Indias

Leading
BFSI
Companies
2017
 Indias
Leading
BFSI
Companies
2017
Indias Leading BFSI Companies 2017
Published in India by Dun & Bradstreet Information Services India Pvt Ltd.

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Indias Leading BFSI Companies 2017

9th Edition
ISBN 978-93-86214-15-7
Contents
Preface................................................................................................................... I
Foreword..............................................................................................................V
Executive Summary............................................................................................VII
Methodology....................................................................................................... XI
Definitions & Calculations.................................................................................XIII
Sector Overview
Banks.........................................................................................................XVII
NBFCs..................................................................................................... XXVII
Securities Market...................................................................................XXXIII
Mutual Funds.......................................................................................... XLVII
Insurance .................................................................................................. LIII
Interviews ................................................................................................ I-1 - I-10
Listing ..................................................................................................... L-1 - L-11
Profiles
Banks........................................................................................................1-35
NBFCs / FIs / Financial Services..............................................................37-80
Broking...................................................................................................83-90
Asset Management Companies...........................................................93-103
Life Insurance.....................................................................................109-119
Non-Life Insurance.............................................................................121-135
Abbreviation..............................................................................................139-144
Index..........................................................................................................145-149
Preface
Dun & Bradstreet India is proud to announce the launch of the ninth edition Indias
Leading BFSI Companies, one of its premier publications. The publication provides
useful information about the leading companies from the Indian BFSI (banking, financial
services, and insurance) sector. Apart from highlighting the recent developments and key
trends in the sector, it also features the major BFSI companies in the country.

FY16 was a challenging year in terms of financial stability, especially for emerging market
economies (EMEs). Most EMEs witnessed severe domestic imbalances as a result of
economic stress, and a slowdown in credit growth. However, India outperformed its EME
peers in terms of economic growth, with its GDP at constant prices (2011-12) having
grown by 7.6% in FY16. The Indian BFSI sector had a mixed performance in FY16. On one
hand, its banking sector was weighed down by rising NPAs. All scheduled commercial
banks in India saw a deceleration in the growth of both, credit as well as deposits as compared to FY15. On the other
hand, however, the aggregate balance sheet of NBFCs grew at a healthy rate. The insurance sector, both the life as well
as non-life segments, also witnessed a healthy growth in premiums. During the year, the mutual funds sector managed
to breach the ` 12 trillion mark in terms of average assets under management.

There were some major developments in FY16 that promise to shape the financial landscape in the years to come. One
of them was the in-principle approval for the setting up of payments banks. The release of guidelines for on tap licensing
of universal banks in the private sector will promote competition in the banking sector and also help enhance financial
inclusion. The governments push for digitisation has resulted in technology being leveraged for the delivery of financial
services, and has also led to the emergence of new innovative services. For instance, the launch of the Unified Payments
Interface promises to revolutionize retail payments. More recently, the governments demonetisation drive will lead to
an improvement in the liquidity levels of banks and will reduce the cost of funds. The governments plans to improve
financial inclusion are also showing good progress. These are only some of the developments that all augur well for the
Indian BFSI sector.

Dun & Bradstreet is extremely optimistic about the rapid growth of the Indian BFSI sector. We are confident that the
publication Indias Leading BFSI Companies 2017 will serve as a ready reckoner on the Indian BFSI sector. I hope you will
enjoy reading Indias Leading BFSI Companies 2017 and welcome your suggestions and feedback.

Kaushal Sampat
President & Managing Director - India
Dun & Bradstreet

I
 ECGC Diamond Jubilee Celebrations inaugurated
by the President, Shri Pranab Mukherjee
New Delhi, November 8, 2016: The
President, Shri Pranab Mukherjee
inaugurated the Diamond Jubilee
Celebrations of ECGC at Vigyan
Bhavan, New Delhi. The function
was presided by Smt. Nirmala
Sitharaman, Minister of State
(I/C) for Commerce and Industry,
Government of India while Smt.
Rita Teaotia, IAS, Commerce
Secretary, Government of India
and Shri Ajay Kumar Bhalla, IAS,
Director General of Foreign Trade,
Government of India, were the
guests of honour.
During the function, the President
Shri Pranab Mukherjee, unveiled
the Diamond Jubilee logo of ECGC
and the Minister of State (I/C) for
Commerce and Industry, released
the Diamond Jubilee Journal and
Stamp; the first copies of which
were presented to the President.
The Corporate Film which
highlighted the achievements of
ECGC and the role played by them
in Indias export promotion was
shown during the function.
The function was well attended
by a large number of bankers,
exporters, representatives of trade
bodies and prominent people
from the government, business
and trade.
Smt. Teaotia welcomed the guests
and outlined the crucial role played
by ECGC in promotion of exports
from India. She said that ECGC has
II
evolved to meet the need of the
changing times. The organization
has grown substantially over the
years and its premium income
had increased to ` 1300 crores. It
served 9000 exporters directly and
another 17000 exporters who are
financed by banks to whom ECGC
provides credit risk insurance.
The Minister of State (I/C) for
Commerce and Industry, Smt.
Nirmal Sitharaman, said that it
was a matter of great pride that
ECGC had grown to become one
of the worlds leading credit risk
insurance provider for exports and
trade related services and ranked
as the 5th largest credit insurer in
the world in short term business.
She emphasized the need for the
countrys export to grow and to
achieve that, the Indian exporters
would need to explore new markets
like Africa, Latin America and Far
East since exports to developed
economies have been at the same
level or declining during the past
couple of years. She also made a
case for extending greater support
so that it can play an even greater
role in promoting exports.
The President in his address
recalled the time when he was the
Minister of Commerce and said
that ECGC always had a record of
taking initiatives and launching
innovative products to meet the
needs of the export community.
He mentioned that in order to
give a major boost to exports,
the countrys exporters would
have to be more competitive. He
outlined the need for ECGC to
extend support to exporters who
are looking at these new markets,
even though there would be a
greater element of risk associated
with trade with some of these
countries.
Smt. Geetha Muralidhar,
Chairman-cum-Managing Director,
ECGC Ltd. profusely thanked
the Government, the Ministry of
Commerce, the Board of Directors,
past and present employees of
ECGC, all of whom have played an
important role in bringing it to the
stature that it enjoys today.
About ECGC
ECGC was established in 1957 as
Indias first organization to offer
Credit Risk Insurance to exporters.
Over the last six decades, ECGC
has weathered many a storm and
protected exporters in times of
geopolitical turmoil, economic
downturns and currency collapses.
The Corporation has earned an
international reputation and has
grown to become the fifth largest
Credit Risk Insurer in the world
in short term business. ECGCs
growth has been commendable;
its Total Business Covered has
grown from ` 75 crore in FY1966
to ` 2,70,000 crores in FY2016.
III
9:41 AM 100%
Foreword
Dun & Bradstreet India takes pleasure in announcing the launch of the ninth edition of
its premier publication Indias Leading BFSI Companies. Through this publication, Dun
& Bradstreet seeks to provide useful and comprehensive information about the leading
companies from the BFSI (banking, financial services, and insurance) sector. Additionally,
it also highlights the recent developments and key trends in the sector.

The BFSI sector plays a critical role in driving the countrys economy by providing a diverse
range of financial and allied services to the largely diversified demographic spectrum of
the country. Its importance in the socio-economic landscape is underscored by the fact
that this sector will require a skilled workforce of 1.6 million by the year 2022.

The recent demonetisation announcement has led to improved liquidity levels in the
financial sector, especially in the banking industry. The increased liquidity, in turn, is expected reduce the cost of funds.
Further, the impending reduction in cash transactions is also expected to result in a shift towards digital channels like
digital wallets, debit and credit cards and User Payment Interface for financial transactions. Accordingly, we are currently
witnessing a very dynamic environment in the BFSI sector in terms of innovation, high competition, consolidation, and
increasing use of alternative multiple channels to name a few.

In India, the market for the BFSI sector is still largely untapped. Digital technology, which has transformed the way
business is conducted across the world, is expected to be one of the major drivers for the growth of this sector in India as
well. A wide range of financial products are increasingly being sold and delivered using the electronic platform to millions
of customer in India. Greater use of digital technology is helping the BFSI sector to lower the cost of transaction and bring
higher efficiency and greater reach in the financial ecosystem. In the current scenario where the Government seeks to
reduce the economys dependence on cash, the increased focus on tech-adoption promises to take the BFSI sector on a
path of rapid growth.

Indias Leading BFSI Companies 2017 stands as a ready reckoner on the Indian BFSI sector. Dun & Bradstreet is extremely
optimistic about the progress of this sector and reiterates its commitment to continue tracking it to facilitate making
informed business decisions. I hope you will enjoy reading Indias Leading BFSI Companies 2017 and look forward to
your suggestions.

Preeta Misra
Director - Learning & Economic Insights Group
Dun & Bradstreet India

V
Executive Summary
Dun & Bradstreet, the worlds leading provider of business information, knowledge, and
insight, has been tracking the banking, financial services and insurance (BFSI) sector for the
past eight years through its publication titled Indias Leading BFSI Companies. The ninth
edition, in this series, Indias Leading BFSI Companies 2017 highlights the contribution
of key stakeholders of the BFSI sector across India and the growth of the sector. The
publication profiles the leading players of the BFSI sector with an annual total income of
` 250 million and above in FY16. Accordingly, the publication profiles 303 companies
comprising 88 banks, 119 non-banking financial companies, 53 insurance companies (life
and non-life), 24 asset management companies and 19 broking companies.

Following are some of the key highlights in this publication:

Credit growth of all scheduled commercial banks (SCBs) slowed down to 8.8% in
FY16 from 9.7% in FY15. Similarly, the deposit growth rate of all SCBs decelerated to 8.1% in FY16 as compared to
10.7% in FY15
The aggregate balance sheet of the NBFC sector increased by 15.5 % in FY16 on a y-o-y basis as compared to that of
15.7 % in March 2015
In FY16, the total premium income of the Indian life insurance industry stood at ` 3,669.4 bn, registering a growth
of 11.8% over the previous year
In FY16, the total direct premium underwritten by the non-life insurers in India stood at ` 963.8 bn as against ` 846.9
bn in FY15, registering a growth of 13.8%
In the mutual funds industry, the average assets under management (AAUM) crossed the ` 12 trillion mark at the
end of FY16

The BFSI sector is witnessing a very positive environment on the back of government reforms and high level application
of financial technology. The leading companies from the BFSI sector are expected to play a critical role in transforming
the nation into a digital economy. Dun & Bradstreet will continue to keep track of various developments in this sector to
make this publication a ready reference tool of the BFSI sector.

Naina R Acharya
Deputy Leader - Operations
Learning & Economic Insights Group
Dun & Bradstreet India

VII
VIII
URN No. SPON/2017-17/447
IX
Methodology
For the purpose of the publication, Indias Leading BFSI Companies 2017, the BFSI sector has been divided into the
following key segments banking i.e. scheduled commercial banks (SCBs) based on the RBI enumeration of SCBs as on
Mar 2016; companies providing financial services falling under NIC Codes 64, 65 & 66; asset management companies as
registered with Association of Mutual Funds in India (AMFI); and insurance companies that are registered with Insurance
Regulatory and Development Authority (IRDA), in accordance with the Insurance Act, 1938.

Adequate measures are undertaken, such as an advertisement in the All India edition of a prominent business daily,
to ensure that the publication covers most companies from the BFSI sector from across the country. In addition, emails
and social networking was also entailed for reaching out to Dun & Bradstreet Indias in-house database and companies
registered with the respective regulatory bodies and industry associations. To ensure that all the information contained
in this publication is verified and authenticated, companies that have not responded with financials statements, and/or
their information is not available in public domain are excluded. In addition, if the annual reports of companies are not
available to Dun & Bradstreet at the time of compiling this publication, then those companies have also been excluded.

As a basic selection criterion, companies with a standalone total income of ` 250 mn and above in FY16 are featured in
this publication. Further, subsidiaries and associate companies satisfying the eligibility criteria have also been featured.
We have also considered additional exclusion criteria of the corporate governance record (with a focus on NBFCs, FIs,
Financial Services & Broking Companies) and NBFCs whose certificate of registration was cancelled by RBI (as on 15 Dec
2016) while compiling this publication to arrive at the final list of Indias Leading BFSI Companies 2017. Audited financial
statements considered were for the period July 31, 2015 and June 30, 2016 have been used as the source of information
for this publication. The various financial computations are based on Dun & Bradstreets methodology and have been
explicitly explained in the Definitions and Calculations section. For companies where the published financial statement
is for a period other than 12 months, the financials are annualized for the sole purpose of shortlisting and profiling. In
general, all information used in the publication is from publically available sources. Financials of the companies have
been sourced from annual reports or financial statements or regulatory authorities (IRDA, RBI, and AMFI). In case of
certain subsidiaries, financials have been procured from annual reports of their respective parent companies.

Information pertaining to SCBs has been primarily sourced and compiled from RBI, annual reports (ARs) and websites of
banks. Information related to financials and infrastructure of the banks has been taken purely from various publications
provided by the RBI and pertains to March 2016.

The information pertaining to financial services companies, insurers and AMCs have been sourced and compiled from -
Questionnaires circulated and administered by Dun & Bradstreet India;
Data provided by the respective regulatory authority (IRDA and AMFI) through its websites and various
publications;
Data available from respective companies website and ARs/financial statements, draft red herring prospectuses;
Government of India websites such as Reserve Bank of India, Securities and Exchange Board of India, Economic
Survey etc.

The total income pertaining to insurance companies has been calculated by taking financials from the annual reports and
public disclosures of respective insurers. Other financial information pertaining to insurers has been taken from IRDAs
FY16 AR. The Quarter Ended AAUM pertaining to AMCs has been considered from AMFI while other financial information
is taken from their respective ARs/financial statements. The financial information for financial services companies, NBFCs,
FIs, broking companies have been taken from ARs/Financial Statements.

A standardized format has been used for reporting the information about the companies. The editorial team would
appreciate if readers would keep Dun & Bradstreet India regularly updated regarding any changes in their companies, as
and when it occurs. Each company featured in the publication has been allotted a unique identification number (D-UN-S
- Data Universal Numbering System). This will help readers locate and obtain full-fledged informative reports on these
companies from the Dun & Bradstreet India database.

The editorial team is confident that Indias Leading BFSI Companies 2017 will prove a useful reference tool for
information on the BFSI sector. We would be pleased to receive your invaluable feedback and suggestions, which we can
incorporate in the next edition.
XI
XII
Definitions & Calculations
Calculations
Total Advances = Bills purchased & discounted (Short term) + Cash credits, overdrafts & loans (Short term) + Term
loans

Total Deposits = Demand Deposits + Savings Bank Deposit + Term Deposits

Total Business = Total Deposits + Total Advances

Net Profit Margin (NPM) = Net Profit/Total Income*100

Total First Year Premiums (FYP) = FYP + Single Premiums

Total Income for Insurance companies = Premiums earned - net (policy holders account) + Income from Investments
(policy holders account) + other income (policy holders account) + income from investments (shareholders account)
+ other income and miscellaneous receipts (shareholders account)

Data Sources
Total Income for banks taken as per RBI and for other companies as per the ARs/Financial Statements/Public
Disclosures

Net Profit/Loss for banks taken as per RBI and for other companies as per the ARs (except for Insurance
companies)

Total Deposits, Total Advances, CRAR - Basel III and Net NPA/Net Advances Ratio for banks taken as per RBI

AAUM (Quarter Ended) of asset management companies taken from Association of Mutual Funds in India (AMFI)
as per data disclosed by the AMCs - (Excluding Fund of Funds - Domestic but including Fund of Funds Overseas) +
(Fund of Funds Domestic)

Net Premium Earned, AUM and Solvency Ratio of Life Insurance companies taken as per the data from ARs/Financial
Statements/Public Disclosures, FY16 AR of Insurance Regulatory and Development Authority

AUM, Solvency Ratio and Incurred Claims Ratio of Non-life insurance companies taken as per the data from FY16 AR
of Insurance Regulatory and Development Authority

Net Premiums Earned of Non-life insurance companies taken as per ARs/Financial Statements/Public Disclosures

XIII
Indian Banking Overview
Indian Economic Progress
The Indian economy is on the retrieval path, supported by sound government policies and structural reforms. It has played
a significant role in withstanding global uncertainties and dynamics of the rest of the world. During 2015, India continued
to depict a much smaller Current Account Deficit (CAD) as it experienced large foreign direct investments flows. In fact,
Indias CAD was at its lowest level in seven years in the quarter ended March 2016. The international reserves of India
have increased by USD 46.7 bn since Mar 2014 to USD 350.4 bn in Dec 2015. Despite better growth prospects, India still
faces the risk of high household inflation, fiscal deficits challenges along with risks of low investments flow, commodity
cycle reversals, weakness in corporate sector financial positions and deterioration in the bank asset quality.

Indias gross domestic product (GDP) stood at 7.6% in FY16 up from 7.2% in the preceding year. The government has
pegged the GDP growth rate at 7- 7.75 % for FY17. The up lift for FY17 is expected to come from strong domestic demand,
improvement in industrial activity, and an upturn in private investments, infrastructure development and overhaul of the
corporate sector and revival of public sector bank balance sheets.

Over the past seven years since the 2008-2009 global financial crisis, the Indian banking sector has depicted a distinct
performance. As per RBI, the Indian banking industry is sufficiently capitalized and well-regulated. The banking industry
consists of public, private, foreign, regional rural and co-operative banks . Nearly 80% of the market share is dominated
by public sector banks. Over the years, Indian private sector banks and foreign sector banks have exhibited improvements
in their profitability, asset quality, lower credit costs and healthy capital reserves. On the other hand, public sector banks
(PSBs) are facing decline in their earnings growth, reduction in profit margins, asset quality deterioration and increase in
credit costs.

Credit & Deposit Growth Continued to Remain Sluggish

The credit and deposit growth of all SCBs have significantly declined during FY16. This is largely contributed by the overall
subdued performance of the public sector banks. Credit growth of all SCBs slowed down to 8.8% in FY16 from 9.7% in
FY15. Similarly, the deposit growth rate of all SCBs decelerated to 8.1% in FY16 as compared to 10.7% in FY15. Private
and foreign sector banks outpaced public banks as the credit growth amongst the private and foreign sector stood at
24.6% and 11.8% respectively, whereas that of public sector banks displayed a marginal growth of 4% as of March 2016.
Deposit growth amongst private and foreign sector banks were marked at 17.3% and 13.3%, public sector banks showed
a growth of merely 5.2% for FY16.

XVIII
 Trends in Credit and Deposit Growth (y-o-y in %)

20

15

(in %)
10

0
FY12 FY13 FY14 FY15 FY16

Bank Credit growth Aggregate Deposits Growth

Source: RBI data and Dun & Bradstreet Research

Capital to Risk Weighted Asset Ratio for all SCBs improve in FY16
The capital to risk weighted assets ratio (CRAR) of all SCBs marginally increased to 13.2% in FY6 from that of 12.9% in
FY15. Across the bank groups, the public sector and the private sector indicate a slight increase in their CRAR and stood
at 11.6% and 15.7% respectively as of March 2016. However foreign sector banks are strengthening their capital base
cover and balance sheets and displayed a comparatively better CRAR ratio of 16.5% over the previous year. Overall, SCBs
managed their Tier-1 leverage ratio and remained unchanged at 6.8% during FY16.

Capital to Risk Weighted Assets Ratio (in %) Leverage Ratio

25 12
9.9
20 10 8.9
15.7 16.5
8 6.8
15 13.2
11.6 6 5.5
10
4
5
2

0 0
Public Sector Banks Private Sector Banks Foreign Banks All SCBs Public Sector Banks Private Sector Banks Foreign Banks All SCBs

FY14 FY15 FY16 FY14 FY15 FY16

Source: RBI data and Dun & Bradstreet Research

Asset quality of all SCBs Continued to Deteriorate in FY16

The gross non-performing advances (GNPAs) of public sector banks continued to display the highest level of stressed
advances ratio at 14.5 %, compared to private and foreign sector banks that recorded stressed advances ratio at 4.5 %.
The GNPAs of all SCBs sharply increased to 7.6% as of March 2016 compared to 4.6% in FY15. The restructured standard
advances ratio declined considerably to 3.9% as compared to 6.4% in FY15 for all SCBs. GNPAs largely contributed to the
increase in the overall stressed advance ratio to 11.5% for FY16 from 10.9 in FY15. Looking at the y-o-y growth of GNPAs
there has been a significant rise across public, private and foreign sector banks in FY16. This is reflected in the sharp 79.7%
increase in GNPAs of SCBs during FY16.

