To put it another way, an NBFC is a firm that specializes in finance and must be established under the Companies Act of 1956. This NBFC’s business is to make loans and to deal with the acquisition of market instruments such as stocks, bonds, and securities, as well as other securities of a similar sort. These market instruments are issued by governments, municipal governments, or competent corporate houses.
Many NBFCs are operating out of India. Here are some of the major NBFC operating in India
Tata Capital Financial Services Ltd.: Tata Capital Financial Services Limited is the largest non-banking financial company in India. It is a Tata Sons Limited subsidiary that was founded in 2007. TCFS touts itself as a one-stop financial services supplier for retail, corporate, and institutional consumers in a variety of industries.
Power Finance Corporation Limited: Power Finance Corporation Limited is a Navratna Status firm that was created in 1986. The company’s Chairman and Managing Director is Rajeev Sharma. Power Finance Corporation Limited is known for assisting various power projects across the country with financial help. It aids organisations that work in the power generation, transmission, and distribution industries. The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) both list the company (BSE).
Shriram Transport Finance Company Limited: Shriram Transport Finance Company Limited specialises in commercial and business vehicle financing, among other things. Since 1979, the company has provided financing for Light Duty Trucks, Heavy Duty Trucks, Mini Trucks, Passenger Cars, Construction Vehicles, and Farm Equipment.
Bajaj Finance Limited: Bajaj Finance is a subsidiary of Bajaj Holdings and Investments, which was created in 2007. It is a well-known finance organisation that provides loans to doctors for professional advancement, home loans, gold loans, individual loans, business loans, and entrepreneur loans. Apart from this, they also offer wealth management, money lending, and general insurance. It has approximately 1400 locations across the country and employs over 20000 people.
Mahindra & Mahindra Financial Services Limited: MMFSL (Mahindra & Mahindra Financial Services Limited) was founded in 1991 and now has over 1000 branches and over 3 million customers across the country. MMFSL is a well-known organisation with two affiliates that provide insurance and financial services for rural homes.
Muthoot Finance Ltd: Muthoot Finance Ltd was India’s first non-banking financial company, founded in 1888 as a tiny lender in a Kerala village. Muthoot Finance Ltd solely gives out loans in exchange for gold jewellery. It is a market leader in the gold loan and finance business in India. Muthoot Finance Ltd also provides foreign exchange, money transfers, asset management, travel, and tourist services in addition to funding gold transactions.
HDB Finance Services: HDB Financial Services is run by HDFC Bank, India’s largest private bank. Through a network of over 1,000 branches in 22 Indian states and three Union Territories, it provides a wide range of secured and unsecured financial loans.
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