited is an Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra. It is a subsidiary of the Mahindra Group, one of India’s largest business conglomerates. The company offers a range of banking and financial products and services including deposits, loans, credit cards, insurance, investments, and wealth management.
The company was founded in 1991 as a non-banking financial institution (NBFI) and was later converted into a bank in 2003. As of March 2020, the bank had a network of over 2,000 branches across India with assets under management (AUM) of INR 3 trillion (US$41 billion). The bank has been ranked amongst the top 50 banks in India by several publications including The Banker magazine and Business Today.
In 2015, the Reserve Bank of India (RBI) imposed a penalty of INR 10 crore (US$1.4 million) on the bank for violation of norms related to Know Your Customer (KYC) and Anti-Money Laundering (AML).
5. Magma Fincorp Limited
Magma Fincorp Limited is one of the oldest and most trusted NBFCs in India. They offer a wide range of financial services including personal loans, home loans, vehicle loans, SME loans, and agri-loans. They have a strong presence in over 25 states and 150+ districts across India.
They are known for their customer-centric approach and efficient service delivery. Their digital platform Magma Connect allows customers to apply for loans, make payments, and track their loan status online.
Magma Fincorp Limited has been awarded the Best Retail NBFC at the 11th edition of the India FinTech Awards 2020.
6. Tata Capital Financial Services Limited
Tata Capital Financial Services Limited is a leading Non-Banking Financial Company (NBFC) in India. The company offers a wide range of financial products and services to individuals, corporates and SMEs.
Tata Capital is one of the largest NBFCs in India with a strong presence across the country. The company has a wide network of branches and ATMs, and offers a comprehensive suite of digital channels for its customers.
Tata Capital offers a variety of loans, including personal loans, home loans, car loans, two-wheeler loans, business loans and more. The company also provides other financial services such as investment banking, insurance, wealth management and more.
With over 20 years of experience in the financial services industry, Tata Capital is a trusted name in India. The company is committed to providing quality service and customer satisfaction.
7. Reliance Capital Limited
Reliance Capital Limited is one of the largest non-banking financial companies (NBFCs) in India. It is a part of the Reliance Group and offers a range of financial products and services to retail, corporate and institutional customers.
The company has a strong presence in various segments such as asset management, commercial finance, consumer finance, investment banking, life insurance, private equity and real estate financing.
Reliance Capital Ltd was founded in 1986 and is headquartered in Mumbai. As of March 31, 2018, the company had total assets of Rs. 1,61,173 crore (US$ 24.4 billion) and net worth of Rs. 14,074 crore (US$ 2.1 billion).
8. Cholamandalam Investment and Finance Company Limited
Cholamandalam Investment and Finance Company Limited is a non-bank financial institution in India that offers a range of financial products and services to individuals and corporates. The company was founded in 1978 and has its headquarters in Chennai, Tamil Nadu.
Cholamandalam Investment and Finance Company Limited offers a wide range of financial products and services, including loans for businesses, home loans, personal loans, vehicle loans, and credit cards. The company also provides insurance products, such as life insurance, health insurance, motor insurance, and travel insurance. In addition, Cholamandalam Investment and Finance Company Limited offers investment products such as mutual funds and fixed deposits.
The company has a strong network of branches across India and a dedicated team of customer service executives who are always ready to assist customers with their queries and requirements. Cholamandalam Investment and Finance Company Limited is committed to providing high-quality service to its customers and strives to maintain the highest standards of ethical conduct.
9. L&T Finance Holdings Limited
L&T Finance Holdings Limited is one of the leading non-banking financial companies (NBFC) in India. It is a part of the Larsen & Toubro Group, one of the largest engineering and construction firms in India.
L&T Finance Holdings Limited offers a wide range of financial products and services to its customers, including loans, investments, insurance, and deposit products. The company has a strong focus on rural and semi-urban markets and has a widespread network of branches across India.
L&T Finance Holdings Limited is one of the few NBFCs in India that is listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The company has a strong presence in both retail and institutional markets and is one of the leading players in the Indian NBFC space.
10. Aditya Birla Finance Limited
Aditya Birla Finance Limited (ABFL) is one of the leading NBFCs in India. It offers a range of financial products and services to retail, SME and corporate customers. ABFL is a part of the Aditya Birla Group, one of the largest business houses in India.
ABFL has a strong presence in both rural and urban areas across India. It has a network of over 1,000 branches and 2,500 touch points. ABFL offers a wide range of products including loans for home purchase, loans against property, personal loans, vehicle loans, business loans, etc.
ABFL also provides credit cards, deposit products, insurance products and investment products through its subsidiaries. The company has received several awards and recognitions for its performance over the years.
Conclusion
We hope that this article has given you a helpful overview of the top 10 NBFCs in India. With so many different options to choose from, it can be difficult to decide which one is right for you. However, by carefully researching each option and understanding what services they offer, it should be much easier for you to make an informed decision about your financial needs.