XIX
GNPA and Restructured Standard Advances to Total Advances GNPA growth (y-o-y in %)

16 90

14 80
70
12 4.9
60
10 50
3.9
(in%)

8 40
30
6
9.6 0.3 20
4 1.8 7.6 10
2 4.2 0
2.7
-10 FY13 FY14 FY15 FY16
0
Public Sector Bank Private Sector Banks Foreign Sector Banks All SCBs -20

Restructured standard advances to total advances GNPA to total advances Public Sector Bank Private Sector Bank Foreign Banks All SCBs

Source: RBI data and Dun & Bradstreet Research

Amongst the major sectors, the industrial sector showed a steep rise in the GNPA ratio at 11.9%, followed by agriculture,
services and retail sectors with GNPA ratio as 6.0%, 5.8% and 1.8% respectively during FY16.

Asset quality in major sectors (y-o-y growth %)

15

11.9

10
(in%)

6.0 5.8

1.8

0
Agriculture Industries Services Retail

FY13 FY14 FY15 FY16

Source: RBI data and Dun & Bradstreet Research

Profitability
Due to enforcement of balance sheet cleaning activities like risk provisions and write-offs, return on assets (RoA) declined
sharply to 0.4% in FY16 from 0.8% in FY15. On similar lines, return on equity reduced to 4.8% in FY16 from 9.3% in
FY15.

XX
 Trend in Return on Assets (RoA) and Return on Equity (RoE)

1 14
0.9
12
0.8
0.7 10
0.6 8

ROA (%)

ROE (%)
0.5
0.4 6

0.3 4
0.2
2
0.1
0 0
FY13 FY14 FY15 FY16

RoA RoE (RHS)

Source: RBI data and Dun & Bradstreet Research

Factors Shaping the Indian Banking Industry

Untapped Opportunity size of Indian market for financial services

With a population base of ~ 1.3 billion, with ~50% being in the 15-25 age bracket, India is a huge and growing market for
financial services. (Source: Census India). Financial Inclusion is the key catalyst for the next phase of growth in the banking
sector. It aims at a widespread of financial services to those people and enterprises that still do not have any access to
financial sector services. The objective is to promote financial literacy and consumer protection amongst the masses
so that they can take correct financial decisions as this will also help in overall economic progress of the country. India
possesses immense opportunity for the growth of financial inclusion as the percentage of banking population accounts for
only 53.1% as compared to 93.6% in the United States and 98.8% in Germany for 2015. The proportion of adult population
with individual bank accounts has gone up from 35% in 2011 to 53% in 2015.

XXI
Growth in number of ATMs and offices across different regions in India
Banks are increasingly adding more number of ATMs and branches in the rural, semi-urban areas with the aim for inclusive
growth. The total number of ATMs in India has grown from 181,252 in FY15 to 198,952 in FY16 reflecting an approximately
10% growth. As of Mar 2016, ATMs of all SCBs in rural and semi urban areas accounted for 44% of the total ATMS in the
country. Looking at the CAGR of the ATMs from 2011-2016, rural areas have witnessed maximum growth of 37% followed
by semi-urban areas with 24%, the overall CAGR of all SCBs in India stood at 22%.

ATM network by area as on end of March, 2016

40

35 31.8

30

25
CAGR (%)

18.7
20
15.8
15 13.2
9.9
10

0
Metro Urban Semi-Urban Rural Total

Source: RBI data and Dun & Bradstreet Research

The total number of bank offices in India has grown to 132,574 in FY16 compared to 125,863 in FY15. The overall bank
branches grew by 5.3% in FY16, with rural areas accounting for the largest share at 38%.

Functioning Bank Branches as at the end of March, 2016.

8.0 7.3
7.1
7.0 6.7
6.0
6.0
5.2
5.0
CAGR (%)

4.0

3.0

2.0

1.0

0.0
Metro Urban Semi-Urban Rural Total

Source: RBI data and Dun & Bradstreet Research

Role of Regulators and the Government - Emergence of Differentiated Banking

The Government and regulators play a pivotal role in providing an enabling environment for sustainable growth of
the financial sector. The Indian Governments policy around the financial sector is the focus on financial inclusion. The
government has undertaken various initiatives to push financial inclusion, this includes setting up of 25% bank branches
in unbanked areas, driving Banking for all by 2018 initiative under Pradhan Mantri Jan Dhan Yojana (PMJDY) and granting
loans to small business under Micro Units Development & Refinance Agency Ltd (MUDRA) scheme amongst others. Two
years back, the government had launched Pradhan Mantri Jan Dhan Yojna (PMJDY), the biggest financial inclusion initiative
in the world.

XXII
Accounts opened under Pradhan Mantri Jan Dhan Yojana (PMJDY) as on 17th August, 2016.
in mn
No of
No of Rupay Accounts
Sectors Rural Urban Total
Debit Card With Zero
Balance
Public Banks 105.2 82.7 187.9 152.1 46.3
Private Banks 5.1 3.3 8.4 7.8 3.1
Total 110.3 86.0 196.3 159.9 49.4
Source: PMJDY report 17th August, 2016

In order to expedite the penetration of financial services in the unbanked regions of India, RBI has created a framework
for licensing payment banks/small banks and differentiated banks. These local area banks, payment banks and small
banks are expected to meet credit and remittance requirement of the small businesses, unorganized sector, low income
households, farmers and migrant workforce. During FY16, in all, 23 new banking licenses were granted which included
two universal banks, 11 payment banks and 10 small finance banks. The two universal banks have started their operation
during 2015; amongst the small finance banks, Capital Local Area Bank has commenced its operations in April 2016 and
others are likely to start their business by Sep 2016.

Role of Technology Digital Banking

The last few years have witnessed a transition of banking from a predominantly traditional business to more of a customer
focused one. An efficient payment system can be envisaged as the lubricant which speeds up liquidity flow in the economy,
thereby creating necessary impetus for economic growth. Customer involvement through the most relevant channels
has become of key importance for maximizing customer value and creating newer and more innovative revenue streams
for banks. Although some concerns regarding the health of the Indian banking sector prevail, there is a widespread of
optimism in the Indian economy. Taking advantage of digital technology and leveraging its potential to transform the
banking sector is catching the attention of banking sector leaders. There are enormous opportunities present in the form
of internet banking, mobile banking, mobile wallets, cloud computing, information security, and virtualization amongst
others, in order to make financial infrastructure smarter, safer and faster. With the new governments vision for digital
India, regulatory moves have positioned Indian banking for digital transformation.

Volume (Million)
Prepaid Payment
Retail Electronic Instruments
Cards (debit,
Year RTGS Clearing (m-Wallets, PPI Mobile Banking
Credit)
(ECS,NEFT,IMPS) cards, Paper
Vouchers)
2015-16 98.4 3,141.5 10,038.7 748.0 389.5
2014-15 92.8 1,687.4 8,424.0 314.5 171.9
2013-14 81.1 1,108.3 7,219.1 133.6 94.7
2012-13 68.5 694.1 6,174.5 66.9 53.3
2011-12 55.1 512.4 5,731.6 30.6 25.6
Source: RBI data and Dun & Bradstreet Research

Advent of FinTech Ecosystem

The Indian banking industry has embarked upon its digital journey and is catching up quickly with its global peers in terms
of technology adoption. In recent years, the phrase FinTech has gained a lot of buzz in the Indian financial services sector,
media, start-ups and entrepreneurial circles. FinTech are technology based companies that enable and/or collaborate with
financial institutions to create highly integrated ecosystems that infuse expertise, rich experience, advanced technology
to make existing financial systems more efficient and effective. The advent of the FinTech ecosystem in the Indian banking
sector has begun to transform the lives of millions; therefore integrating FinTech in the Indian banking architecture has
become a top priority for the banks.

XXIII
Some of the new age fintech technologies include following services:-
1) E-Wallets/ M-wallets
As internet and mobile banking are revolutionizing the banking industry, mobile wallets that hold
money digitally have brought about changes in the mode of transactions being carried out in the
country. Prepaid Payment Instruments (PPIs) including e-Wallets/ m-Wallets serve as a mode of
online payment system, where a registered customer can pre-load a certain amount of money with
any service provider, which can be used for various bill payments, movie tickets and recharges,
etc.
2) Biometrics
The transition from physical money to e-money has also led to the emergence of safer and risk free
management processes. Biometric technologies analyze unique biological traits that differentiate
one human being from another, such as fingerprints, the retina or iris or the pattern of an individuals
voice. Few banks in India have installed ATMs that require customer finger print (biometric) instead
of debit/credit card & PIN to dispense cash. Adoption of biometrics into the security infrastructure
of the banks would safeguard customers from such unforeseen incidents in future.
3) Unified Payment Interface
Moving towards the goal of attaining Cashless Economy, RBI has partnered with National Payments
Corporation of India (NPCI) and launched Unified Payment Interface (UPI) on 26th Aug, 2016. It is a
mobile payment solution, where customers can instantly transfer funds to different bank accounts
without having to share sensitive information like bank account numbers during the transaction.
Currently, 21 banks have joined the new payment solution. More banks are expected to join UPI
app platform.

XXIV
4) Peer 2 Peer Lending
P2P lending is a form of crowd funding activity where small amounts of money are raised through a
large number of people. It will serve as an online platform that matches lenders with the borrowers
in order to provide unsecured loans. A fee is charged to both the parties and the fee collected is
for services provided like collecting loan repayment and doing preliminary assessment on the
trustworthiness of the borrower. During 2015, there were around 20 online P2P lending companies
and approximately 30 start-ups in the space of P2P lending in India.
5) Bitcoin
Bitcoin is a type of virtual currency in which crypto technology is used to regulate generation and
management of units of currency. Being a decentralized currency, the fund transfers promise
opportunities in reducing cost and fasten the speed of transactions.
6) Blockchain
Blockchain is a distributed ledger technology (DLT) where all bitcoin transactions executed are
registered. It thus provides insights about facts like how much value belonged to a particular
address at any point in the past.

XXV
Non-Banking Financial Companies
The Non-Banking Financial companies (NBFCs) sector forms an integral part of the Indian financial system. The sector
plays a vital role in Indias economic growth and development. It aids in boosting Financial Inclusion initiative by lending
services to the unbanked population in rural/ semi-rural or few urban areas, also provide services to the Micro, Small and
Medium Enterprises (MSMEs) segment. They provide product and services such as personal loans, housing loan, gold loan,
insurance and loan for purchasing commercial vehicles, machinery, and farm equipment amongst others. NBFCs ability
to understand their customer profile, their credit portfolio and deliver on customised products and services makes them
as one of the fastest growing sectors providing innovation in financial products.

Although, few of the products and services provided by NBFCs are similar to those of banks, NBFCs are still at a disadvantage
in comparison. As they work under certain regulatory constraints which restrict their business portfolio. In the time, when
now all banks are forced to clean up their balance sheets especially in terms of lending activities, the role of NBFCs becomes
more important as the push towards entrepreneurship is increasing creating further job opportunities.

Thus, there is a need for uniform regulations, practices and level playing field for NBFCs in India. In order to capitalise
on their full potential with greater efficiency there is need to address the framework of this sector in order to meet ever
growing financing need of the economy.

NBFCs are rapidly gaining importance as financial intermediary in the retail finance. Their contribution to the economy
has significantly improved standing at 13% as on FY15. The growth is driven not only by the traditional NBFC products
like commercial vehicle financing but also in the areas of loans financing like personal and housing etc. The success of
the sector is attributed to the cost efficiency, bad debt control, customised products and better customer services. Along
with on-going stress in the public sector banks due to mounting debts, the lending potential of the banks are going to
deteriorate further, thereby providing opportunity for NBFCs to increase their reach.

XXVIII
The number of NBFCs registered with the RBI continues to decline -
The total number of NBFCs registered with RBI is witnessing marginal decline ~3% over the years. As of March 31, 2016,
there were 11,682 NBFCs whereas in Mar 2015 the count was 11,842 as compared to that in Mar 2014 number of NBFCs
was 12,029. The decline in the numbers is the result of consolidation in the sector and largely because of cancellation
of Certificates of Registration (CoR). As on Jan 01, 2017 there were 2,903 list of NBFCs cancelled with RBI. Of the 11,682
NBFCs, 202 are deposit accepting in nature (NBFC-D) and 11,480 are non-deposit accepting NBFCs (NBFCs ND). There
are 220 systematically important non deposit accepting NBFCs (NBFCs-ND-SI).

Category As on Sep 31, 2016 As on March 31, 2016 As on March 31, 2015 As on March 31, 2014
NBFCs 11,555 11,682 11,842 12,029
NBFCs-D 188 202 220 241
NBFCs-ND 11,367 11,480 11,622 11,788
NBFCs-ND-SI 220 220 200 NA

Ownership pattern of NBFCs (No. of Companies)

NBFCs are broadly classified under categories based on their liability structure deposit taking (NBFC-D), Non-deposit
taking (NBFC-ND) and systematically important non-deposit taking (NBFC-ND-SI) which are subjected to stringent norms
and provisioning requirements. Following is the ownership pattern of NBFC-D and NBFC-ND-SI

2015 2016 2015 2016

Ownership
NBFCs-D NBFCs-D NBFCs-ND-SI NBFCs-ND-SI
Government Companies 7 5 10 16
Non-Government Companies 211 194 190 193
Public limited Companies 209 188 105 105
Private Limited Companies 2 6 85 88
Total No. of Companies 220 199 200 209

Financial Performance of the NBFC sector

The financial performance of the NBFC sector has remained largely unchanged for past two years. The aggregate balance
sheet of the sector is expanded by 15.5 % in FY16 on a y-o-y basis as compared to that of 15.7 % in March 2015. NBFCs
as a sector managed to maintain its borrowings levels, as the total borrowings increased by 15.3% in FY16 as compared
to that of 16.9% in FY15. Whereas, loans and advances increased by 16.6% in FY16 from growth of 17.1% in FY15. Net
profit as a percentage to total income displayed similar performance at 18.3% for FY16 as well as FY15. Return on Assets
(RoA) also showed similar performance of 2.2% for both FY15 and FY16. Return on Equity (RoE) increased marginally to
10.6% in FY16 from 10.3% in FY15.

Consolidated Balance Sheet of NBFC sector (YoY growth in %)

Particulars Mar 31, 2015 Mar 31, 2016

Total Borrowings 16.9 15.3
Current Liabilities & provisions 4.1 31.8
Loans & Advances 17.1 16.6
Investments 11.5 10.8
Total Income 15.3 15.8
Total Expenditure 15.5 15.8
Net Profit 15.0 15.6

Balance sheet performance of NBFCs-D

NBFCs-D regulations are tightened so as to allow only sound and well-functioning companies accept public deposits. The
balance sheet expanded by 29.2 % in FY16. Loans & advances, which account for 90% of the asset side registered significant
growth of 33.1% increased to 2,117 bn from 1,590 bn in FY15. Investment activities also rose by 24% from 69 bn to 85 bn

XXIX
in FY16. Banks are the major source of funds for NBFCs-D increased to 659 bn approx. 19.3% growth from 552 bn in FY15.
Debentures being the second major source of funding, witnessed a hike of 38.6% during FY16 grew from 389 bn to 539
bn in FY16. Total income recorded a growth of 26.8% over FY15.

Balance sheet performance of NBFCs-ND-SI

The balance sheet of NBFCs-ND-SI grew by 10.6% in FY16. Loans & Advances grew by 12.5% from 9,516 bn to 10,709 bn
over FY15. Total borrowings grew by 9.8% from 9,411 to 10,335 in FY16. During FY16, funds were mainly raised through
debentures, borrowings from banks and commercial papers. Investments displayed marginal growth of 0.5% in FY16.

Asset quality & capital Adequacy

The NBFC sector registered a credit growth of 15.5% in FY16. The quality of assets of the sector continued to deteriorate
since 2012. However, the NPAs of NBFCs are lower than that of the banks.

Gross NPA to Gross Advances Ratio

9 8.4
8
7
6
Percentage

4.8
5 4.5
3.9 4.1
4 3.8
3.1 3.3
2.9 3.2
3
2
1
0
2012 2013 2014 2015 2016

NBFCs Banks

Source: RBI, Dun and Bradstreet Research

The CRAR of the NBFC sector for FY16 remained well above the regulatory guidelines having minimum requirement of
15% of their risk weighted assets. GNPAs of the NBFC sector for FY16 as a percentage of total advances stood at 4.5%
from that of 5.1% in Sep15. NNPAs as a percentage of total advances displayed similar performance for FY15 & FY16 and
stood at 2.5%.

Asset Quality (In %)

9
8
7
6
5
4
3
2
1
0
Mar-13 Sep-13 Mar-14 Sep-14 Mar-15 Sep-15 Mar-16 Sep-16

Asset Quality (in %) NNPA to Total Advances

Asset Quality (in %) GNPA to Total Advances

XXX
Exposure to NBFCs
The three most dominant sectors in the Indian financial system are Schedule Commercial Banks (SCBs) followed by Insurance
companies and Asset Management Companies (AMCs Mutual Funds). These three sectors constitute to more than 80%
of the financial system. While SCBs were the largest gross receivers of the funds, NBFCs were the largest net receivers of
the funds from rest of the financial system as of March 31, 2016.

Exposure of SCBs, AMC-MFs and insurance companies to NBFCs.

Particulars Mar 31, 2012 Mar 31, 2013 Mar 31, 2014 Mar 31, 2015 Mar 31, 2016
SCBs 1,513 1,453 1,516 1,595 2,029
AMC MFs 425 624 756 1008 1,489
Insurance Companies 780 880 965 1080 1,038

NBFC Account Aggregator

As all the financial assets of the individuals like bank deposits, mutual funds, fixed deposits and insurance policies etc.,
are held under purview of different financial regulators, entities get a distributed view of their financial assets. For this
purpose, NBFC Account Aggregator will provide consolidated information of all the accounts held by the customer in
organised manner. The draft was issued by RBI in March 2016.

Following are the guidelines for the business of the account aggregator
It will not support any transactions in financial assets by the customer.
It will not undertake any business other than that of account aggregation.
Pricing of the services will be as per board approved policy.
Proper documentation of agreements/ authorisation will be ensured between the aggregator, customer and financial service provider.
The information will only be shared with the customer or any other person authorised by the customer.
Terms and conditions of the license will be applicable for customer protection, grievance, redressal, data security, audit control, corporate
governance and risk management.

Regulatory requirements for the NBFC sector

The NBFC sector plays a significant role in our financial system as it mirrors few of the banking operations which are critical
in bearing the financial stability of the country. According to the Department of Non-Banking Regulation (DNBR) 2015-16,
the aim of the DNBR was harmonisation of the regulation across NBFCs and banks in order to stream line the processes.
During the year, few of the steps undertaken include early recognition of financial stress; speedy moves for resolution and
recovery for lenders; guidelines in formulation of Joint Lenders Forum (JLF) and corrective action plan (CAP); assessing risk
weights assigned to exposures to central/ state government/s and claims guaranteed by state government; refinancing
of project loans; strategic debt restructuring; risk weights to investments in the corporate bonds. The process for issuing
CoR was also simplified and rationalised; documents to be submitted were reduced from 45 to eight. Further, NBFCs were
divided into two groups Type I & II, the type I NBFC does not accept public funds and do not have customer interface.

Conclusion
New age digital customers and rapid technological innovations have changed the face of businesses are conducted today.
To have competitive advantage NBFCs need to leverage on the new avenues of customer interaction. In order to deliver
differentiated customer experience, NBFCs can leverage on partnerships with other companies. Use of technologies like
big data analytics, can help create synergies between the product customer requirement, analyse customer portfolio
etc. Social media engagement, this helps to attract larger customer base, proactive end to end visibility to customer, faster
leads generation etc.

Going forward, with the governments initiatives like Make in India, Start up India, Digital India amongst others is
expected to boost development in India. NBFCs are likely to benefit from underlying trends and developments in the
Indian market. As the traditional banks already under stress; NBFCs would be of vital importance and can fill the necessary
credit demand gap. The NBFCs therefore need to be well integrated in the financial system to match the growing needs
of the economy. Furthermore, the Indian consumer is increasingly adapting to the digital technology in day to day life.
Thus, NBFCs need to rethink on their strategies to enhance their product portfolio, process and customer experience.
Additionally, they need to leverage on digital data for better credit decisions and social media to serve customers better
etc. We hope that the forthcoming changes will further strengthen the robustness of the NBFC sector.

XXXI
Global Securities Market
The global macro-economic factors play a vital role in determining the path of the securities market across all the countries.
In the current extremely interconnected world, the butterfly effect is visible every day. The performances of stock markets
are heavily interlinked to the performances of the listed companies and business expectations which are in turn linked to
the economy. Therefore, it is vital to take look at the outlook for the major economic regions to understand and predict
the performance of stock markets.

The real GDP growth of the world in 2016 is estimated to be 2.3%, compared to 2.7% in 2014 and 2015 (World Bank). 2016
witnessed a series of high intensity events in different regions that had an adverse impact across the globe. Uncertainty
over the health of leading European banks, low oil price, Brexit, political instability, slowdown in China, and slow pace
of US recovery are some of the major events that had a negative impact on businesses. The dark shadows of the great
recession in 2008 and 2009 are yet to be fully lifted and are expected to linger in 2017 as well. However, the growth in
2017 is expected to come from government programs and monetary policies aimed to increase the aggregate demand.
Therefore, the performances of stock exchanges worldwide are expected to be mildly positive.

