Top 10 Financial Companies in India
India has over 200 million people and some of the world’s biggest companies, so it should come as no surprise that there are many financial institutions in India as well. Over the years, these companies have established themselves as reputable and trustworthy, giving you and your family the kind of peace of mind that comes with knowing that your money is being handled correctly by professionals. Here’s a list of the top 10 financial companies in India.
HDFC is one of India’s most successful financial companies. It has multiple products and lines of credit. There are no hidden fees, transaction charges, or deductions for closing your account. In addition, you can pay bills online with your HDFC bank debit card. If you deposit money into your account at least once a month, there is no maintenance fee on an HDFC bank account though there is a nominal charge for some accounts that offer overdraft protection or loans for other financial services offered by HDFC. That said, you can also get free personal banking through local branches or over email and phone without any minimum balance requirements. And HDFC offers comprehensive insurance and wealth management services as well if you need them.
2. Reliance Capital
Reliance Capital Ltd is an Indian financial services company. It has a net worth of INR 32.9 billion (USD 543 million). Reliance Capital’s investment banking arm is Reliance Securities, one of India’s leading investment banks, providing corporate finance and capital markets solutions to large corporations and institutional investors. The company was formerly known as Reliance General Insurance Company Ltd. until it was demutualized in 2005 and became a public limited company listed on stock exchanges, headquartered at Mumbai. The board is led by Ghanshyam Das Birla as Chairman and Mukesh Ambani as Managing Director & CEO of Reliance Capital Limited since 2017.
3. Bajaj Finance
Bajaj Finance is a leading financial services company and was established in 1958. Headquartered in Mumbai, it offers a range of products like loans, insurance, mutual funds, and credit cards. It also provides post-retirement solutions with its flagship product Bajaj Allianz Life Insurance Company Limited (BAJALLIANZ). In 2013, Bajaj Finance secured a capital markets settlement license from the Securities Exchange Board of India (SEBI) to launch an online trading portal for investors. The same year, it launched Gold Monetization Plan or PMGMP to bring financial benefits of gold investment to small investors through a joint venture with MMTC-PAMP.
4. Citibank India
Citibank is among one of the most famous financial companies operating in India. The company was founded over a hundred years ago and has continued to serve individuals and businesses ever since. Today, Citibank has a total customer base of millions and continues to grow by leaps and bounds with each passing year. You can find branches all over major cities and towns throughout India. The services provided by Citibank are divided into three categories: retail banking, commercial banking, and investment banking; so you can rest assured that whatever your need maybe, you’ll be able to find a Citi branch near you that will meet your demands.
5. Kotak Mahindra Bank
Kotak Mahindra Bank is a public sector bank and has many decades of experience in serving its customers with great products. In fact, it’s one of India’s fastest-growing private banks that provides an excellent blend of technology and services for a diverse customer base. It offers education loans, home loans, personal loans, credit cards, and more. What sets Kotak Mahindra apart from other financial companies is its Zero Complaints policy which allows anyone to take their complaint directly to senior management. Other benefits include Kotak 24×7 Internet Banking facility as well as a mobile app that allows users to manage their accounts with ease at any time or place.
6. Yes Bank
Yes Bank, headquartered in Mumbai, is an Indian private sector bank. The bank has 859 branches and over 5100 ATMs across 736 cities and towns. The bank offers a wide range of financial products to individual, corporate, and small business segments of the economy. In May 2013, Yes Bank became India’s first bank to launch Islamic banking services with KSA-based Hajj Finance House for both retail and corporate segments of customers. In November 2014, Yes Bank launched Premium banking services for its selected clients known as Wealth Management Services or WMS. Apart from these, Yes Bank also offers a whole host of financial products including pre-paid debit cards (PPI & Debit), mobile banking solutions like m-wallet for its mobile users, salary accounts, etc…
7. Axis Bank
Axis Bank was established in 1994. It is an Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra. As of 31 March 2017, it had 20,904 branches and 12,859 ATMs across 764 cities. In FY 2016-17, its market capitalization was US$30 billion making it India’s third-largest bank by market capitalization at that time after State Bank of India and ICICI Bank. As on 29 August 2017, its market capitalization rose to US$41 billion making it one of the top 50 companies on Forbes Asia’s Fab 50 list of Asia’s biggest and most successful companies. Axis Bank has a network size larger than that of ICICI Bank or HDFC bank.
8. ICICI Bank
ICICI Bank Limited is an Indian banking and financial services company. It was established in 1994 as a wholly-owned subsidiary of ICICI Limited. The bank operates in ten countries across Asia and Africa. As of 2017, it had over 5000 branches and over 100000 employees. In June 2018, ICICI Bank was named Bank of the Year by Global Finance magazine.
9. IndusInd Bank
As a customer-centric bank, IndusInd has done its best to make banking easy for its customers. They have introduced mobile apps that allow customers to do all their banking activities using their smartphones. The bank also offers a user-friendly online portal where customers can track account balances, view monthly statements, and monitor alerts. Their investment offerings are particularly impressive. You can choose from fixed deposits, recurring deposits, mutual funds, and savings accounts to build your nest egg. Other services offered by IndusInd Bank include loans and credit cards. If you’re thinking of buying a home or car, then you should definitely consider IndusInd for your loan needs.
10. Federal Bank
It has a good geographical reach with 20 percent of its branches located in Kerala and offers products that include interest checking accounts, fixed deposits, credit cards, and personal loans. It has recently introduced a service to allow its customers to track bills using their mobile phone’s location. For example, if you want to monitor your water bill while you are at work or out of town, Federal Bank will use your smartphone’s GPS functionality to automatically send a text when payment is due. The bank also offers plenty of other digital banking services including instant remittances using local area network (LAN) transactions where funds can be sent directly from one customer’s account to another via computers within Federal Bank offices.