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The financial system of a country has a great impact on the economy with financial services companies responsible for the robust economic growth. There has to be a direct link between the regulatory institutions and the intermediary institutions while determining the financial system of a country.
Financial services provided by finance companies include insurance, housing financing, mutual funds, credit reporting, debt collection, stock broking, portfolio management, and investment advisory.
List of top 10 financial services companies in India
Find below a comprehensive list of top financial services companies in India.
SBI Capital Markets Limited:
This happens to be the oldest organizations in the sphere of capital markets in India. Established in 1986 in the form of an ancillary of SBI, they have ranked second in Asia's Project Advisory services. The company is a traiblazer in privatization and securitization. The subsidiaries of SBI Capital Markets are SBICAPs Ventures Ltd., SBICAP Trustee Co.Ltd. and many others.
Bajaj Capital Limited:
One of the major financial services companies in India, Bajaj Capital offers best investment advisory and financial planning services. The services are meted out to the institutional investors, NRIs, corporate houses, individual investors, high network clients as well.
DSP Merrill Lynch Limited:
A major player in the equity and debt market in India, DSP Merrill Lynch offers financial advises to varied corporations and institutions. With an array of wealth management and investor services, their services are customized in a manner that they meet every investor requirement.
Birla Global Finance Limited:
The subsidiary of Aditya Birla Nuvo Ltd., this company has operations in the corporate finance and capital market arena. An alliance with Sun Life Financial of Canada, they have given birth to Birla Sun Life Insurance Co Ltd., Birla Sun Life Distribution Co. and alike.
Housing Development Finance Corporation:
A best financial solution for home loans, NRI loans, HDFC is the one stop destination for personal finance. With overseas branches in Singapore, Kuwait, Qatar, Saudi Arabia and many others, HDFC has been going great guns every year.
PNB Housing Finance Limited:
This company offers premium solutions for relieving the borrower segment. The Home Loan Life Insurance Plan of this has come in conjunction with TATA AIG, with the lowest premium when compared to the peers.
ICICI Group:
Wide arena of financial products and services, ICICI Group has solutions like InstaBanking, Online Trading, Insta Insure, ICICI Bank imobile etc. Providing high class financial services in all segments of the society, ICICI Group deals with Mutual Fund, Private Equity, Securities, and Life Insurance etc.
LIC Finance Limited:
It is the biggest Housing Finance Company in India, providing finance to individuals for repair or construction or renovation of any old or new apartment or house.
L & T Finance Limited:
Established in 1994 by the Larsen and Turbo group, this has become a significant name in the financial sector. Funds for automobiles, Agricultural Instruments, secured loans; they have all types of loans for a long tenure.
Karvy Group:
With Mutual Funds Services, Depository Services, Debt Market Services, Investment Banking and many others, Karvy Group has spanned across the domestic financial sector as well as abroad.