The outlook on major economic regions are provided below:

Outlook 2017

USA
The new administration in US is expected to usher in new changes aimed to boost the economy at the earliest. The major
expected fiscal stimulus measures, reduction in tax rate, restructuring tax rate, and increase in infrastructure spending.
These measures are aimed to increase the income of its citizens and incentivize American companies to manufacture
locally. This development would also aid in the much needed creation of jobs. Therefore, the outlook on US is mildly
favorable.

EUROZONE
In June 2014, the ECB adopted negative interest rates, becoming worlds first major central bank to take such a measure.
The introduction of negative interest rates is a monetary policy tool aimed increasing the aggregate demand by reducing
the cost of borrowing. The continuation of this monetary policy has not yielded the desired growth expected in the region.
This can be attributed to the lack of optimistic outlook held by businesses and weak consumer demand.

In March 2015, the Quantitative Easing (QE) program undertaken by the ECB to increase money supply. In December
2016, the ECB announced that it would be curtail its QE post March 2017 to 60 million euros from the current 80 million
euros per month till December 2017. The QE program was unsuccessful in achieving its desired growth and inflation
target objectives.

In addition to the unsuccessful results/less than desired results from the monetary policies undertaken by ECB, weak
demand, high unemployment, and terrorism continue to plague the European region. Therefore, the region is expected
to have a less favorable outlook.

XXXIV
UK

US Dollar per 1 British Pound Graph

Feb 2016 June 2016 Dec 2016

Source: X-Rates

UKs decision to exit the European Union in June 2016 is expected to witness adverse effects in 2017. Declines in FDI and
loss of tariff free access to the EU market are expected to weigh heavily on the UK economy. These developments are
expected to trigger a further currency devaluation of the sterling which would raise the price of imports and hurt consumers
in the form of higher prices. This would hurt the GDP of UK as 65% of its GDP basket is comprised of consumer spending.
Therefore, UK is expected to register mild growth in 2017.

ASIA
The process of excess credit creation and over leveraging has deeply hurt the Asian economies. In June 2016, Chinas total
debt was registered at 250% of GDP (Guardian) and for the same period the Indian governments debt was registered at
~70% of GDP (Fitch Ratings). Japan, Singapore, South Korea, Malaysia, and Hong Kong are some of other Asian countries
with high debt. This development has put immense pressure on these countries to service debt and it increases their
country risk. Thus, reducing their attractiveness to foreign investors and attracting new capital. However, high consumer
demand, increasing purchasing power, positive sentiments, and introduction of government schemes aimed to boost
aggregate demand are major growth drivers form the region. Therefore, 2017 Asian outlook is moderately favorable.

US based NYSE continued to dominate its leadership in terms of market capitalization amongst stock exchanges

Top 15 Exchanges in terms of market capitalization in 2014 and 2015

Rank Exchange 2015 2014

1 NYSE 17,787 19,351
2 Nasdaq - US 7,281 6,979
3 Japan Exchange Group 4,895 4,378
4 Shanghai Stock Exchange 4,549 3,933
5 Shenzhen Stock Exchange 3,639 2,072
6 Euronext 3,306 3,319
7 Hong Kong Exchanges and Clearing 3,185 3,233
8 Deutsche Brse AG 1,716 1,739
9 TMX Group 1,592 2,094
10 SIX Swiss Exchange 1,519 1,495
11 BSE India Limited 1,516 1,558
12 National Stock Exchange of India Limited 1,485 1,521
13 Nasdaq Nordic Exchanges 1,268 1,197
14 Korea Exchange 1,231 1,213
15 Australian Securities Exchange 1,187 1,289
Source: World Federation of Exchanges
Note: Market Capitalization figures provided above are denoted in USD billion

XXXV
In terms of market capitalization, stock exchanges from the US continued to dominate the list followed by stock exchanges
from Japan and China. NYSE and NASDAQ collectively accounted for 39.1% of the global market capitalization of stock
exchanges. The dominance of the American exchanges can be attributed to the long existence of these exchange houses,
large number of companies listed in them, increasing number of foreign companies getting listed in them, and strong
global interest in securities in these exchanges.

The top 15 exchanges collectively account for ~87.5% of the global market capitalization. Indian exchanges BSE India
Limited and National Stock Exchange of India Limited ranked 11 and 12 respectively.

Indias BSE India Limited houses the highest number of companies globally

Top 10 exchanges with the highest number of listed companies in 2015

Rank Exchanges Country No.of Companies

1 BSE India Limited India 5,836
2 BME Spanish Exchanges Spain 3,651
3 TMX Group Canada 3,559
4 Japan Exchange Group Japan 3,513
5 Nasdaq - US US 2,859
6 Intercontinental Exchange Inc. | NYSE US 2,424
7 Australian Securities Exchange AUS 2,108
8 Korea Exchange Korea 1,961
9 Hong Kong Exchanges and Clearing HKG 1,866
10 National Stock Exchange of India Limited India 1,794
Source: World Federation of Exchanges

In terms of the volume of listed companies, the top 10 exchanges house 29,571 companies commanding ~64.7% of the
global volume in 2015. The highest number of listed companies were registered with BSE India Limited (5836), followed
by BME Spanish Exchanges (3,651), and TMX Group (3,559). The other Indian exchange house National Stock Exchange
of India Limited ranked 10th having 1,794 companies registered.

American exchanges NYSE and NASDAQ have 2,424 and 2,859 companies respectively. In comparison the BSE India Limited
houses almost double the number the number of companies listed in these American exchanges individually. However, the
market capitalization of BSE is 8.5% of NYSE and 20.8% of NASDAQ. The stark difference in market capitalization to number
of companies of these exchanges brings to light the higher value of securities traded in the American stock exchanges.

The Americas region continues to dominate the global market capitalization

Equity market capitalization by Region

H2 2015 H1 2016 Growth

Americas 27,943 29,143 4.3%
Asia Pacific 24,574 23,250 -5.4%
EMEA 15,510 14,829 -4.4%
Total 68,028 67,223 -1.2%
Source: World Federation of Exchanges
Note: Market Capitalization figures provided above are denoted in USD billion
H1: January-June, H2: July-December

The Americas region continued to dominate the global market capitalization scenario. The dominance can be attributed
to the presence of three of the worlds largest stock exchanges in the region, NYSE, NASDAQ, and TMX Group. Collectively
these exchanges house 8,842 companies and have a combined market capitalization of USD 26.7 trillion in 2015.

The de growth registered in the Asia Pacific region and globally can be attributed to the slowdown in trading activity in
the Asia Pacific region. In early 2016, the Chinese stock markets faced major hiccups as their circuit breakers kicked in the
early hours halting trading for long periods. In addition, the devaluation of yuan and increase in government control has
continued to hurt the market performance.

XXXVI
 Domestic Securities Market
Current Scenario of Indian Securities Market
FY16 was not a very good year for the global economy. The economic slowdown in China, the European crisis, weak global
trade and prospects of an interest rate hike by the Federal Reserve led to risk concerns and volatility, thereby weighing
down on economic growth. Consequently, emerging economies were impacted by these global cues. Likewise, the Indian
equity markets also remained largely subdued during the year, having been influenced by reactions to weak quarterly
earnings, falling crude prices and mounting non-performing assets (NPAs) of banks.

In FY16, the primary securities market showed decent growth, as reflected in the healthy rise in resource mobilisation
by the corporate sector. Resources raised via private placement of debt were at record levels during the year. Funds
raised through preferential allotments doubled as compared y-o-y. IPOs that opened during the year also received an
overwhelming response. On the other hand, the secondary markets - the equity and foreign exchange markets in particular
- were most affected by global spill-overs and fluctuations in global financial asset prices and portfolio flows. The global
commodity slump forced Foreign Institutional Investors (FIIs) to reduce exposure to emerging markets, resulting in the
portfolio investments by FIIs reflecting net outflows for the first time since FY09. Nevertheless, India is still considered
to be a bright spot among its emerging market peers, with the International Monetary Fund (IMF) and the World Bank
having been appreciative of Indias growth story.

I. Primary Market Trends

Overall resource mobilisation by corporates rises by 20.8% in FY16

In FY16, the cumulative value of overall resource mobilisation by the Indian corporate sector (public & rights issues, QIP,
preferential allotments and private placement of corporate debt all taken together) stood at ` 5,807.5 bn. This translates
into a 20.8% growth as compared to a year ago.

Resource mobilisation through public and rights issues more than doubles in FY16
During the year, 108 companies accessed the primary market and raised ` 581.7 bn via 95 public and 13 rights issues.
The funds raised thus were more than twice the ` 192 bn raised in FY15 by 88 companies through 70 public and 18 rights
issues in FY15.

XXXVII
The cumulative resource mobilisation in equities (public and rights issues) in FY16 stood at ` 240.6 bn from 87 issues. This
was more than twice the ` 97.9 bn raised in FY15 via 64 issues.

Of the total resource mobilisation comprising equity and debt, the share of public issues increased to 84.1% in FY16 from
64.8% in FY15. On the other hand, the share of rights issues contracted to 15.9% from 35.2% in FY15. The share of debt
issues in the aforementioned component of resource mobilisation stood at 58.6%.

Resource Mobilisation (all amounts in ` bn)

FY12 FY13 FY14 FY15 FY16

Particulars
Nos Amt Nos Amt Nos Amt Nos Amt Nos Amt

1. Public Issues (i+ii) 55 461.1 53 235.1 75 510.8 70 124.5 95 489.3

i. Public Issues (Equity/PCD/FCD) 35 104.8 33 65.3 40 86.9 46 30.4 74 148.2

IPOs 34 59.0 33 65.3 38 12.4 46 30.4 74 148.2

of which through SME platform 0 0.0 24 2.4 37 3.2 39 2.8 50 3.8

FPOs 1 45.8 0 0.0 2 74.6 0 0.0 0 0.0

ii. Public Issues (Bond / NCD) 20 356.1 20 169.8 35 423.8 24 94.1 21 341.1

2. Rights Issue 16 23.8 16 89.5 15 45.8 18 67.5 13 92.4

Total Equity Issues (1(i) + 2) 51 128.6 49 154.8 55 132.7 64 97.9 87 240.6

A. Total Equity & Bond (1+2) 71 484.9 69 324.6 90 556.5 88 192.0 108 581.7

B. QIP 16 21.6 45 160.0 17 136.6 51 291.0 24 145.9

C. Preferential Allotments 311 257.1 420 469.4 411 464.6 419 282.6 333 499.2

D. Private Placement of Corporate Debt 1,953 2,612.8 2,489 3,614.6 1,924 2,760.5 2,611 4,041.4 2,975 4,580.7

Total (A + B + C + D) 3,376.4 4,568.6 3,918.3 4,807.0 5,807.5

Source: SEBI, Dun & Bradstreet Research

IPOs receive overwhelming response in FY16

FY16 witnessed 74 IPOs to raise ` 148.2 bn, as against merely 46 to raise ` 30.4 bn in FY15. Of these 74 IPOs, 50 were
listed on the SME platform. The non-SME IPOs that opened during the year received a massive response. Of the 24 such
IPOs that were issued during the year, seven were oversubscribed more than 20 times, three were oversubscribed 30-40
times, while one was oversubscribed a whopping 70-80 times.

In FY13, SEBI had permitted the setting up of separate dedicated platforms for the listing and trading of SME securities,
in order to provide an impetus to the SME sector. Although the quantum of capital raised through the SME platforms is
still minuscule, the number of issues has been steadily increasing.

Private placement accounts for 78.9% of overall resource mobilisation in FY16

In FY16, the private placement of corporate debt accounted for a whopping 78.9% of the overall resource mobilisation by
Indian corporates (equity, bonds, QIP, preferential allotments and private placement of corporate debt taken together).
The funds raised by private placement increased by 13.3% during the year to an all-time high of ` 4,580.7 bn. In terms of
numbers, 2,975 issuances were made in FY16 as compared to 2,611 in the preceding year. Private placement of corporate
bonds is a mode of resource mobilisation that has been increasingly used by corporate entities in recent years. These funds
are raised mainly for expansion of business plans and to support working capital requirements.

XXXVIII
Resource mobilisation through preferential allotment jumps 76.6%
In FY16, the number of preferential issues decreased to 333 from 419 a year ago. However, the quantum of resources
mobilised through this mode jumped from ` 282.6 bn in FY15 to ` 499.2 bn, which translates to a sharp 76.6% rise.

Resource mobilisation through QIP halves in FY16

In FY16, the resource mobilisation through the qualified institutional placement (QIP) mode halved as compared to the
preceding year. Corporates raised ` 145.9 bn via 24 issues in FY16, as against ` 291 bn raised via 51 issues in FY15.

Public sector accounts for 53.5% of resource mobilisation in FY16

As per data furnished by SEBI, there were 11 public sector issues and 97 private sector issues in the primary market in FY16,
as against three public sector issues and 85 private sector issues in FY15. However, although the number of issues of the
public sector is significantly smaller, its share in funds raised was as high as 53.5% during the year. This was significantly
higher than its 12.7% share in FY15. During the year, the resources mobilised by the public sector increased multi-fold
from ` 24.5 bn in FY15 to a much higher ` 311 bn in FY16.

Sector-wise Resource Mobilisation (%)

Source: SEBI, Dun & Bradstreet Research

Banks/FIs/finance sectors share in resource mobilisation contracts

Industry-wise classification for FY16 showed that the banks/FIs/finance sector retained a lions share in the overall resource
mobilisation for equities. The funds raised by the sector increased from ` 106.4 bn in FY15 to ` 189.9 bn in FY16, reflecting
a handsome 78.4% growth. However, the sectors share in overall resource mobilisation contracted from 55.4% in FY15
to 32.6% in FY16.

There were a few sectors which raised little to zero funds in FY15 that raised a substantial quantum of funds in FY16.
The most noteworthy among these were the automobile sector which raised ` 79.1 bn (13.6% share), the health &
pharmaceutical sector which raised ` 40.5 bn (7%) the aviation sector which raised ` 30.1 bn (5.2%) and the power sector
which raised ` 21 bn (3.6%).

XXXIX
Industry-wise Resource Mobilisation

FY15 FY16 Percentage share in total amount

Industry
No. of issues Amount (` bn) No. of issues Amount (` bn) FY15 FY16
Airlines 0 0.0 1 30.1 0.0 5.2
Automobile 0 0.0 4 79.1 0.0 13.6
Banks / FIs / Finance 36 106.4 23 189.9 55.4 32.6
Cement & Construction 5 6.2 4 1.7 3.2 0.3
Chemical 2 3.6 4 11.8 1.9 2.0
Consumer Services 2 15.9 1 4.2 8.3 0.7
Electrical Equipment / Production 3 24.8 4 0.8 12.9 0.1
Engineering 0 0.0 2 3.7 0.0 0.6
Electronics 1 0.3 0 0.0 0.2 0.0
Entertainment 6 8.8 2 0.2 4.6 0.0
Food Processing 2 0.3 2 7.0 0.1 1.2
Healthcare & Pharmaceuticals 1 0.3 8 40.5 0.1 7.0
Hotels 1 10.0 3 11.5 5.2 2.0
Information Technology 3 1.4 6 9.2 0.7 1.6
Power 0 0.0 3 21.0 0.0 3.6
Roads & Highways 2 7.2 6 31.1 3.8 5.4
Telecommunication 1 1.8 0 0.0 0.9 0.0
Textile 5 4.1 6 1.0 2.1 0.2
Miscellaneous 18 1.1 29 138.8 0.6 23.9
Total 88 192.0 108 581.7 100.0 100.0
Source: SEBI, Dun & Bradstreet Research

II. Secondary Market Trends

During FY16, the Indian equity markets remained subdued due to turmoil in the global equity markets. Among the factors
that weighed down on the markets were the economic slowdown in China, the Brexit, crisis in the Eurozone, the slump
in global commodity prices, weakening global trade and prospects of an interest rate hike by the Federal Reserve. As on
March 31, 2016, the benchmark indices, namely S&P BSE Sensex (Sensex) and Nifty 50 (Nifty) reflected a decline of 9.4%
and 8.9%, respectively, as compared to March 31, 2015. The Sensex closed at 25,342 points as on March 31, 2016 as
compared to 27,957 points as on March 31, 2015. Likewise, the Nifty closed at 7,738 points on March 31, 2016 as compared
to 8,491 points as on the corresponding date a year ago. This was the first time since FY12 that both benchmark indices
had reflected a decline. Nevertheless, both indices showed a decent growth over a five year period. Between FY12 and
FY16, the Sensex and the Nifty rose by a CAGR of 9.8% and 10.2% per annum, respectively.

Five Year Performance of Key Indices

Source: SEBI, Dun & Bradstreet Research

XL
The average market capitalisation at the BSE in FY16 stood at ` 94.8 bn, about 6.6% lower than in FY15. Likewise, the
market capitalisation at the NSE decreased by 6.2% to ` 93.1 bn. Over a five year period, however, both indices reflected
a growth of more than 11% per annum between FY12 and FY16, reflecting the rapid growth of the Indian equity markets
over the years.

Market Capitalisation (FY12 - FY16)

120,000 101,493 99,301

94,753 93,105
100,000
74,153 72,777
80,000 62,149 60,965
53,486 52,323
60,000

40,000

20,000

0
BSE Sensex NSE Nifty 50

FY12 FY13 FY14 FY15 FY16

Source: SEBI, Dun & Bradstreet Research

As per data furnished by SEBI, the market capitalisation-to-GDP ratio, which monitors the growth and development of
the stock market in tandem with the economy, contracted with respect to the BSE from 96.2% in FY15 to 88.4% in FY16,
and with respect to the NSE from 94.1% in FY15 to 86.6% in FY16. Nonetheless, these were much higher than the 70%
levels recorded in FY12.

The price-to-earnings ratio (P/E ratio), which is an indicator of the valuation of the shares, remained stable till July 2015,
but entered a downward spiral thereafter. This was in tandem with the global turmoil that took place. The Sensex and
the Nifty both touched their lowest P/E ratio levels in February 2016, before bouncing back in the following month. As on
March 31, 2016, the P/E ratio of the Sensex and the Nifty stood at 18.6 and 20.9 times, respectively, as compared to 19.5
and 22.7 times, respectively as on March 31, 2015.

Market Capitalisation to GDP (%) Price to Earnings Ratio (times)

Source: BSE, NSE, Dun & Bradstreet Research

Note:
1. Data for FY12, FY13, FY14 and FY15 revised with consideration to new series estimates for GDP (at 2011-12 prices)
2. For FY16, Advance Estimates of GDP at constant (2011-12 Prices) are considered
3. For FY16, turnover figures pertain to the period Apr 15-Dec 15, and Market capitalisation figures are as on December 31, 2015

XLI
III. Derivatives Market Segment

The popularity of the derivatives market has grown by leaps and bounds in India over the past few years. Apart from
registering a multi-fold increase in volumes, the market has also grown in terms of number of contracts traded, the traded
value, and the number of products traded. As a matter of fact, the turnover in the derivatives market has even gone on
to surpass the cash segment.

Total Trading Turnover in Cash & Derivatives Markets between FY12 and FY16 (` trillion)

BSE NSE
Cash Derivatives Total Cash Derivatives Total
FY12 6.7 8.1 14.8 28.1 313.5 341.6
FY13 5.5 71.6 77.1 27.1 315.3 342.4
FY14 5.2 92.2 97.4 28.1 382.1 410.2
FY15 8.5 203.6 212.2 43.3 556.1 599.4
FY16 7.4 44.8 52.2 42.4 648.2 690.6
Source: BSE, NSE, Dun & Bradstreet Research

Between FY12 and FY14, the total turnover (cash and derivatives) on the BSE reflected a multi-fold growth, from merely
` 14.8 trillion in FY12 to ` 212.2 trillion in FY15. In FY16, however, the total turnover declined to a 4-year low of ` 52.2
trillion. On the other hand, the NSE sustained its growth momentum, increasing from ` 341.6 trillion in FY12 to a huge
` 690.6 trillion in FY16, at a CAGR of 19.2%. This growth was exclusively due to the derivatives segment.

Trading turnover at NSE grows by 15.2% in FY16, BSE records steep decline
In FY16, the total trading turnover (cash and derivatives) on the NSE grew by 15.2% from ` 599.4 trillion in FY15 to ` 690.6
trillion in FY16. This growth was spurred by a 16.6% growth in the trading volumes of its derivatives segment during the
year. In contrast, The BSEs trading turnover plunged by 75.4% in FY16 to ` 52.2 trillion, The BSEs derivatives segment, in
particular, recorded a steep 78% fall in its trading turnover from ` 203.6 trillion in FY15 to a much lower ` 44.8 trillion in
FY16. The fall can be attributed to investors preference towards the NSE with respect to trading of derivatives.

Index options account for a lions share among the derivative products traded in the Indian derivatives market. In FY16,
they accounted for 98% of the total derivatives segment turnover on the BSE and 75.5% on the NSE. Besides index option,
the other derivative products that are traded on the NSE are single stock futures (12.1%), index futures (7%) and single
stock options (5.4%). In the index derivatives segment at NSE, derivatives are offered on various indices including the
Nifty, Nifty Midcap 50, Nifty Bank, Nifty Infra, Nifty IT, Nifty PSE and also in foreign indices such as the Dow Jones, S&P
500 and UK FTSE 100.

IV. Net Investments

Sustained capital inflows are crucial for any economy in order to meet its financing needs. Certain policy initiatives were
introduced in the Union Budget FY16 aimed at projecting India as an attractive investment destination. Under the Foreign
Portfolio Investor (FPI) Regime, the erstwhile FIIs, sub accounts and QFIs were merged into a new investor class termed
as Foreign Portfolio Investors (FPIs) with effect from June 2014.

FPI investments plunge in FY16

In FY16, the net investment of FPIs in the equity and debt markets taken together turned negative for the first time since
FY09. During the year, India witnessed net outflow of FPI investments to the tune of ` 181.8 bn, as against net inflows of
` 2,774.6 bn in FY15. The outflow of FPIs was seen in both, the equity as well as debt segments, the first time such an
event had occurred since 1992. Although the announcement of an increase in FPI limits in debt securities spurred some
degree of buoyancy in the market in the first half of the year, the market continued to lose some of its gains after October
2015, owing to fresh concerns about global cues, as well as some domestic concerns.

XLII
Segment-wise Net Investment by FPIs (` bn)

Net Investment by FPIs

Year
Equity Debt Total
FY12 437.4 499.9 937.3
FY13 1,400.3 283.3 1,683.7
FY14 797.1 (280.6) 516.5
FY15 1,113.3 1,661.3 2,774.6
FY16 (141.7) (40.0) (181.8)
Source: BSE, NSE, Dun & Bradstreet Research

FPI Net Investment

Source: SEBI, Dun & Bradstreet Research

V. Mutual Funds

The mutual fund industry is one the fastest growing and most competitive segments of the Indian securities market. It
plays a vital role in channelizing household savings in the capital market. During FY16, the regulatory reforms undertaken
by SEBI with respect to mutual funds include the introduction of mandatory stress testing of liquid fund and money market
mutual fund (MMMF) schemes, modification of product labelling in mutual funds, relaxation of restrictions on managing/
advising of offshore pooled funds by domestic fund managers, tightening of exposure limits on investments by mutual
funds, and enhancement of scheme-related disclosures.

Mutual funds invest Rs 661.4 bn in equity markets in FY16

Mutual funds play an important role in channelizing household savings in capital markets. In FY16, mutual funds recorded
a net investment of Rs 661.4 bn in the equity markets. This was 62.4% higher than a year ago, when mutual funds made
a net purchase of Rs 407.2 bn in the equity markets. This was the second year in a row where mutual funds had recorded
a net purchase in the equity markets, after five years of net selling.

In contrast, however, mutual funds net purchases in debt declined from Rs 5,870.2 bn in FY15 to Rs 3,762.9 bn in FY16,
reflecting a sharp 35.9% decline. With debt accounting for around 85-90% of the aggregate net investment of mutual
funds in the stock exchanges, this resulted in a decline in the combined net investments as well. Accordingly, the quantum
of combined net investment by mutual funds in both equity and debt taken together reflected a decline in FY16. In FY16,
mutual funds executed net purchases/sales (equity + debt) to the tune of Rs 4,424.4 bn, as against Rs 6,277.4 bn executed
a year ago. This translates into a 29.5% decline as compared to the preceding year.

XLIII
 Investments by Mutual Funds (In ` bn)

Source: SEBI, Dun & Bradstreet Research

Resource mobilisation by mutual funds continues rising trend

In FY16, the gross mobilisation of resources by all mutual funds stood at Rs 137.7 trillion, as against Rs 110.9 trillion in the
preceding year. This translates into a 24.2% increase as compared y-o-y. Correspondingly, redemption increased by 24.1%
to Rs 136.3 trillion in FY16 from Rs 109.8 trillion in FY15. Consequently, the net resources mobilised by mutual funds stood
at 1,341.8 bn as compared to Rs 1,032.9 bn in FY15, reflecting an increase of 29.9%.

The Assets under Management (AUM) of mutual funds, across schemes, continued its upward trend in FY16. It increased
by 13.9% to Rs 12.3 trillion in FY16, from Rs 10.8 trillion in FY15.

Resource Mobilisation by Mutual Funds (Rs billion)

Assets at the End of Average Assets at the

Year Gross Mobilisation Gross Redemption Net Inflow
Period End of Period
FY15 110,862.6 109,829.7 1,032.9 10,827.6 12,077.2
FY16 137,655.6 136,313.7 1,341.8 12,328.2 13,551.6
Source: SEBI, Dun & Bradstreet Research

XLIV
 A Leading Credit & Co-operative Society Chooses Streebo to
modernize and mobilize its legacy applications

Challenge
Aiming to offer a paradigm shift in credit and banking facilities, a leading Credit and Co-operative
Society in India was looking at building feature-rich mobile experiences for its agents and members.
The credit society also chose more robust and scalable IBM MobileFirst foundation and API
Connect platforms to migrate their legacy applications (Members and Agents).

This was a huge and a very complex challenge, owing to the varying nature of integration elements,
core banking systems, APIs, and, also the sheer size of the data, content points, processes and
multiple backend systems involved.

Solution
Streebo, an award winning IBM Gold Business Partner sought to leverage its library of pre-built
banking and transactional assets to deliver a comprehensive credit and mobile banking app.
Leveraging its in-house integrated capabilities of producing a best-in-class user experience, award
winning asset based development and high performance testing, Streebo aims to deliver the apps
in 12 weeks time.

Built on top of the IBM MobileFirst foundation platform, the app will comprise of advanced security
and compliance features to ensure that data and transactions are secure and safeguarded.

Distinct Functionalities
AI Enabled Chatbot e-KYC Enabled Fund Transfers
Pre-integrated with CRM Bill Payments Rewards Module

Estimated Benefits
Turn Around Time
Streebo, with its library of pre-built assets would bring down the estimated turnaround time
of development of both the mobile apps by 20 - 25%
Total Cost of Ownership
With a very small services footprint and a hybrid delivery model (On-site and Offshore) the total
cost of ownership would come down to 30%

XLV
XLVI
Mutual Funds
In 2015 mutual funds in India crossed the ` 10 trillion mark. The total assets managed by the Indian mutual fund industry
grew from ` 13.43 trillion in November 2015 to ` 16.94 trillion in November 2016, registering a growth of 26.1%. SIP,
the popular investment method adopted by Indian mutual fund investors crossed the 10 million mark in December 2016
standing at 12.3 million. For the period April to December 2016, the mutual fund industry has witnessed an addition
of ~619,000 accounts per month in the SIP segment. The vibrant mutual fund industry in India comprises of 45 asset
management companies with their average age of 13.5 years. Eight out of the sample asset management companies in
India have been in operations for less than six years.

A Dun&Bradstreet study of 33 asset management companies in India observed that the total income grew from ` 68.3
billion in FY15 to ` 87.0 billion in FY16 registering a growth of 27.4% and net profit grew from ` 16.3 billion in FY15 to
` 21.8 billion in FY16 registering a growth of 33.2% with an average industry profit marging of 24.5%.

Income funds continued to dominate the mutual fund space

Source: AMFI
Note: Others comprises of gilt, other ETF, gold ETF, fund of fund investing overseas, and infrastructure debt fund.

XLVIII
The AUM of Indian asset management companies increased from ` 8,252 billion in FY14 to ` 12,328 billion in FY16, registering
a growth of CAGR 22.2%. Income funds with ` 5,655 billion in assets accounting for 45.9% of the total AUM in FY16 is the
biggest fund in terms on size. The large size of the fund can be attributed to the dominance of institutional investors with
large ticket size who primarily choose to park their excess funds for short terms whilst earning attractive returns.

Non gold ETFs registered the highest growth of CAGR 88.3% for the period FY14-FY16. The ETF funds too were dominated
by institutional investors. The simplicity of ETFs as it is based on popularly known underlying, passive investment strategy,
liquidity, and lower management fees make ETFs an attractive investment option.

Equity assets had a larger holding period compared to non-equity assets

Source: AMFI

The average holding period of investments in equity assets was significantly longer compared to the investments in non-
equity assets by asset management companies in India. Majority of the equity investments, accounting for 39.5%, were held
above two years, while majority of non-equity investments, accounting for 51.3%, were held for less than six months.

The dominant source of return in equity investments is capital gains. In the equity market achieving any significant capital
gain requires holding the securities for longer periods. This can be attributed to why majority of the equity investments
are held over two years.

In FY16 the Indian mutual fund industry had 50.6 million accounts
The number of accounts in India increased from 44.4 million in FY15 to 50.6 million in FY16, registering a growth of 13.9%.
The majority, accounting to ~99%, of these accounts held by individuals comprising of retail and HNI accounts. Due to the
sheer volume of investor accounts, individuals are dominant in all categories of funds such as equity, debt, liquid/money
market, ETFs, and FoFs ranging from 94.4% to 99.2% of all accounts held in these funds. However, stark differences can
be observed when the AUM of these funds are compared. As of November 2016, 55.4% of the mutual fund assets in India
are held by institutions and 44.6% are held by individuals. In addition for the period November 2015 to November 2016
institutions registered a growth in assets of 28.9% and individuals registered a growth in assets of 23.0%.

XLIX
Institutional investors dominated the debt funds while individual investors dominated the equity funds

Source: AMFI

In terms of AUMs in different categories, institutional investors dominated debt oriented, liquid/money market, ETFs, and
FoFs. The preference of debt and liquid/money market mutual funds by institutional investors can be attributed to their
need to invest funds for a short term. Debt and liquid/money market instruments are less volatile compared to equity
instruments. This helps institutions preserve capital erosion especially given their short time horizons for investments
and the liquid nature of these schemes enables the institutional investors pull out funds instantly and at ease. In addition,
institutional investors are more knowledgeable and well versed with the debt market which comprise of large volumes
of bonds and money market instruments.

Individual investors only dominated the equity oriented schemes where they held 84% of the AUM. The dominance
of individual investors in the equity funds can be attributed to the higher risk profile of these investors compared to
institutional investors aimed at generating substantial returns over longer time horizon. The debt investment preferences
of individual investors are primarily limited to the convenience of bank FDs and RDs. Also, the ability to generate substantial
returns in the debt market requires a strong understanding of debt market and a large corpus, both of which are not in
the wheelhouse of individual investors. The tax structure too plays a vital role in shaping individual investors focus away
from debt funds. The long term capital gains on equity mutual funds are tax exempt while they are taxed at 20% (with
indexation) on non-equity mutual funds.

L
Shift in focus to B15 to provide growth opportunities of the industry

Source: AMFI

Retail investors in India are heavily dependant on the distribution channel companred to investing directly. As of November
2016, 92% of the retail investors invested through distribution channels. A study by AMFI brought to light that the inflow
of funds received by asset management companies in India were heavily skewed towards the top 15 cities in India. The
lack of adequate distributors selling mutual funds in semi-urban and rural regions, infrastructure constraints, subdued
awareness, and lower average ticket size were identified as the major cause of the skew.

In 2012, in an attempt to include the B15 region, SEBI allowed fund houses to charge an additional 30 basis points in the
total expense ratio if new inflows from B15 cities were at least 30% of gross new inflows in the scheme or 15% of the
average assets under management, whichever is higher. This development incentivised asset management companies to
focus on B15 regions as fullfilling this criteria enables asset management companies to increase their revenues by charging
higher fees. Therefore, many of the asset management companies incentized their agents to garner revenues from B15
regions. These continued efforts have resulted in AUM contribution of B15 witness a growth of 32.4% for the period
November 2015 November 2016. This growth was significantly higher than the growth registered by AUM contribution
by T15 cities and AUM overall of 25.0% and 26.1% respectively for the same period.

Low level of financial literacy continues to hinder the growth of mutual fund industry
The penetration of mutual funds, especially in semi-urban and rural places is significantly hindered by the lack of
understanding of mutual funds and their operations. In order to address this concern, asset management companies
have been conducting investor awareness programs. In FY16, 38 AMCs had conducted 10,816 programs in 254 cities. In
addition, efforts to educate retail investors and channelinse their savings towards mutual funds have also been undertaken
by AMFI and SEBI.

Introduction of investor friendly registeration process and increasing bank branches provide growth opportunities

Exploring new frontiers

In 2016, SEBI issued guidelines to change the existing norms for investing in mutual funds. The traditional KYC process
was lengthy and cumbersome. The revised guidelines allows for Aadhaar-based process for fulfilling KYC requirements to
start investing in mutual funds. This new development is an investor friendly process which is expected to bring in new
mutual fund investors.

Leveraging the baking channel

As of FY16, SCBs in India had 86425 branches in rural and semi urban areas. Furthermore, RBI has mandated banks with
opening newer branches in these underserved regions of country to achieve financial inclusion ojectives and strenghtern
its banking system. The lack of infrastruce in rural and semi urban areas acts as a major hinderance for asset managemnt
companies in penetrating this market and creation of the required infrastructure would capital intenisve for them.
Therefore, it would be wise for asset management companies to utilise the banking infrastructure in non-urban regions
to educate and sell mutual funds.

LI
  

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Insurance
Indias diversified financial sector is undergoing expansion, both in terms of growth of the existing financial institutions
and new entities entering the market. The sector comprises of commercial banks, insurance companies, non-banking
financial companies, mutual funds, pensions funds and other smaller financial entities. Indias financial sector has been
dominated both by the banking and the insurance companies.

Indias insurance sector has evolved from its fundamental role of providing basic protection against risks to becoming
a key pillar to support Indias rise to economic prosperity and growth, providing funds for nation building projects and
driving social security.

According to the report World Insurance in 2015 created by Swiss Re, the reinsurance major, the global GDP grew by 2.5%
in 2015 which in turn moderated the growth of global re/insurance industry in 2015. As per the report, the real global direct
life and non-life insurance premiums written grew by 3.8% in 2015, up from 3.5% in 2014. However in nominal US dollar
terms, due to wide spread currency depreciation against USD, premiums were down by 4.2% compared to the last year.

In 2015, the global life premium stood at US $2,533.8 bn compared to US $2,665 bn in the previous year, recording a
growth of 4% in 2015 as compared to the growth of 4.3% in 2014. The global non-life premium stood at US $2,019 bn in
2015 as compared to US 2,123.7 bn in 2014, recording a record of 3.6% in 2015 compared to 2.4% in the earlier year.

A comparison of the premium growth in advanced and emerging economies point out that, emerging economies witnesses
a healthy growth in premium compared to that in advanced economies. In the life insurance segment, premium growth
in the advanced economies slowed down to 2.5% compared to 3.8% in the previous year, while that in the emerging
economies grew by 12% compared the previous year. Under the non-life insurance segment, premiums in the advanced
economies grew by 2.6% in 2015 compared to 1.1% in the previous year, while the premiums in the emerging economies
grew by 7.8% as compared to 8.6% in 2014.

LIV
Total Real Premium Growth Rate in 2015 (%)

Life Premium Life Premium Non-Life Premium Non-life Premium Total Premium
Regions / Countries Total
(US$bn) Growth (US$bn) Growth (US$bn)
Advanced Countries 2,089.8 2.5 1614.3 2.6 3,704.1 2.5
Emerging markets 444.1 12 405.7 7.8 849.7 9.8
Asia 904.6 7.8 446.4 9.2 1,350.9 8.2
India 56.7 7.8 15.1 8.1 71.8 7.9
World 2,533.8 4 2,019.9 3.6 4,553.8 3.8
Source: IRDA Annual Report 2015-16

Despite the lower contribution to the global insurance market, India continues to occupy the bright spot
Indias share in global insurance premiums stood at 1.6% in 2015, as compared to 1.5% in 2014. Of the total insurance
business, Indias life insurance premiums accounted for 2.24% share of the total global life insurance premiums in 2015 as
compared to 2.08% in 2014. While in terms of non-life insurance, Indias share in the global non-life insurance premium
stood at a mere 0.7% in 2015.

In India, the share of life insurance premiums of the total premiums stood at 79% while that of non-life insurance premiums
stood at 21%. Of the total 88 countries in the global insurance market, India was ranked 10th and 18th in the life and non-
life insurance business respectively in 2015. In 2015, the Indias life insurance premiums increased by 7.8% as compared
to global growth of 4%, while the non-life premiums grew by 8.1% as compared to the global growth of 3.6%.

While Indias share in global insurance premiums continue to be low, it also ranks low in terms of insurance penetration
and density, the two important parameters that show the development of insurance sector in any country. Insurance
penetration refers to premium as a percentage of GDP whereas insurance density refers to per capita premium or premium
per person. In 2015, Indias insurance density stood at US $55, way beyond the world average of US $621.

Insurance Density (US $)

8000

7000

6000
In US $

5000

4000

3000

2000

1000

Source: IRDA Annual Report 2015-16

The level of insurance penetration depends on a large number of factors like level of economic development of the
country, the extent of the savings in financial instruments and the size and reach of the insurance sector. In 2015, the
insurance penetration in India stood at 3.4% as against the world average of 6.2%. Against the world average of 3.5%, the
life insurance penetration in India stood at 2.7%. On the contrary, during the same period, non-life insurance penetration
in India stood at 0.7% as against the world average of 2.8%. Some of the major factors responsible for lower penetration
of insurance products in India are low income levels, low consumer preference, untapped rural markets, claim-settlement
time and constrained distribution channels.

LV
Insurance Penetration (%)

20 19

18
16 14.8
14.7
14
11.4
In (%)

12 10.8 10
9.2 9.3
10
7.3 7.3
8 6.2 5.7 5.5
6 5.1
3.9 3.4 3.6
4
1.4 1.2
2 0.8
0

Source: IRDA Annual Report 2015-16

In terms of total premiums, public sector insurers continue to dominate the Indian insurance industry
As of at the end March 2016, there were 54 insurers operating in India. Of these, there are 24 life insurers, 24 are general
insurers, 5 are health insurers, and 1 is reinsurer. Of the 24 life insurers, 23 companies are in the private sector, while one
is the public sector company. Of the 24 non-life insurers, 18 companies are in the private sector while 6 companies are
in the public sector.

Registered Players in the Indian Insurance Industry

Type of Insurer Public Sector Private Sector Total

Life 1 23 24
General 6 18 24
Health 0 5 5
Reinsurance 1 0 1
Total 8 46 54
Source: IRDA Annual Report 2015-16

The total premiums of all the registered insurers stood at ` 463,323.2 bn in 2015, registering a growth of 12.2% over the
previous year. Public sector insurance companies continued to dominate the Indian insurance space. In terms of total
premium income of the insurance companies, the total premiums of the public sector companies stood at ` 318,977.2
Cr in 2015, growing at a pace of 11.4% as compared to the previous year. On the contrary, the total premiums of private
sector insurers stood at ` 144,346 Cr in 2016, registering a growth of 14.1%.

Total Premiums of Indian Insurance Sector in FY16

Life Premium Life Premiums Non-life Premium Non-life Total Premiums Total Premium
Type of Institution
(` bn) Growth (` bn) Premiums Growth (` bn) Growth
Public 2,664.4 11.2% 525.3 12.6% 3,189.8 11.4%
Private 1,005.0 13.6% 438.5 15.3% 1,443.5 14.1%
Total 3,669.4 11.8% 963.8 13.8% 4,633.2 12.2%
Source: IRDA Annual Report 2015-16

LVI
Indian Life Insurance Industry

Despite the decline in its share, LIC dominates the Indian life insurance industry
In FY16, the total premium income of the Indian life insurance industry stood at ` 3,669.4 bn, registering a growth of
11.8% over the previous year. Premium income of the private sector life insurers slowed down during FY16. The total
premium income of the private sector insurers stood at ` 1,005.0 bn in FY16, registering a growth of 13.6% as compared
to the growth of 14.3% recorded during FY15. The total premium income of the sole public sector life insurer, LIC, stood
at ` 2,664.4 bn in FY16 registering a growth of ` 11.2% as compared to the previous year.

Of the total premium income received by the life insurers in FY16, renewal premium accounted for 62.2% as compared
to 65.5% in FY15. First year premiums contributed remaining 37.8% to the total premiums received in FY16, as compared
to 34.5% in FY15. During FY16, the income through renewal premiums grew by 6.2% as compared to 10.7% growth in the
previous year. During the same period, the income from first year premiums grew by 22.5% as compared to the decline
of 5.8% in FY15.

The bifurcation of first year premium income of life insurers indicate that the single premium income grew by 32.5% in
FY16 as compared to the decline of 2.4% in FY14. In case of LIC, single premium products continue to play an important role
as they contributed 27.8% to the total premium income of LIC in FY16. In comparison to LIC, the share of single premium
income in the total premium income of private sector insurance companies stood at 13.7% in FY16.

The unit-linked products (ULIPs) registered a growth of 12.6% in FY16, growing from ` 416.2 bn in FY15 to ` 468.7 bn in
FY16. On the other hand, the premium income from traditional life insurance products grew by 11.7% in FY16, growing
from ` 2,864.8 bn in FY15 to ` 3200.7 bn in FY16. As a result, the share of ULIP products in total premium increased to
12.8% in FY16 as compared to 12.7% in FY15.

Share of Unit Linked Insurance Plans in the total premium income

800 30.0%

700
25.0%
600
20.0%
500
In ` bn

400 15.0%

300
10.0%
200
5.0%
100

0 0.0%
FY12 FY13 FY14 FY15 FY16

Linked premium income % share of in total premium income

Source: IRDA Annual Report 2015-16

The market share of LIC, on the basis of the total premium income, decreased from 73% in FY15 to 72.6% in FY16. On the
other hand, the market share of private life insurers increased from 26.9% in FY15 to 27.4% in FY16. The comparison of
the first year premiums of the life insurance companies in FY16 indicate that LIC continued to dominate the space with
a share of 70.5%, while the share of private sector insurance companies stood at 29.5%. Similarly, in the income from
renewal premium too LIC dominated the space with a share of 73.9% as compared to 26.1% share of the private insurers
in FY16.

LVII
During FY16, the life insurers issued 267.4 lakhs new policies as compared to 259.1 lakh policies in FY15. As a result, the
total number of new policies issued grew by 3.2% in FY16 as compared to a decline of 36.6% in FY15. Of the total new life
insurance policies issued, LIC alone issued 205.5 lakh new policies, accounting for 76.8% of the new policies, while the
private insurers issued 61.9 lakh new policies accounting for 23.2% of all the new policies issued during FY16.

New Policies issued by Life Insurers

New Policies Issued in New Policies Issued in

Type of Insurer Growth in FY15 (%) Growth in FY16 (%)
FY15 (in Lakh) FY16 (in Lakh)
LIC 201.7 -41.6 205.5 1.9
Private Sector 57.4 -9.8 61.9 7.9
Total 259.1 -36.6 267.4 3.2
Source: IRDA Annual Report 2015-16

Life Insurance Industry claim settlement ratio for individual policy holders improves slightly in FY16 as compared to
FY15
In FY16, the life insurance industry paid benefits of ` 2,011.7 bn constituting almost 55% of the gross premium underwritten
during the period. During FY15, the life insurance industry had paid benefits of ` 2,109.2 bn, thereby constituting 64.3% of
the gross premium underwritten during the period. The benefits paid by the private insurers in FY16 stood at ` 605.7 bn,
constituting 60.3% of the premiums underwritten. LIC, on the other hand, paid benefits of ` 1,412.0 bn in FY16 constituting
almost 53% of the premium underwritten.

With respect to claims settled, in FY16, the life insurance companies settled 8.54 lakh claims on individual policies amounting
to ` 126.4 bn. Further in FY16, the life insurance companies rejected 15,157 claims on individual policies amounting to
` 7.4 bn. The claim settlement ratio of LIC was better than that of the private insurers. During FY16, the claim settlement
ratio of LIC increased to 98.3% as against 98.2% recorded during the previous year. The percentage of claim rejection by
LIC also came down to 0.98% in FY16 as compared to 1.15% in FY15.

For the private sector insurance companies, the settlement ratio increased by 2.1%, growing from 89.4% in FY15 to 91.5%
in FY16. The percentage of claim rejection by the private life insurers also came down to 6.7% in FY16 as against 7.8% in
FY15.

The overall life insurance industrys settlement ratio increased slightly from 96.97% in FY15 to 97.43% in FY16, while the
claim rejection ratio decreased from 2.08% in FY15 to 1.73% in FY16.

The number of offices of life insurance companies increased to 11,071 in FY16 as compared to 11,033 in FY15. The
majority of offices of the life insurance companies are located in semi-urban towns which have a population between
10,000 and 99,000. Around 49% of the offices of the life insurance companies are located in these semi-urban towns.
The urban towns with population between 100,000 and 999,999 accounted for second highest number of offices of the
life insurance companies.

In total, both LIC and private insurers together covered 95.3% of all districts of India. The number of districts in India with
no presence of life insurance offices stood at 30.

Indian General Insurance Industry

In FY16, the total direct premium underwritten by the non-life insurers in India stood at ` 963.8 bn as against ` 846.9 bn
in FY15, registering a growth of 13.8% as against 9.2% recorded in the previous year. The public sector general insurers
underwrote a premium of ` 476.6 bn in FY16 as compared to ` 425.5 bn in FY15, growing at a pace of 12.1% in FY16
as compared 10.2% in FY15. On the other hand, the total premium underwritten by private general insurers (including
standalone health insurers) stood at ` 438.5 bn in FY16 as compared to ` 380.3 bn in FY15, growing by 13.1% during FY16
as against 9.6% in the previous year.

LVIII
Gross Direct Premium Income of non-life insurers

Gross Direct Premium in Gross Direct Premium in

Insurer Growth in Premium (%) Growth in Premium (%)
FY15 (` bn) FY16 (` bn)
Public 425.5 10.2% 476.9 12.1%
Private 350.9 9.6% 396.9 13.1%
Standalone Health 29.4 31.1% 41.53 41.1%
Specialized Insurer 41.0 -12.7% 48.4 18.0%
Total 846.9 9.2% 963.8 13.8%
Source: IRDA Annual Report 2015-16

Motor insurance continues to dominate Indias general insurance business

The motor insurance business continued to be largest segment of Indias non-life insurance business, accounting for 43.9%
share in the total non-life insurance business in FY16. In FY15, this share stood at 44.1%. The total premium of the motor
insurance business grew by 13.2% in FY16 as compared to the growth of 10.5% in FY15.

The health insurance business occupied the second most dominant segment in FY16 with a share of 28.5% in the total
non-life insurance market (26.7% in FY15). The total premium collected by health insurance segment stood at ` 274.6 bn
in FY16 as compared to ` 226.4 bn in FY15, registering a growth of 21.3% over the previous year. The premium collection
from the fire segment grew by 8.4% while that from the marine segment declined by 1.2% in FY16.

Premium (Within India) underwritten by Non-life insurers

Segment Premium Underwritten in FY15 (` bn) Premium Underwritten in FY16 (` bn)

Motor 373.8 423.0
Health 226.4 274.6
Fire 80.4 87.3
Marine 30.2 29.8
Others 135.9 149.1
Total 846.9 963.4
Source: IRDA Annual Report 2015-16

Segment-wise share of premium underwritten by non-life insurers in India

3%
15% 9%

29%
44%

Fire Marine Motor Health Others

Source: IRDA Annual Report 2015-16

Non-life insurers witnessed a decline in new policies issued in FY16 as compared to FY15
In FY16, the non-life insurers (excluding standalone health private and specialized insurers) underwrote 122.1 mn policies
as compared to 118.3 mn policies in FY15, thereby growing at 3.2% in FY16 as compared to 15.4% in FY15.

LIX
Number of Policies issued by non-life insurers

Number of Policies issued Number of Policies issued

Insurer Growth in FY15 (%) Growth in FY16 (%)
in FY15 (mn) in FY16 (mn)
Public Sector 67.8 12.9 67.1 -0.96
Private Sector 50.5 19.0 54.9 8.8
Total 118.2 15.4 122.1 3.2
Source: IRDAI Annual Report 2015-16

The public sector insurers witnessed a marginal decrease in the number of policies issued in FY16. The number of policies
issued by the public sector insurers declined from 67.8 mn in FY15 to 67.1 mn in FY16, declining by 0.96% as compared to
the growth of 12.9% in FY15. On the other hand, the number of policies issued by the private sector insurers grew from
50.5 mn in FY15 to 54.9 mn in FY16, thereby registering a growth of 8.8% in FY16 as compared to 19% in FY15.

Government Initiatives
The Government of India has taken a number of initiatives to boost the insurance industry. Few of them are:
Up to 49% of foreign investment allowed through automatic route subject to the guidelines on Indian management and control, to be verified
by the regulators.
Service tax on single premium annuity policies reduced from 3.5% to 1.4% of the premium paid in certain cases.
The two committees formed by The Insurance Regulatory and Development Authority (IRDA) of India to explore and suggest ways to promote
e-commerce in the insurance sector in order to increase insurance penetration and drive financial inclusion.
Draft regulations by IRDAI to impose obligations on insurers towards providing insurance cover to the rural and economically weaker sections
of the population.
Foreign Investment Promotion Board (FIPB) has cleared 15 Foreign Direct Investment (FDI) proposals including large investments in the insurance
sector by Nippon Life Insurance, AIA International, Sun Life and Aviva Life leading to a cumulative investment of ` 72.6 bn (US$ 1.09 bn).
IRDAI has given initial approval to Switzerland-based Swiss Re, French-based Scor SE, and two Germany-based reinsurers namely, Hannover Re
and Munich Re to open their respective branches in India.

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Indias Leading BFSI Companies 2017
Bajaj Allianz General Insurance Company
Limited
Growing financial literacy has placed
the Indian Insurance sector on a growth
trajectory. What are your views on
opportunities in the Indian insurance
industry?
The growth in the Indian Insurance sector
and the new opportunities cannot be
solely attributed to the growing financial
literacy. Many factors such as the advent
of digital revolution, changing consumer
demographics and several new initiatives
by the government that are fueling growth
Tapan Singhel
and consumption in the economy have had
Managing Director
an impact on the industrys performance.
& Chief Executive Officer
Given that insurance still remains a highly
under penetrated market in our country,
digitization has helped the industry reach
the last mile in a cost-effective manner.
The changing customer behavior patterns
and a demographic drift to a younger
generation of consumers that has
information at finger tips - the balance of
power is now shifting to the customers,
across all B2C industries, and insurance is
no different. This shift is already fostering
innovations in product/service design
and delivery. The insurance industry
is also expected to embrace the latest
technologies for risk management and
claim settlement.
The recent industry developments like
the move to list public sector insurers
will ensure that profitability of insurance
companies will now take center stage and
pricing would be made more sustainable
through risk based underwriting. It is
also expected that the government along
with the regulator will continue working
towards bringing out more affordable
insurance schemes in association with
insurers to increase insurance access and
extend the financial security net to the
masses especially in the tier 2 and 3 cities
and other rural areas. This collaboration
between the center and the industry will
further propel the growth story..
The Indian government is increasingly
focusing on adoption of digital
technologies in the financial industry.
What is your outlook on the adoption
of digital technologies over the next
five years, especially with respect to
insurance?
I - 2 Interviews
If we look at the last 5 years of digital
transformation, apart from infusing
technology to enhance operational
efficiencies insurers have been able to
create digital offices and move away
from the traditional brick and mortar
model. Digital technologies have helped
improve the service capabilities manifold
by providing platforms to empower
customers to perform insurance related
transactions instantaneously at their own
convenience whilst allowing insurers to
offer services at the customers doorstep,
producing more sophisticated & robust
techniques for fraud detection.
The industry today is at the cusp of a
revolution as technology enables it to
move from reactive to preventive business
model. Connected devices, sensors and
Internet of things (IoT) based solutions are
allowing insurers to develop usage based
insurance offering and are facilitating
effective risk management. Bajaj Allianz
General Insurance set up the platform
for usage based insurance in India by
launching Drive Smart, a connected
device that offers real time feedback on
driving behavior and rewards good driving
behavior. The real time data ensures
greater availability of lifestyle, behavioral
and medical data at the insurers disposal.
This will lead to the development of
automated underwriting model by the use
of predictive analysis in almost all lines of
business. . The use of technology will also
see a greater impact in the claims process,
making it more efficient & fast.
In your opinion, what additional measures
could be undertaken by the government/
regulator to support the growth of the
Indian insurance industry?
The role of government and regulator
would be instrumental in addressing two
pressing issues. One is the rising health
care costs that have made it very difficult
for a common man to access affordable,
but quality health care financing options.
To address this issue, the government
can look at making it mandatory for
employers, both in organized and the
unorganized sector, irrespective of the
number of employees, to provide health
cover to everyone working for them.
Besides, a national health scheme by the
 Indias Leading BFSI Companies 2017

government especially for those from the
underprivileged sections of the society
would ensure that a sizeable population
is covered against unforeseen medical
exigencies
The second issue pertains to the huge
financial losses arising due to incidents of
catastrophes in the country. The last few
years have seen the damages caused by
floods in Chennai, J&K, Uttrakhand or the
HudHud Cyclone.
With the priority always being on financial
protection in case the earning member
of the family dies or someone in the
family meets with an accident, the often
overlooked fact is that what takes several
news of hard work to be created can
get washed away in matter of minutes
due to natures fury. In order to cover
the population at large against natural
disasters, the government can look at
offering affordable home insurance
scheme in association with insurance
companies that would cover losses to
property due to catastrophic events. An
index based policy similar to the weather
based crop insurance schemes, which will
compensate for the damage caused by the
natural catastrophe.
related crimes, the company is looking at
introducing cyber insurance covers that
offers protection to both individuals and
businesses.
What is Bajaj Allianz General Insurances
strategy for expansion and growth over
the next five years?
The companys vision for the next 5
years is to reach the remotest corners
of the country to improve awareness on
insurance a very important component of
an individuals financial security via various
digital initiatives. Our energies are focused
on strengthening our home and health
insurance portfolios as well as distribution
capabilities. While we look at sustainable
growth our product and innovation labs
will continue to churn out simple need
based covers and digital interfaces. These
interfaces will offer simplicity, speed
and convenience to our customers and
partners in their interactions as well as
insurance transactions. As insurers we
want to establish a clear leadership in
engaging with our customers beyond
insurance by being a part of their wellness
cycle and assisting them in effective risk
management.

A combination of these measures will

ensure that that citizens have access to
good health care and their assets, a result
of years of hard work, does not get wiped
away.

Brief us about your companys new

product launches planned for the current
year?
In the coming year the focus will be
towards offering customized solutions
and transforming their claim experience
with the company. While we are looking
at introducing new easy to understand
products in the health, home and travel
space that can be bought easily through
online and mobile channels, we are also
looking at launching a facility that will
enable customers to settle their own
claims within minutes. The coming year
will see usage based insurance solutions
in the health and home space using
connected devices. There is going to be
a high focus on promoting wellness and
preventive care. The company is also
looking at addressing the new age risks
that individuals are exposed too and
is looking at coming out with suitable
solutions. For instance, given that today
we are extremely vulnerable to cyber

Interviews I-3
Indias Leading BFSI Companies 2017
Shriram Transport Finance Company Limited
Kindly brief us about Shriram Transport
Finance Companys journey since
inception.
Our journey has seen us making several
innovations while we stood at the very
edge of organized finance. The banks
and institutions were guided by the
economists vision; the small truck owners
(STOs) who always fell on their blind side
was given the miss.
With a track record of about 38 years
Umesh Revankar
in this business, we are among the
Managing Director & CEO
leading organized finance providers for
the commercial vehicle industry, with a
focus to provide various credit facilities
to STOs. We have also added passenger
commercial vehicles, multi-utility vehicles,
three wheelers, tractors and construction
equipment to our portfolio, making us a
diversified, end-to-end provider of finance
solutions to the domestic road logistics
industry. Besides financing commercial
vehicles (both new and pre-owned) we
also extend finance for tyres, engine
replacement and working capital.
Our pan-India presence through our
widespread network of branches has
helped in our overall growth over the years.
As on Dec 31, 2016, we had 908 branches,
903 rural centres and tie-ups with over
560 private financiers across the country.
As on Dec 31, 2016, our total employee
strength was more than 16,000, including
more than 10,000 product executives and
collection executives who are colloquially
referred to as our field force.
We have demonstrated consistent growth
in our business and profitability. Our assets
under management have grown by CAGR
of ~16% from ` 40,218 crore in FY12 to
` 72,761 crore in FY16. Our total income
and profit after tax in FY16 stand at ` 10,245
crore and ` 1,178 crore, respectively.
Today we have approximately 20-
25% market share in pre-owned and
approximately 7-8% market share in new
truck financing, with more than 1.3 million
customers.
I - 4 Interviews
Your company is considered to be a
pioneer in the pre-owned commercial
vehicle financing. Give us a brief insight of
your major offerings. What new products
and services is your company planning to
offer in the near future?
We offer loans for the purchase of new/
used commercial vehicles, working capital
loans like tyre financing, engine repair,
personal loans, top-up loans, business
loans, SME loans, etc.
We believe in partnering with customers
throughout their journey from being a
driver owner to a fleet owner. We keep
in direct touch with our customers to
understand their requirements on the go
and to help them in their growth or to help
tackle their business problems.
Today we have approximately
20-25% market share in pre-
owned and approximately
7-8% market share in new
truck financing, with more
than 1.3 million customers.
The Indian government is increasingly
focusing on adopting digital technologies
in the financial industry. What is your
outlook on the adoption of digital
technologies over the next 5 years?
Customers expectations are generally
determined by other enterprises.
Integration of web, mobile, social, and
in-person customer service has increased
the level of expectations among the
customers today. Technology can make
financial operations easier and convenient.
Keeping this in mind, we have adopted the
following steps towards digitalization. A
customer can get his instalment payment
done through payment gateways, wallets,
UPI and with the swipe of his debit card.
The same is enabled on web and mobile
platforms. He can communicate to us about
his interest for any loan or other products.
We are able to witness a phenomenal shift

in our non-cash collection over the last
couple of months from what it used to be
earlier. We understand that large financial
entities including banks get more than
60% of digital traffic through mobile. The
financial industry also feels that mobile
will become the most popular consumer
channel in the future, and hence our digital
plans for the next five years are more
concentrated on the mobile platform for a
speedy customer service.
Customers will have provision to apply
for their loan requirements online. We
are confident of obtaining the required
documents for financing a commercial
vehicle by proper integration of our
system with UIDAI and Vaahan servers
through the Ministry of Transportation,
which will enable us to offer credit in the
shortest possible time. We have already
made headway with UIDAI on e-KYC
authentication. This will make the whole
lending process digital to a great extent.
We are expecting a seamless digital
registration of NACH mandates by the
customers through an authenticated OTP
process. We have already started working
with NPCI through our lead banks on the
same. This will lead to a drastic drop in
the turnaround time in the registration
process.
While demonetization has
posed some challenges for
the short term, we see huge
opportunities to fund and
help the unorganized finance
market and to bring them
together
All other service requests during the
loan period are also planned through
digital modes. Customers will be able
to send requests online for loan closure
and to receive the NOCs. The process of
endorsing our financial interest on the
vehicle and removal of the same digitally
is also underway. It will take momentum
on the readiness of government agencies
and this process will wipe out the usage of
physical RTA forms.
Interviews I-5
Indias Leading BFSI Companies 2017
Apart from the loan process and
maintenance, we are trying to build an
ecosystem with other service providers in
our app as below:-
Applying for Fast Tag and maintenance
for facilitating toll payments
Load management services
Facility to purchase tyres, lubricants,
etc., at discounted rates, tie-ups with
authorized mechanic garages for
vehicle repairs at competitive rates
Insurance needs for asset/s, business
and life
What do you think are the biggest
obstacles in Indias journey towards a
less-cash economy?
Banks and financial institutions need
to put huge infrastructure in place for
transactions through cards, mobiles. A
lot of education initiatives may need to
be undertaken. Internet services, which
currently stand at only 26% coverage in
India, need to expand at a rapid rate.
Though this is the biggest decision of this
government, continuous perusal would
be the key for success. This could be
termed as cultural shift. The Government
also needs to have a relook at its taxation
structure and make it easier to comply
with. Huge costs of audit and tax filing on
high frequency make it difficult for small
business owners to comply with 100%.
Tax brackets should be brought down as
more number of people and businesses
are brought into the tax net.
What are STFCs plans for expansion and
growth over the next five years?
We see huge opportunities ahead.
While demonetization has posed some
challenges for the short term, we see
huge opportunities to fund and help the
unorganized finance market and to bring
them together. We have also opened up
large avenues by starting a business loan
vertical, wherein we would like to encash
the potential of gaining larger share of our
customer wallet. Instead of only funding
for vehicle requirements, we would like to
go for full-fledged funding requirements
of our existing customers to start with.
We look forward to building up an AUM
of more than 1.2 lakh crore by the year
2020.
Indias Leading BFSI Companies 2017
Canara HSBC Oriental Bank of Commerce
Life Insurance Company
Kindly brief us on Canara HSBC OBC Life
Insurances bancassurance model. What
are the key factors that have contributed
to the success of the bancassurance
model?
We started business in 2008 and for the
past eight years, we have been operating
a bancassurance model.
For us, bancassurance is not a distribution
channel, it is a business model. Considering
the distribution strength, we launched a
pure bancassurance business model with
each aspect of the business customized
Anuj Mathur to the specific needs of the customers of
Chief Executive Officer distributing banks.
We have demonstrated the ability to
harness the potential of private and public
sector banks and have grown distribution
over the years. The company has spent
considerable time in understanding the
customer, the operating ecosystem and
the bank staff in each of the partner banks
to optimize. This has resulted in a good
understanding of the market on both the
buy-side and the sell-side, helping us to
create the fastest growing life insurance
company in India.
Kindly provide details of your product
portfolio. Which diverse groups do these
products cater to?
We have a good mix of products in
both ULIP and the Traditional space,
which cover needs such as wealth
accumulation, planned guaranteed
payouts and guaranteed monthly income.
Currently, we do see a higher proportion
of ULIPs in our portfolio as compared
to traditional plans, perhaps due to the
positive outcomes seen by our long-term
loyal ULIP customers and positive market
direction. Over a longer period, we do
see a balanced mix of traditional and
ULIPs based on our customer research
on product preferences, especially for
mass market customers where we believe
the risk appetite is lower. So overall, our
product pipeline looks very healthy.
The new set of products aim towards a
sharper customer proposition to address
key needs like retirement accumulation,
childrens education and marriage for
I - 6 Interviews
risk-averse customers, pure protection,
and guaranteed savings to plan for lifes
milestones. Also, at present we have our
product suite which caters to all relevant
customer segments; we are exploring
the possibility of designing customized
products for HNIs and NRIs.
What are the marketing strategies
employed by your company to reach out
to a larger audience?
Being a pure bancassurer, we only sell
to the customers of our partner banks
through their branch network. The
Companys brand Canara HSBC Oriental
Bank of Commerce Life Insurance has the
names of three of our partner banks and
that is our biggest USP. We seek to provide
the convenience of having ones banking
and insurance needs fulfilled under one
roof, from a brand that is well trusted.
Our marketing strategies are focused on
empowering the licensed branch staff to
provide effective life insurance solutions
to their customers by providing visibility
in and around the bank branch, through
simple and easy to use sales aids for
the bank staff. We also run 1,000+ OOH
screens out of selected Canara and OBC
bank branches. The screens are put at
prominent locations within the bank
branch. It has helped us create an instant
connect with customers.
Kindly provide the details of initiatives
taken in educating the customers and
increasing the transparency of sales.
Our policies are based on the fundamentals
of Treating customers fairly. The
Company is committed to delivering
Value for Money to the customers, which
is also an integral part of the corporate
strategy. This ensures that the customers
will always be first in every initiative
that we take. Be it at the sales stage or
during the processing stage or the entire
service cycle. A detailed needs analysis
and financial health-check is done to
ensure that the right product is pitched
for the right customer need. Customers
are provided with clear information and
are kept appropriately informed during
the entire product life cycle. We make
sure customers have a smooth post-sales
journey with respect to servicing needs

like switching funds, submitting claims,
etc. We have created various touch points
which are equipped to handle and assist all
servicing requests and queries efficiently.
We are cognizant that an engaged
customer is absolutely critical and hence
we have a comprehensive engagement
strategy which attempts to establish
a constant connect with the customer
throughout the policy cycle.
What are the specific strategies adopted
to reach out to the rural population, the
social sector and economically weaker
sections of the society?
Financial inclusion is an important agenda
of the Government of India, which
aims to deliver financial services at an
affordable cost to the vast sections of the
disadvantaged and low income groups
who have very little access to banking and
other financial products. Since inception,
the company has had a very strong focus
on financial inclusion and has always
exceeded its rural and social sector targets
mandated by the regulator on a year-on-
year basis.
The bancassurance business model has
enabled us reach out to the financially
vulnerable population, covering channel
partner bank customers having no-frill
accounts, members of self help groups,
micro-credit groups, joint liability groups
and tenant farmers groups. From our
own research, we have seen our banks
successfully activate over 90% of their
branch networks with a majority of
branches in non-metro locations. This
demonstrates that the bancassurance
model is working well and reaching all
segments of the community across the
vast length and breadth of the country.
In a continuous endeavor to achieve this
goal, we have been providing insurance
coverage through our micro insurance
product, Sampoorna Kavach Plan at a very
low and affordable premium of ` 100.
The enrolment process is very simple,
involving a single page application form
consisting of basic member details and
declaration of good health signed by the
customer. We are also in the process of
launching new traditional products in the
coming months, which would strengthen
the product offering for the customers of
these markets.
The Indian government is increasingly
focusing on adoption of digital
technologies in the financial industry.
Interviews I-7
Indias Leading BFSI Companies 2017
According to you, what opportunities
would the adoption of digital technologies
offer to the insurance industry?
The digital channel is cost effective,
addresses a specific segment which
prefers to deal in a non-physical manner
and has huge potential. The rapid
maturing of mobility based technology is
making it easier for customers to engage
with insurers. The consumers decision
making and buying pattern is evolving
from the traditional Physical-Physical to
a mix of Digital-Digital, Digital-Physical
and Physical-Digital. The benefit which a
consumer gets is immense - standardized
sales process, increased transparency,
multitude of options, customized solutions
and most importantly comprehensive
information to take an informed decision.
What are your companys plans for
expansion and growth over the next five
years?
Our vision is 1% penetration of customer
base of our distributor banks and 1 million
customers by the year 2020. We are a
blue blood bancassurance company and
over the past eight years have developed
sufficient expertise in this space. We will
continue to expand and grow this channel
as we believe it has a lot of potential still
waiting to be tapped. Our three partner
banks have a network of over 9,000
branches and a cumulative customer base
of 60 million. We havent yet scratched the
surface as our current penetration levels
are less than 1% of the customer base,
and hence there is so much more that we
can do. We have aggressive plans to reach
out to these customers so that we could
offer them our products. The next wave
of our growth will also ride on the Digital
platform. The e-commerce opportunity is
waiting to be tapped and Life Insurance
cannot be left behind. The channel
is cost effective, addresses a specific
segment which prefers to deal in a non
physical manner and has huge potential.
We have initiated measures to tap this
market aggressively, and look forward for
opportunities to emerge.
Indias Leading BFSI Companies 2017
SBI General Insurance Company Limited
The Indian insurance industry is set on a
growth trajectory as a result of growing
financial literacy. What are your views on
the opportunities in the Indian insurance
industry?
In the coming years, the General Insurance
(GI) industry will have a tremendous scope
for growth. GI growth by various estimates
is expected to be around 25%-30% in 2017.
This growth is to be fueled by the Crop,
Motor, Health, Personal Accident and Fire
insurance segments. Also, the Make in
Pushan Mahapatra
India initiative, Smart Cities initiative and
Managing Director
several other reforms are likely to provide
& Chief Executive Officer
a boost to the manufacturing sector,
which would translate to better business
for property and marine cargo insurance.
Further, with consumers becoming far
more technically savvy and aware, a shift
in the consumer mindset is expected. They
will prefer to have an Informed Purchase
of Insurance products rather than a
Consultative Purchase.
The Indian government is increasingly
focusing on adopting digital technologies
in the financial industry. How, according
to you, can the insurance industry
transform their businesses using these
technologies?
In its current state, the industry is already
moving towards increasing digital touch
points for customer acquisition and
customer servicing. Many experimental
projects are being conducted on this
front.
The next frontier for insurance companies
is to work towards datafication and using
that to control the value chain more
effectively. Sensors that test your health
on a regular frequency, sensors that alert
insurance companies about accidents
and their location are some of the cutting
edge technologies being tested across
the world. They would fundamentally
change how insurance is experienced and
perceived. An example of this could also
be trip delays which are covered under
travel insurance. As flight/train delay data
are now available digitally, would it make
sense for insurance companies to expect
that the customer files a claim for trip
delay? Insurance companies can directly
I - 8 Interviews
pay the claim to the customer even
without the customer filing for a claim.
The growth of the Digital Space is acting
as a catalyst for adoption of digital as a
buying and servicing platform for insurers
as well. Datafication (e.g. capturing driving
behaviour or health outcomes) is still in a
nascent stage, but over the medium to
long term would likely play a strong role
in influencing digital transactions. Social
media offers a great servicing outlet for
customers, as it is a convenient and user
friendly medium.
The general insurance industry is slowly
adopting these trends, and as consumers
are increasingly adopting e-commerce,
companies will create more advanced,
digital and alternate channels for their
consumers.
Brief us about your companys new
product launches planned for the current
year.
We have recently launched Long Term
Two-Wheeler Insurance through the
SBI network and are keenly working on
bringing this coverage to two-wheeler
owners across the country. The policy
offers comprehensive coverage for two-
wheelers, including damage to vehicle,
third party liability and personal accident.
We have also launched a comprehensive
liability product - Broad Form Liability
which has a wide range of inbuilt covers
for comprehensive protection against
the CGL and product liability risks. We
have a few products both on the retail
and commercial side planned for FY18.
We are planning to improve and bring
out a comprehensive health product for
bank customers. We have received the
regulators approval and in Q1FY18 would
be launching the Home Contents Package
cover for individuals intending to cover
their home contents against all possible
risks. On the commercial side, we intend
to broad base our offering on the property
insurance through various add on covers,
apart from a few liability insurance
covers.

Infrasoft Technologies Limited
Kindly brief us about the journey of
Infrasoft Technologies.
We started in mid-nineties with the vision
of creating innovative products for BFSI
industry. We focus on developing market
leading products Core Banking, RegTech
(Anti-Money Laundering, FATCA & Anti-
Fraud), Microfinance, Islamic Banking,
Loans Origination & Management,
Payments, Mobility and have expanded to
36 countries with over 450 client Banks.
Now we are in the age of Digital 2.0 and
Rajesh Mirjankar
our innovation DNA remains the same.
Managing Director
We are the quintessential startup and
& CEO
innovators.
The Indian government is increasingly
focusing on adopting digital payment
technologies in the financial industry.
What will be its long term impact on
Payments in India?
India will leapfrog into digital payments
bypassing plastic. Thats a certainty and
we are very excited to play a part in this.
UPI has been a game changer and we have
seen a huge jump in the transactions.
We believe that the adoption rate will
skyrocket through network effect as
both consumers and merchants become
more aware and adept. This will further
encourage new business models and
technologies such as voice payments,
hyperlocal offers and loyalty management,
shopping bots and payment bots to name a
few. There will also be huge accumulation
of consumer transaction data, where
artificial intelligence driven data analytics
will be used to drive competitive edge.
The potential is immense.
What else do you see as the growing
technology trends within BFSI Industry?
Our customers are partnering with us
to take them through the journey from
digital adoption to digital transformation
and then to digital innovation. The digital
innovation age will be driven by Big Data
and Artificial Intelligence. Bots will become
InfrasoftTech profile
InfrasoftTech is a pioneer in Fintech Digital Solutions with over 450 clients across 36 countries
including over 300 banks for their Core Banking & Payments Solutions of which 200 are on a
Cloud model, and over 160 Banks using their RegTech solutions. InfrasoftTech has launched
several digital solutions for the Fintech age banking including Mobility solutions, Bots,
Contactless Payments, AI based Anti-Fraud solutions, and Big Data Analytics.
Interviews I-9
Indias Leading BFSI Companies 2017
mainstream and the new-age Banking will
offer a complete 360 degree experience of
digitization that will include omnichannel,
predictive analytics, personalization, IoT
integration, augmented reality, digital
twins, social media integration, and virtual
reality. This is the roadmap on which we
are working with our customers.
There are also a lot of discussions taking
place on the use of Block chains in BFSI
industry. Do you see an opportunity
there?
Block Chain adoption is imminent but will
need banks to work in a wider partnership.
The regulatory framework also needs
to evolve and I think both of these have
already started to happen. IDRBT has
recently published a white paper on
applications of block chain technology in
India, some Banks have launched pilot
Business Use cases and SBI has taken the
initiative to push for Indias first Block
chain exploration consortium for Banks.
Block chain is the future and I see a huge
opportunity for technology innovators. It
will disrupt a lot of legacy systems such as
trade finance, asset management, clearing
and settlement, global payments systems,
KYC, compliance to name a few.
What is your take on the financial
inclusion drive? How can technology
accelerate this?
If the smallest banks in India also have the
access to the same technology at affordable
cost, then it will surely accelerate financial
inclusion and thats what we are driving
with our CBS, micro ATM, mobility and
payment solutions for small banks and
PACS. We were also the first to offer cloud
based CBS to drive technology adoption at
smaller banks. InfrasoftTech has been the
market leader in financial inclusion space
and we are committed to bring benefits of
digital technologies to the smallest banks
in India.
Indias Leading BFSI Companies 2017
IDBI Capital Markets & Securities Limited
Kindly give us a brief of various segments
in which IDBI Capital Markets operates.
Broadly, IDBI Capital provides services in
three major areas Investment Banking,
Institutional & Retail Broking and Portfolio
Management Services. In the Investment
Banking space, we provide services in
Capital Market transactions, M&A and
Private Equity (PE), Syndication of Debt
and Resolution of Stressed Assets.
On the Broking front IDBI Capital is
Nagaraj Garla empanelled with leading institutions
Managing Director as a preferred broker. We also service a
& CEO vast network of retail and HNI customers
and have alliances with leading banks to
extend the reach of our broking services
across India.
Brief us about companys new product
launches planned for the current year?
To improve our bouquet of services, we
are about to launch Portfolio Management
Services in Equity for our HNI Clients.
The same is in the advanced stages of
implementation. Simultaneously, we are
also entering into the Currency Derivatives
segment to cater to our retail clients. We
are increasing the feature list of our existing
trading products, and are also developing a
digital platform for onboarding of clients to
enable paperless account opening within
hours of uploading of documents. There
is potential in the stressed assets space,
clubbed with mergers & acquisitions and
backed by PE/buyout deals. We are also
exploring the Alternative Investment
Funds (AIF) space to increase our range of
services. In order to extend quality services
to our Investment Banking customers we
are moving to the CRM platform.
The Indian government is increasingly
focusing on adopting digital technologies
in the financial industry. How, according to
you, can broking industry transform their
businesses using these technologies?
The Indian brokerage industry is already
highly technology-oriented with the
whole process from trading to settlement
of trades being seamlessly electronic.
With the exchanges now having allowed
transfer/lien marking of stocks & funds
on mobile phones, the digital trading
mode is already gaining momentum. The
digital trading platforms are likely to easily
broaden and deepen over the next year
I - 10 Interviews
or so. Although the market share of these
platforms will improve only gradually,
these are clearly the way forward over
the next two years. Multiple investment
options and more product features will get
enabled on these platforms over the next
year or so, in turn increasing their market
share. With increased focus on digitization
and the effects of demonetization, the
Tier-II and Tier-III cities should be the areas
of focus in order to channelize the rich
sources of savings from such cities into the
securities market and mutual funds.
Kindly share IDBI Capital Markets
current financial performance. What are
your companys plans for expansion and
growth over the next five years?
The current years financial performance
so far is in line with the assigned targets.
There has been a quantum leap in the
brokerage revenue, both in retail as well as
institutional segments. During the year we
have extended our presence in some of
the Tier-I and Tier-II cities. Going forward,
we will continue to leverage corporate
relationships of our parent, as well as work
with leading public sector banks to scale up
M&A, PE & Capital Markets business and
Resolution of Stressed Assets. We are also
gearing up for our foray in the Middle East
region by opening an office in Dubai, and
are exploring collaboration with offshore
investment banks and advisory firms.
In your opinion what additional measures
should be undertaken by the regulator
to support the growth of Indian broking
industry?
At present the compliance costs are
phenomenally high, leaving brokers
with narrow margins. Support from the
regulator and centralized KYC rather
than multiple agencies (CKYC/KRA) can
substantially bring down costs. Further,
brokers are constrained to pass on such
costs to the investors. Reduced costs will
ultimately improve market participation.
New initiatives like digitalization of KYC
requirements (E-KYC) recently introduced
by the Regulator, while laudable need to
be looked at in a holistic perspective to
provide the intended ease to investors.
Issues like acceptance of POA in digital
form should also be taken by SEBI with
concerned departments.
 Indias Leading BFSI Companies 2017

Interesting facts about the New India

Assurance Company Limited and the
General Insurance industry in India
The sun never sets on New India Assurance, as it has a
presence in 28 countries across the globe, and one or the
other office works throughout the day

1. It is the First Indian insurer to commence its overseas

operations from its 2nd year of operation in 1920, when
telegraph was the fastest mode of communication; New
India opened branches in London and in New York

2. New India is the First Indian insurer to insure domestic

airlines (in 1946); aviation insurance was a business New
India entered in the 1920s, and when JRD Tata embarked on
his solo flight carrying mail from Karachi to Bombay in a Puss
Moth in 1932, New India had insured his plane

3. The First Indian satellite was insured by New India (in 1981);
India has launched 75 satellites until now, and one name
that has been associated with the Indian space programme
throughout has been New India; it is the pioneer of Satellite
Insurance in India and continues to be the leader

4. New India was the First Indian insurer with health insurance
policies even in the 1950s and early 1960s, and had a strong
Corporate Group Health Insurance portfolio! Two decades
later, New Indias Group Mediclaim policy for Citibank credit
card holders was a popular and much copied group scheme
in the 1980s

5. New India was the First to enter the General Insurance

business in Jammu and Kashmir in 1931, by insuring a new
palace built by Maharaja Hari Singh of Jammu and Kashmir
opposite the Dal Lake in Srinagar for a premium of ` 1.5 lakh
at that time

6. The First logo of New India depicted the political boundary

of the entire Indian Subcontinent as the country was in 1919.
New Indias logo itself has mirrored the map of India from its
initial days; the logos changed with the nation, reflecting the
aspirations of New India at every step in its progress

7. First to handle Hull Insurance of the Indian shipping fleet

8. First Indian insurer to set up an Engineering Insurance

department in India

Interviews I - 11
Indias Leading BFSI Companies 2017

I - 12 Interviews
L2 Alphabetical Listing Indias Leading BFSI Companies 2017

Indias Leading BFSI Companies 2017

Sr No Company Name Segment
1 A. K. Capital Services Limited NBFCs/FIs/Financial Services
2 AB Bank Limited Banks
3 Abu Dhabi Commercial Bank Banks
4 Aditya Birla Finance Limited NBFCs/FIs/Financial Services
5 Aditya Birla Housing Finance Limited NBFCs/FIs/Financial Services
6 Aditya Birla Money Limited Broking
7 Aegon Life Insurance Company Limited Life Insurance
8 Agriculture Insurance Company of India Limited Non-Life Insurance
9 Allahabad Bank Banks
10 American Express Banking Corp. Banks
11 Andhra Bank Banks
12 Andhra Pradesh State Financial Corporation NBFCs/FIs/Financial Services
13 Apollo Munich Health Insurance Company Limited Non-Life Insurance
14 Aspire Home Finance Corporation Limited NBFCs/FIs/Financial Services
15 Australia and New Zealand Banking Group Limited Banks
16 Aviva Life Insurance Company India Limited Life Insurance
17 Axis Asset Management Company Limited AMCs
18 Axis Bank Limited Banks
19 Axis Capital Limited Broking
20 Axis Finance Limited NBFCs/FIs/Financial Services
21 Axis Securities Limited Broking
22 Bajaj Allianz General Insurance Company Limited Non-Life Insurance
23 Bajaj Allianz Life Insurance Company Limited Life Insurance
24 Bajaj Finance Limited NBFCs/FIs/Financial Services
25 Bajaj Holdings & Investment Limited NBFCs/FIs/Financial Services
26 Balmer Lawrie Investments Limited NBFCs/FIs/Financial Services
27 Bandhan Bank Limited Banks
28 Bank of America, N.A. Banks
29 Bank of Bahrain & Kuwait B.S.C. Banks
Indias Leading BFSI Companies 2017 Alphabetical Listing L3

Sr No Company Name Segment

30 Bank of Baroda Banks
31 Bank of Ceylon Banks
32 Bank of India Banks
33 Bank of Maharashtra Banks
34 The Bank of Nova Scotia Banks
35 The Bank of Tokyo-Mitsubishi UFJ, Limited Banks
36 Barclays Bank PLC Banks
37 Baroda Pioneer Asset Management Company Limited AMCs
38 Bharatiya Mahila Bank Limited Banks
39 Bharti AXA General Insurance Company Limited Non-Life Insurance
40 Bharti AXA Life Insurance Company Limited Life Insurance
41 Birla Sun Life Asset Management Company Limited AMCs
42 Birla Sun Life Insurance Company Limited Life Insurance
43 BLB Limited Broking
44 BNP Paribas Banks
45 BNP Paribas Asset Management India Private Limited AMCs
46 BSE Limited NBFCs/FIs/Financial Services
47 Can Fin Homes Limited NBFCs/FIs/Financial Services
48 Canara Bank Banks
49 Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited Life Insurance
50 Canara Robeco Asset Management Company Limited AMCs
51 Capital First Limited NBFCs/FIs/Financial Services
52 The Catholic Syrian Bank Limited Banks
53 Central Bank of India Banks
54 Central Depository Services (India) Limited NBFCs/FIs/Financial Services
55 Cholamandalam Investment and Finance Company Limited NBFCs/FIs/Financial Services
56 Cholamandalam MS General Insurance Company Limited Non-Life Insurance
57 Cigna TTK Health Insurance Company Limited Non-Life Insurance
58 Citibank N.A. Banks
L4 Alphabetical Listing Indias Leading BFSI Companies 2017

Sr No Company Name Segment

59 City Union Bank Limited Banks
60 The Clearing Corporation of India Limited NBFCs/FIs/Financial Services
61 Commonwealth Bank Of Australia Banks
62 Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. Banks
63 Corporation Bank Banks
64 Credila Financial Services Private Limited NBFCs/FIs/Financial Services
65 Crdit Agricole Corporate & Investment Bank Banks
66 Credit Suisse AG Banks
67 CSL Finance Limited NBFCs/FIs/Financial Services
68 CTBC Bank Company, Limited Banks
69 DBS Bank Limited Banks
70 DCB Bank Limited Banks
71 Dena Bank Banks
72 Deutsche Bank AG Banks
73 Dewan Housing Finance Corporation Limited NBFCs/FIs/Financial Services
74 Dhanlaxmi Bank Limited Banks
75 DHFL Pramerica Life Insurance Company Limited Life Insurance
76 Doha Bank Banks
77 DSP BlackRock Investment Managers Private Limited AMCs
78 ECGC Limited Non-Life Insurance
79 ECL Finance Limited NBFCs/FIs/Financial Services
80 Edelweiss Broking Limited Broking
81 Edelweiss Finance & Investments Limited NBFCs/FIs/Financial Services
82 Edelweiss Financial Services Limited NBFCs/FIs/Financial Services
83 Edelweiss Housing Finance Limited NBFCs/FIs/Financial Services
84 Edelweiss Retail Finance Limited NBFCs/FIs/Financial Services
85 Edelweiss Securities Limited Broking
86 Edelweiss Tokio Life Insurance Company Limited Life Insurance
87 Emkay Global Financial Services Limited Broking
88 Exide Life Insurance Company Limited Life Insurance
89 Export-Import Bank of India NBFCs/FIs/Financial Services
90 Family Credit Limited NBFCs/FIs/Financial Services
91 The Federal Bank Limited Banks
Indias Leading BFSI Companies 2017 Alphabetical Listing L5

Sr No Company Name Segment

92 FirstRand Bank Limited Banks
93 Fullerton India Credit Company Limited NBFCs/FIs/Financial Services
94 Future Generali India Insurance Company Limited Non-Life Insurance
95 Future Generali India Life Insurance Company Limited Life Insurance
96 General Insurance Corporation of India Non-Life Insurance
97 Geojit Financial Services Limited Broking
98 GIC Housing Finance Limited NBFCs/FIs/Financial Services
99 GRUH Finance Limited NBFCs/FIs/Financial Services
100 HDB Financial Services Limited NBFCs/FIs/Financial Services
101 HDFC Asset Management Company Limited AMCs
102 HDFC Bank Limited Banks
103 HDFC ERGO General Insurance Company Limited Non-Life Insurance
104 HDFC General Insurance Limited Non-Life Insurance
105 HDFC Investments Limited NBFCs/FIs/Financial Services
106 HDFC Securities Limited Broking
107 HDFC Standard Life Insurance Company Limited Life Insurance
108 Hinduja Leyland Finance Limited NBFCs/FIs/Financial Services
109 The Hongkong and Shanghai Banking Corporation Limited Banks
110 Housing and Urban Development Corporation Limited NBFCs/FIs/Financial Services
111 Housing Development Finance Corporation Limited NBFCs/FIs/Financial Services
112 HSBC Asset Management (India) Private Limited AMCs
113 ICICI Bank Limited Banks
114 ICICI Home Finance Company Limited NBFCs/FIs/Financial Services
115 ICICI Lombard General Insurance Company Limited Non-Life Insurance
116 ICICI Prudential Asset Management Company Limited AMCs
117 ICICI Prudential Life Insurance Company Limited Life Insurance
118 ICICI Securities Limited Broking
119 ICICI Securities Primary Dealership Limited NBFCs/FIs/Financial Services
120 IDBI Asset Management Limited AMCs
121 IDBI Bank Limited Banks
122 IDBI Federal Life Insurance Company Limited Life Insurance
123 IDFC Asset Management Company Limited AMCs
124 IDFC Bank Limited Banks
L6 Alphabetical Listing Indias Leading BFSI Companies 2017

Sr No Company Name Segment

125 IDFC Limited NBFCs/FIs/Financial Services
126 IDFC Securities Limited Broking
127 IFCI Factors Limited NBFCs/FIs/Financial Services
128 IFCI Limited NBFCs/FIs/Financial Services
129 IFFCO-TOKIO General Insurance Company Limited Non-Life Insurance
130 IIFL Holdings Limited NBFCs/FIs/Financial Services
131 IL&FS Financial Services Limited NBFCs/FIs/Financial Services
132 India Infoline Finance Limited NBFCs/FIs/Financial Services
133 India Infoline Housing Finance Limited NBFCs/FIs/Financial Services
134 India Infoline Insurance Brokers Limited NBFCs/FIs/Financial Services
135 India Infoline Limited Broking
136 India Infrastructure Finance Company Limited NBFCs/FIs/Financial Services
137 Indiabulls Commercial Credit Limited NBFCs/FIs/Financial Services
138 Indiabulls Housing Finance Limited NBFCs/FIs/Financial Services
139 Indiabulls Ventures Limited Broking
140 IndiaFirst Life Insurance Company Limited Life Insurance
141 Indian Bank Banks
142 Indian Clearing Corporation Limited NBFCs/FIs/Financial Services
143 Indian Overseas Bank Banks
144 Indian Railway Finance Corporation Limited NBFCs/FIs/Financial Services
145 Indian Renewable Energy Development Agency Limited NBFCs/FIs/Financial Services
146 IndoStar Capital Finance Limited NBFCs/FIs/Financial Services
147 IndusInd Bank Limited Banks
148 Industrial and Commercial Bank of China Limited Banks
149 Intec Capital Limited NBFCs/FIs/Financial Services
150 Invesco Asset Management (India) Private Limited AMCs
151 The Jammu and Kashmir Bank Limited Banks
152 JM Financial Asset Management Limited AMCs
153 JM Financial Credit Solutions Limited NBFCs/FIs/Financial Services
154 JM Financial Limited NBFCs/FIs/Financial Services
155 JP Morgan Chase Bank N.A. Banks
156 The Karnataka Bank Limited Banks
157 Karnataka State Financial Corporation NBFCs/FIs/Financial Services
Indias Leading BFSI Companies 2017 Alphabetical Listing L7

Sr No Company Name Segment

158 The Karur Vysya Bank Limited Banks
159 KBC Bank NV Banks
160 KEB Hana Bank Banks
161 Kotak Mahindra Asset Management Company Limited AMCs
162 Kotak Mahindra Bank Limited Banks
163 Kotak Mahindra Investments Limited NBFCs/FIs/Financial Services
164 Kotak Mahindra Old Mutual Life Insurance Limited Life Insurance
165 Kotak Mahindra Prime Limited NBFCs/FIs/Financial Services
166 Kotak Securities Limited Broking
167 Krung Thai Bank Public Company Limited Banks
168 L&T Finance Limited NBFCs/FIs/Financial Services
169 L&T FinCorp Limited NBFCs/FIs/Financial Services
170 L&T Housing Finance Limited NBFCs/FIs/Financial Services
171 L&T Infra Debt Fund Limited NBFCs/FIs/Financial Services
172 L&T Infrastructure Finance Company Limited NBFCs/FIs/Financial Services
173 L&T Investment Management Limited AMCs
174 The Lakshmi Vilas Bank Limited Banks
175 Liberty Videocon General Insurance Company Limited Non-Life Insurance
176 LIC Housing Finance Limited NBFCs/FIs/Financial Services
177 LIC Mutual Fund Asset Management Limited AMCs
178 Life Insurance Corporation of India Life Insurance
179 LKP Finance Limited NBFCs/FIs/Financial Services
180 Magma Fincorp Limited NBFCs/FIs/Financial Services
181 MAGMA HDI General Insurance Company Limited Non-Life Insurance
182 Magma Housing Finance NBFCs/FIs/Financial Services
183 Mahindra & Mahindra Financial Services Limited NBFCs/FIs/Financial Services
184 Mahindra Rural Housing Finance Limited NBFCs/FIs/Financial Services
185 Manappuram Finance Limited NBFCs/FIs/Financial Services
186 Manipal Housing Finance Syndicate Limited NBFCs/FIs/Financial Services
187 Mashreqbank PSC Banks
188 Max Bupa Health Insurance Company Limited Non-Life Insurance
189 Max Life Insurance Company Limited Life Insurance
190 Mirae Asset Global Investments (India) Private Limited AMCs
L8 Alphabetical Listing Indias Leading BFSI Companies 2017

Sr No Company Name Segment

191 Mizuho Bank Limited Banks
192 Motilal Oswal Asset Management Company Limited AMCs
193 Motilal Oswal Financial Services Limited NBFCs/FIs/Financial Services
194 Motilal Oswal Securities Limited Broking
195 Muthoot Capital Services Limited NBFCs/FIs/Financial Services
196 Muthoot Finance Limited NBFCs/FIs/Financial Services
197 Muthoot Fincorp Limited NBFCs/FIs/Financial Services
198 Nabard Financial Services Limited NBFCs/FIs/Financial Services
199 The Nainital Bank Limited Banks
200 National Australia Bank Limited Banks
201 National Bank for Agriculture and Rural Development NBFCs/FIs/Financial Services
202 National Commodity & Derivatives Exchange Limited NBFCs/FIs/Financial Services
203 National Housing Bank NBFCs/FIs/Financial Services
204 National Insurance Company Limited Non-Life Insurance
205 The National Securities Clearing Corporation Limited NBFCs/FIs/Financial Services
206 National Securities Depository Limited NBFCs/FIs/Financial Services
207 The National Small Industries Corporation Limited NBFCs/FIs/Financial Services
208 National Stock Exchange of India Limited NBFCs/FIs/Financial Services
209 The New India Assurance Company Limited Non-Life Insurance
210 North Eastern Development Finance Corporation Limited NBFCs/FIs/Financial Services
211 Oriental Bank of Commerce Banks
212 The Oriental Insurance Company Limited Non-Life Insurance
213 Pilani Investment and Industries Corporation Limited NBFCs/FIs/Financial Services
214 PNB Gilts Limited NBFCs/FIs/Financial Services
215 PNB Housing Finance Limited NBFCs/FIs/Financial Services
216 PNB MetLife India Insurance Company Limited Life Insurance
217 Power Finance Corporation Limited NBFCs/FIs/Financial Services
218 Principal Pnb Asset Management Company Private Limited AMCs
219 PTC India Financial Services Limited NBFCs/FIs/Financial Services
220 Punjab & Sind Bank Banks
221 Punjab National Bank Banks
222 Raheja QBE General Insurance Company Limited Non-Life Insurance
223 RBL Bank Limited Banks
Indias Leading BFSI Companies 2017 Alphabetical Listing L9

Sr No Company Name Segment

224 Reliance Capital Limited NBFCs/FIs/Financial Services
225 Reliance General Insurance Company Limited Non-Life Insurance
226 Reliance Home Finance Limited NBFCs/FIs/Financial Services
227 Reliance Nippon Life Asset Management Limited AMCs
228 Reliance Nippon Life Insurance Company Limited Life Insurance
229 Reliance Securities Limited Broking
230 Religare Capital Markets Limited Broking
231 Religare Enterprises Limited NBFCs/FIs/Financial Services
232 Religare Finvest Limited NBFCs/FIs/Financial Services
233 Religare Health Insurance Company Limited Non-Life Insurance
234 Religare Housing Development Finance Corporation Limited NBFCs/FIs/Financial Services
235 The Royal Bank of Scotland N.V. Banks
236 Royal Sundaram General Insurance Company Limited Non-Life Insurance
237 Rural Electrification Corporation Limited NBFCs/FIs/Financial Services
238 S. E. Investments Limited NBFCs/FIs/Financial Services
239 Sahara India Life Insurance Company Limited Life Insurance
240 Sakthi Finance Limited NBFCs/FIs/Financial Services
241 Satin Creditcare Network Limited NBFCs/FIs/Financial Services
242 Sberbank Banks
243 SBI DFHI Limited NBFCs/FIs/Financial Services
244 SBI Funds Management Private Limited AMCs
245 SBI General Insurance Company Limited Non-Life Insurance
246 SBI Life Insurance Company Limited Life Insurance
247 SBM Bank (Mauritius) Limited Banks
248 SHCIL Services Limited Broking
249 Shinhan Bank Banks
250 Shriram City Union Finance Limited NBFCs/FIs/Financial Services
251 Shriram General Insurance Company Limited Non-Life Insurance
252 Shriram Housing Finance Limited NBFCs/FIs/Financial Services
253 Shriram Life Insurance Company Limited Life Insurance
254 Shriram Transport Finance Company Limited NBFCs/FIs/Financial Services
255 SICOM Limited NBFCs/FIs/Financial Services
256 Small Industries Development Bank of India NBFCs/FIs/Financial Services
L 10 Alphabetical Listing Indias Leading BFSI Companies 2017

Sr No Company Name Segment

257 SMC Global Securities Limited Broking
258 Societe Generale Banks
259 The South Indian Bank Limited Banks
260 SREI Infrastructure Finance Limited NBFCs/FIs/Financial Services
261 Standard Chartered Bank Banks
262 Star Health and Allied Insurance Company Limited Non-Life Insurance
263 Star Union Dai-Ichi Life Insurance Company Limited Life Insurance
264 State Bank of Bikaner & Jaipur Banks
265 State Bank of Hyderabad Banks
266 State Bank of India Banks
267 State Bank of Mysore Banks
268 State Bank of Patiala Banks
269 State Bank of Travancore Banks
270 STCI Finance Limited NBFCs/FIs/Financial Services
271 STCI Primary Dealer Limited NBFCs/FIs/Financial Services
272 Stock Holding Corporation of India Limited NBFCs/FIs/Financial Services
273 Sumitomo Mitsui Banking Corporation Banks
274 Sundaram Asset Management Company Limited AMCs
275 Sundaram BNP Paribas Home Finance Limited NBFCs/FIs/Financial Services
276 Sundaram Finance Limited NBFCs/FIs/Financial Services
277 Sustainable Agro-Commercial Finance Limited NBFCs/FIs/Financial Services
278 Syndicate Bank Banks
279 Tamilnad Mercantile Bank Limited Banks
280 Tata AIA Life Insurance Company Limited Life Insurance
281 Tata AIG General Insurance Company Limited Non-Life Insurance
282 Tata Asset Management Limited AMCs
283 Tata Capital Financial Services Limited NBFCs/FIs/Financial Services
284 Tata Capital Housing Finance Limited NBFCs/FIs/Financial Services
285 Tata Cleantech Capital Limited NBFCs/FIs/Financial Services
286 Tata Investment Corporation Limited NBFCs/FIs/Financial Services
287 Tata Motors Finance Limited NBFCs/FIs/Financial Services
288 Tata Motors Finance Solutions Limited NBFCs/FIs/Financial Services
289 Tourism Finance Corporation of India Limited NBFCs/FIs/Financial Services
Indias Leading BFSI Companies 2017 Alphabetical Listing L 11

Sr No Company Name Segment

290 UCO Bank Banks
291 Ujjivan Financial Services Limited NBFCs/FIs/Financial Services
292 Union Bank of India Banks
293 United Bank of India Banks
294 United India Insurance Company Limited Non-Life Insurance
295 United Overseas Bank Banks
296 Universal Sompo General Insurance Company Limited Non-Life Insurance
297 UTI Asset Management Company Limited AMCs
298 Vijaya Bank Banks
299 Vistaar Financial Services Private Limited NBFCs/FIs/Financial Services
300 Weizmann Forex Limited NBFCs/FIs/Financial Services
301 Westpac Banking Corporation Banks
302 Woori Bank Banks
303 Yes Bank Limited Banks

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 Toward Customized Banking: Winsofts unique
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Committed to Infotech for Indias 3rd largest private sector Bank!

In 2013, one of our customers, Indias 3rd largest private sector Winsofts SmartRP comprises of 5 basic building blocks:
bank, was trying to offer product customization to its corporate
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About Winsoft Technologies India Pvt Ltd.

Winsoft Technologies consistently drives positive business outcomes
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To know how we can help you, visit us at www.winsoftech.com or write us at
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Indias Leading BFSI Companies 2017 Total Income Listing 3

Indias Leading BFSI Companies 2017

Sr No Banks Sector Total Income (` mn)

1 State Bank of India Public 1,918,436.7

2 HDFC Bank Limited Private 709,731.7

3 ICICI Bank Limited Private 680,624.9

4 Punjab National Bank Public 543,013.7

5 Axis Bank Limited Private 503,595.0

6 Bank of Baroda Public 490,601.4

7 Canara Bank Public 488,973.6

8 Bank of India Public 454,490.1

9 Union Bank of India Public 358,305.4

10 IDBI Bank Limited Public 314,534.6

11 Central Bank of India Public 278,266.8

12 Indian Overseas Bank Public 260,455.5

13 Syndicate Bank Public 257,065.1

14 Oriental Bank of Commerce Public 218,249.9

15 Corporation Bank Public 211,464.0

16 Allahabad Bank Public 207,950.7

17 UCO Bank Public 201,572.8

18 Andhra Bank Public 191,991.5

19 Kotak Mahindra Bank Limited Private 189,964.2

20 Indian Bank Public 180,252.0

21 Yes Bank Limited Private 162,455.9

22 State Bank of Hyderabad Public 156,327.8

23 IndusInd Bank Limited Private 148,776.1

24 Bank of Maharashtra Public 140,722.8

25 Citibank N.A. Foreign 138,629.8

26 Vijaya Bank Public 129,574.4

27 Standard Chartered Bank Foreign 120,125.8

28 State Bank of Patiala Public 115,784.6

29 United Bank of India Public 114,042.0

4 Total Income Listing Indias Leading BFSI Companies 2017

Sr No Banks Sector Total Income (` mn)

30 Dena Bank Public 113,625.3

31 State Bank of Travancore Public 107,570.7

32 State Bank of Bikaner & Jaipur Public 106,495.2

33 The Hongkong and Shanghai Banking Corporation Limited Foreign 103,082.2

34 Punjab & Sind Bank Public 92,228.3

35 The Federal Bank Limited Private 85,310.7

36 State Bank of Mysore Public 79,378.5

37 The Jammu and Kashmir Bank Limited Private 73,476.0

38 The Karur Vysya Bank Limited Private 61,502.2

39 The South Indian Bank Limited Private 60,746.2

40 Deutsche Bank AG Foreign 59,131.9

41 The Karnataka Bank Limited Private 55,350.7

42 IDFC Bank Limited Private 40,520.3

43 Tamilnad Mercantile Bank Limited Private 35,706.7

44 City Union Bank Limited Private 33,541.9

45 RBL Bank Limited Private 32,348.5

46 The Lakshmi Vilas Bank Limited Private 28,728.3

47 JP Morgan Chase Bank N.A. Foreign 26,337.4

48 Bank of America, N.A. Foreign 25,996.4

49 BNP Paribas Foreign 24,012.1

50 DBS Bank Limited Foreign 23,718.8

51 Barclays Bank PLC Foreign 20,658.0

52 DCB Bank Limited Private 19,189.2

53 Bandhan Bank Limited Private 17,312.5

54 The Catholic Syrian Bank Limited Private 15,875.7

55 The Bank of Tokyo-Mitsubishi UFJ, Limited Foreign 14,777.8

56 The Royal Bank of Scotland N.V. Foreign 13,589.8

57 Dhanlaxmi Bank Limited Private 12,810.0

58 American Express Banking Corp. Foreign 10,488.8

59 Mizuho Bank Limited Foreign 8,372.6

60 Credit Suisse AG Foreign 8,123.4

61 The Bank of Nova Scotia Foreign 7,462.3

Indias Leading BFSI Companies 2017 Total Income Listing 5

Sr No Banks Sector Total Income (` mn)

62 Sumitomo Mitsui Banking Corporation Foreign 6,546.1

63 The Nainital Bank Limited Private 5,650.6

64 Crdit Agricole Corporate & Investment Bank Foreign 5,082.4

65 Societe Generale Foreign 4,814.0

66 Australia and New Zealand Banking Group Limited Foreign 4,300.5

67 Shinhan Bank Foreign 3,591.4

68 Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. Foreign 2,473.8

69 Abu Dhabi Commercial Bank Foreign 2,068.4

70 Westpac Banking Corporation Foreign 1,724.0

71 Bharatiya Mahila Bank Limited Public 1,716.1

72 FirstRand Bank Limited Foreign 1,621.7

73 SBM Bank (Mauritius) Limited Foreign 1,430.5

74 Industrial and Commercial Bank of China Limited Foreign 1,391.5

75 Bank of Bahrain & Kuwait B.S.C. Foreign 1,364.9

76 United Overseas Bank Foreign 1,164.0

77 Woori Bank Foreign 772.3

78 National Australia Bank Limited Foreign 634.3

79 CTBC Bank Company, Limited Foreign 598.7

80 Mashreqbank PSC Foreign 444.5

81 Sberbank Foreign 437.1

82 KBC Bank NV Foreign 423.3

83 Bank of Ceylon Foreign 414.8

84 Doha Bank Foreign 402.0

85 AB Bank Limited Foreign 357.8

86 KEB Hana Bank Foreign 344.8

87 Commonwealth Bank Of Australia Foreign 293.2

88 Krung Thai Bank Public Company Limited Foreign 278.1

6 Total Income Listing Indias Leading BFSI Companies 2017

Public Banks

Sr No Banks Total Income (` mn)

1 State Bank of India 1,918,436.7

2 Punjab National Bank 543,013.7

3 Bank of Baroda 490,601.4

4 Canara Bank 488,973.6

5 Bank of India 454,490.1

6 Union Bank of India 358,305.4

7 IDBI Bank Limited 314,534.6

8 Central Bank of India 278,266.8

9 Indian Overseas Bank 260,455.5

10 Syndicate Bank 257,065.1

11 Oriental Bank of Commerce 218,249.9

12 Corporation Bank 211,464.0

13 Allahabad Bank 207,950.7

14 UCO Bank 201,572.8

15 Andhra Bank 191,991.5

16 Indian Bank 180,252.0

17 State Bank of Hyderabad 156,327.8

18 Bank of Maharashtra 140,722.8

19 Vijaya Bank 129,574.4

20 State Bank of Patiala 115,784.6

21 United Bank of India 114,042.0

22 Dena Bank 113,625.3

23 State Bank of Travancore 107,570.7

24 State Bank of Bikaner & Jaipur 106,495.2

25 Punjab & Sind Bank 92,228.3

26 State Bank of Mysore 79,378.5

27 Bharatiya Mahila Bank Limited 1,716.1

Indias Leading BFSI Companies 2017 Total Income Listing 7

Private Banks

Sr No Banks Total Income (` mn)

1 HDFC Bank Limited 709,731.7

2 ICICI Bank Limited 680,624.9

3 Axis Bank Limited 503,595.0

4 Kotak Mahindra Bank Limited 189,964.2

5 Yes Bank Limited 162,455.9

6 IndusInd Bank Limited 148,776.1

7 The Federal Bank Limited 85,310.7

8 The Jammu and Kashmir Bank Limited 73,476.0

9 The Karur Vysya Bank Limited 61,502.2

10 The South Indian Bank Limited 60,746.2

11 The Karnataka Bank Limited 55,350.7

12 IDFC Bank Limited 40,520.3

13 Tamilnad Mercantile Bank Limited 35,706.7

14 City Union Bank Limited 33,541.9

15 RBL Bank Limited 32,348.5

16 The Lakshmi Vilas Bank Limited 28,728.3

17 DCB Bank Limited 19,189.2

18 Bandhan Bank Limited 17,312.5

19 The Catholic Syrian Bank Limited 15,875.7

20 Dhanlaxmi Bank Limited 12,810.0

21 The Nainital Bank Limited 5,650.6

8 Total Income Listing Indias Leading BFSI Companies 2017

Foreign Banks

Sr No Banks Total Income (` mn)

1 Citibank N.A. 138,629.8

2 Standard Chartered Bank 120,125.8

3 The Hongkong and Shanghai Banking Corporation Limited 103,082.2

4 Deutsche Bank AG 59,131.9

5 JP Morgan Chase Bank N.A. 26,337.4

6 Bank of America, N.A. 25,996.4

7 BNP Paribas 24,012.1

8 DBS Bank Limited 23,718.8

9 Barclays Bank PLC 20,658.0

10 The Bank of Tokyo-Mitsubishi UFJ, Limited 14,777.8

11 The Royal Bank of Scotland N.V. 13,589.8

12 American Express Banking Corp. 10,488.8

13 Mizuho Bank Limited 8,372.6

14 Credit Suisse AG 8,123.4

15 The Bank of Nova Scotia 7,462.3

16 Sumitomo Mitsui Banking Corporation 6,546.1

17 Crdit Agricole Corporate & Investment Bank 5,082.4

18 Societe Generale 4,814.0

19 Australia and New Zealand Banking Group Limited 4,300.5

20 Shinhan Bank 3,591.4

21 Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. 2,473.8

22 Abu Dhabi Commercial Bank 2,068.4

23 Westpac Banking Corporation 1,724.0

24 FirstRand Bank Limited 1,621.7

25 SBM Bank (Mauritius) Limited 1,430.5

26 Industrial and Commercial Bank of China Limited 1,391.5

27 Bank of Bahrain & Kuwait B.S.C. 1,364.9

28 United Overseas Bank 1,164.0

29 Woori Bank 772.3

Indias Leading BFSI Companies 2017 Total Income Listing 9

Sr No Banks Total Income (` mn)

30 National Australia Bank Limited 634.3

31 CTBC Bank Company, Limited 598.7

32 Mashreqbank PSC 444.5

33 Sberbank 437.1

34 KBC Bank NV 423.3

35 Bank of Ceylon 414.8

36 Doha Bank 402.0

37 AB Bank Limited 357.8

38 KEB Hana Bank 344.8

39 Commonwealth Bank Of Australia 293.2

40 Krung Thai Bank Public Company Limited 278.1

Indias Leading BFSI Companies 2017 Total Business Listing 11

Indias Leading BFSI Companies 2017

Sr No Banks Sector Total Business (` mn)

1 State Bank of India Public 31,944,228.5

2 HDFC Bank Limited Private 10,110,181.5

3 Punjab National Bank Public 9,653,769.3

4 Bank of Baroda Public 9,578,080.5

5 Bank of India Public 8,721,934.8

6 ICICI Bank Limited Private 8,566,896.5

7 Canara Bank Public 8,045,063.9

8 Axis Bank Limited Private 6,967,412.8

9 Union Bank of India Public 6,100,740.1

10 IDBI Bank Limited Public 4,816,132.8

11 Syndicate Bank Public 4,631,038.3

12 Central Bank of India Public 4,461,937.8

13 Indian Overseas Bank Public 3,853,749.1

14 Oriental Bank of Commerce Public 3,577,948.1

15 Allahabad Bank Public 3,530,164.5

16 Corporation Bank Public 3,454,930.8

17 UCO Bank Public 3,330,236.1

18 Indian Bank Public 3,073,349.2

19 Andhra Bank Public 3,050,902.9

20 Kotak Mahindra Bank Limited Private 2,573,083.2

21 State Bank of Hyderabad Public 2,482,394.1

22 Bank of Maharashtra Public 2,465,524.9

23 Vijaya Bank Public 2,144,276.8

24 Yes Bank Limited Private 2,099,294.6

25 Dena Bank Public 1,997,593.0

26 State Bank of Patiala Public 1,891,393.7

27 United Bank of India Public 1,844,614.8

28 IndusInd Bank Limited Private 1,814,196.9

29 State Bank of Bikaner & Jaipur Public 1,669,323.1

12 Total Business Listing Indias Leading BFSI Companies 2017

Sr No Banks Sector Total Business (` mn)

30 State Bank of Travancore Public 1,665,850.7

31 Citibank N.A. Foreign 1,617,658.7

32 Punjab & Sind Bank Public 1,551,660.4

33 The Hongkong and Shanghai Banking Corporation Limited Foreign 1,429,140.9

34 Standard Chartered Bank Foreign 1,417,291.1

35 The Federal Bank Limited Private 1,372,618.5

36 State Bank of Mysore Public 1,245,224.7

37 The Jammu and Kashmir Bank Limited Private 1,195,835.4

38 The South Indian Bank Limited Private 968,064.8

39 The Karur Vysya Bank Limited Private 891,632.8

40 Deutsche Bank AG Foreign 869,630.5

41 The Karnataka Bank Limited Private 843,906.6

42 IDFC Bank Limited Private 539,184.8

43 Tamilnad Mercantile Bank Limited Private 529,465.8

44 City Union Bank Limited Private 482,150.5

45 RBL Bank Limited Private 455,777.3

46 The Lakshmi Vilas Bank Limited Private 450,747.0

47 BNP Paribas Foreign 420,768.6

48 DBS Bank Limited Foreign 410,806.3

49 Barclays Bank PLC Foreign 318,255.9

50 DCB Bank Limited Private 278,473.7

51 JP Morgan Chase Bank N.A. Foreign 267,005.2

52 Bank of America, N.A. Foreign 253,850.0

53 Bandhan Bank Limited Private 245,262.9

54 The Catholic Syrian Bank Limited Private 222,910.5

55 Dhanlaxmi Bank Limited Private 183,064.4

56 The Bank of Tokyo-Mitsubishi UFJ, Limited Foreign 159,203.7

57 Mizuho Bank Limited Foreign 146,088.9

58 The Royal Bank of Scotland N.V. Foreign 115,013.7

59 The Bank of Nova Scotia Foreign 96,400.5

60 Credit Suisse AG Foreign 85,173.8

61 Sumitomo Mitsui Banking Corporation Foreign 81,746.0

Indias Leading BFSI Companies 2017 Total Business Listing 13

Sr No Banks Sector Total Business (` mn)

62 The Nainital Bank Limited Private 79,966.7

63 Crdit Agricole Corporate & Investment Bank Foreign 76,766.2

64 Societe Generale Foreign 71,109.3

65 Shinhan Bank Foreign 68,100.1

66 Australia and New Zealand Banking Group Limited Foreign 47,242.7

67 Abu Dhabi Commercial Bank Foreign 40,800.8

68 American Express Banking Corp. Foreign 40,682.8

69 Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. Foreign 33,223.6

70 Westpac Banking Corporation Foreign 24,198.3

71 Bank of Bahrain & Kuwait B.S.C. Foreign 21,482.4

72 Industrial and Commercial Bank of China Limited Foreign 17,976.0

73 SBM Bank (Mauritius) Limited Foreign 15,987.2

74 Bharatiya Mahila Bank Limited Public 15,485.0

75 United Overseas Bank Foreign 15,166.8

76 FirstRand Bank Limited Foreign 10,968.2

77 CTBC Bank Company, Limited Foreign 9,317.1

78 Woori Bank Foreign 7,334.0

79 Doha Bank Foreign 6,460.4

80 Commonwealth Bank Of Australia Foreign 3,982.1

81 Bank of Ceylon Foreign 3,944.8

82 Sberbank Foreign 3,860.6

83 Krung Thai Bank Public Company Limited Foreign 3,367.5

84 KEB Hana Bank Foreign 3,262.6

85 Mashreqbank PSC Foreign 3,156.8

86 AB Bank Limited Foreign 2,127.8

87 National Australia Bank Limited Foreign 1,034.9

88 KBC Bank NV Foreign 374.0

Indias Leading BFSI Companies 2017

AB Bank Limited
Liberty Building, 41-42, Sir Vithaldas Thackersey Marg, New Marine Lines, Mumbai - 400020, Maharashtra
Website: www.abbl.com

Business Profile and Millionaire Scheme Account (MSA). The Dun & Bradstreet D-U-N-S No 86-226-1513
AB Bank Ltd (ABBL) was incorporated in retail loan products offered by the bank include Financials (` mn)
Bangladesh in 1981 and started its operation personal loan, education loan and home loan
Total Income 357.8
in April 1982. It established its first full-fledged among others.
overseas branch at Mumbai, India in the year Total Business 2,127.8
1996. ABBL primarily operates in retail banking,
Net Profit 70.9
SME banking, corporate banking, project finance
and Islamic banking among others. Under the Key Ratios (%)
retail banking, the bank offers deposit products
TI Growth (y-o-y) 5.1
such as Max Saver, Double Deposit Scheme
(DDS), Monthly Saving Deposit Scheme (MSDS) Business Growth (y-o-y) 8.4
(As on Mar 31, 2016)

Abu Dhabi Commercial Bank

Rehmat Manzil, 75, Veer Nariman Road, Churchgate, Mumbai - 400020, Maharashtra
Website: www.adcbindia.com

Business Profile deposit services. Treasury operations include Dun & Bradstreet D-U-N-S No 65-028-0100
Abu Dhabi Commercial Bank (ADCB) started its investment portfolio and foreign exchange Financials (` mn)
India operations in 1980 as Emirates Commercial operations. Under corporate banking, the
Total Income 2,068.4
Bank in Mumbai. In 1985, ADCB was formed bank undertakes lending activities including
after the merger of three commercial banks trade finance to borrowers. The retail banking Total Business 40,800.8
operating in the UAE viz. Khaleej Commercial business of the bank undertakes depository
Net Profit 172.2
Bank, Emirates Commercial Bank and Federal activities, portfolio investment activities,
Commercial Bank. ADCB in India operates in lending activity to individuals and SMEs along Key Ratios (%)
three business segments viz. retail, corporate with mobilisation of deposits. It operates
TI Growth (y-o-y) 5.5
and treasury operations. Under personal through branches in India located at Mumbai
banking, it offers savings account and fixed and Bengaluru. Business Growth (y-o-y) 9.7
(As on Mar 31, 2016)

Allahabad Bank
2, Netaji Subhas Road, Kolkata - 700001, WB
Website: www.allahabadbank.com

Business Profile Savings Bank account with an Android based Dun & Bradstreet D-U-N-S No 65-007-7050
Allahabad Bank (Allahabad Bank) was founded smartphone named All bank Selfie. It deployed Financials (` mn)
on April 24, 1865 and in October 2002 it came 42 new ATMs in FY16 thus bringing the total
Total Income 207,950.7
out with Initial Public Offer (IPO). Allahabad number of ATMs to 1,212 as on Mar 31, 2016.
Bank is well spread out in India and one overseas Allahabad Bank also launched RuPay Platinum Total Business 3,530,164.5
Branch at Hong Kong, besides a Representative Debit Card (International) in FY16. As on Mar
Net Profit (7,433.1)
office at Shenzhen, China. It provides personal 31, 2016, the bank had a total of 3,209 domestic
banking, social banking, MSME banking, branches. Key Ratios (%)
Retail credit products, corporate banking
TI Growth (y-o-y) (4.2)
and international banking facilities. The bank
has launched a new product for opening of Business Growth (y-o-y) 2.8
(As on Mar 31, 2016)

American Express Banking Corp.

Cyber City, Tower-C, DLF Bldg. No.8, Sector-25, DLF City Ph-II, Gurgaon - 122002, Haryana
Website: www.americanexpress.com/in

Business Profile American Express Platinum Corporate Card, Dun & Bradstreet D-U-N-S No 67-615-9269
American Express Banking Corp. (American The American Express Corporate Card, The Financials (` mn)
Express) operates in India under two major American Express Purchasing Solutions and The
Total Income 10,488.8
business segments viz. treasury operations NEW Jet Airways American Express Corporate
and banking operations. Under treasury Card. It also provides business travel account Total Business 40,682.8
operations, American Express provides services and corporate membership reward scheme,
Net Profit (251.3)
like investments for statutory liquid ratio streamline payments to merchants and travel,
requirements etc. Under banking operations, motor, health and personal accident insurance Key Ratios (%)
the bank provides products like card operations, schemes. During June 2016, it entered into
TI Growth (y-o-y) 21.0
travelers cheques distribution and institutional alliance with SBI to expand the acceptance of
deposits. For its corporate clients, it offers The the bank cards amongst merchants in India. Business Growth (y-o-y) 21.1
(As on Mar 31, 2016)

14
 Indias Leading BFSI Companies 2017

Andhra Bank
Dr. Pattabhi Bhavan, 5-9-11, Saifabad, Hyderabad - 500004, Telangana
Website: www.andhrabank.in

Business Profile activities including various schemes such as AB Dun & Bradstreet D-U-N-S No 65-033-2562
Andhra Bank (Andhra Bank), incorporated Kisan Rakshak, AB Kisan Chakra and AB Kisan Financials (` mn)
in 1923 primarily operates under retail, Vikas Cards among others. Under MSME, the
Total Income 191,991.5
corporate, NRI, agriculture and MSME banking bank provides term finance, open cash credit
segments. Under retail banking, Andhra Bank and composite loan schemes to MSMEs. During Total Business 3,050,902.9
offers deposit schemes, retail loans such as FY16, Andhra Bank opened 296 Branches and
Net Profit 5,398.4
housing, vehicle, personal, mortgage loans added 1,404 ATMs/BNAs/CRs. The bank in
etc. Under corporate banking, it offers services association with BSNL and Pyro has successfully Key Ratios (%)
such as working capital loans, bill financing, launched the cobranded prepaid card SpeedPay
TI Growth (y-o-y) 7.4
term financing among others. Andhra bank and launched a cobranded wallet with M/s
provides loan facilities for agricultural and allied Citrus during the year. Business Growth (y-o-y) 8.6
(As on Mar 31, 2016)

Australia and New Zealand Banking Group Limited

Cnergy, 6th Floor, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025, Maharashtra
Website: www.anz.com/india

Business Profile markets solutions. The bank offers institutional Dun & Bradstreet D-U-N-S No 65-063-2651
Australia and New Zealand Banking Group Ltd banking services such as Indian Rupee and Financials (` mn)
(ANZ) commenced banking operations in India foreign currency services, working capital and
Total Income 4,300.5
with the opening of its first branch in Mumbai in term financing, transaction banking, foreign
June 2011 and in May 2014, the bank received exchange and interest rate solutions, deposits Total Business 47,242.7
approval from the Reserve Bank of India (RBI) and advisory services. It also offers economic &
Net Profit 475.6
to open new branches in Gurgaon and in market research and financial market solutions.
outer Bengaluru. ANZ offers various corporate The bank offers various loan products such as Key Ratios (%)
banking products and services such as trade vanilla short-term debt, working capital & term
TI Growth (y-o-y) 5.5
& supply chain solutions, cash management loan among others.
services, financing services and financial Business Growth (y-o-y) 5.3
(As on Mar 31, 2016)

Axis Bank Limited

Trishul, 3rd Floor, Opp. Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad 380006, Gujarat
Website: www.axisbank.com

Business Profile domestic branches and 12,743 ATMs spread Dun & Bradstreet D-U-N-S No 72-520-8792
Axis Bank Ltd (Axis Bank) is a private sector across the country. The overseas operations Financials (` mn)
bank in India, incorporated in 1993 and of the bank are spread over nine international
Total Income 503,595.0
commenced its operations in 1994. The Bank offices with branches at Singapore, Hong Kong,
offers financial services to various customer Dubai, Colombo and Shanghai; representative Total Business 6,967,412.8
segments covering large and mid-corporates, offices at Dhaka, Dubai, Abu Dhabi and an
Net Profit 82,236.6
MSME, agriculture and retail businesses. There overseas subsidiary at London, UK. During June
are varieties of products, services and payment 2016, Axis Bank signed a MoU with Kasikorn Key Ratios (%)
facilities offered such as accounts, cards, loans, Bank, Thailand which will facilitate trade flows
TI Growth (y-o-y) 14.9
forex, investments, and insurance amongst between India and Thailand.
others. As on Mar 31, 2016, the bank has 2,904 Business Growth (y-o-y) 15.4
(As on Mar 31, 2016)

Bandhan Bank Limited

DN 32, Sector V, Salt Lake City, Kolkata - 700091, WB
Website: www.bandhanbank.com

Business Profile accounts as well as Biz premium, Biz advantage Dun & Bradstreet D-U-N-S No 65-094-3868
Bandhan Bank Ltd (Bandhan Bank) was and Biz Samruddhi current accounts, among Financials (` mn)
incorporated in Dec 2014 as a wholly-owned others. Bandhan Bank also provides loans like
Total Income 17,312.5
subsidiary of Bandhan Financial Holdings Ltd retail and MSMEs loans, Microloans and Agri
which is owned by Bandhan Financial Services loans. The bank offers its banking products Total Business 245,262.9
Ltd (BFSL). Bandhan Bank received the approval and services to urban, semi-urban and rural
Net Profit 2,752.5
of the Reserve Bank of India (RBI) for setting up customers alike. Bandhan Bank has a network
a universal bank in Apr 2014. The bank works of 2,022 branches spread across 22 Indian Key Ratios (%)
in three main segments namely accounts, loans states and Union territories.
TI Growth (y-o-y) NA
and deposits. Under accounts, it offers products
such as premium, standard and Sanchay savings Business Growth (y-o-y) NA
(As on Mar 31, 2016)

15
Indias Leading BFSI Companies 2017

Bank of America, N.A.

Express Tower, Ground, 1st, 18th & 19th Floor, Nariman Point, Mumbai - 400021, Maharashtra
Website: http://www.bofaml.com/en-us/content/apac-india.html

Business Profile two business segments viz. treasury banking Dun & Bradstreet D-U-N-S No 65-036-9341
Bank of America, N.A. (BoA) started its operations and corporate banking. Treasury operations Financials (` mn)
in India through its Mumbai branch in 1964. include derivative trading, money market
Total Income 25,996.4
Headquartered in Mumbai, the bank operates operations, investments in bonds, treasury bills,
in India through five branches located across Government securities and foreign exchange Total Business 253,850.0
Mumbai, New Delhi, Kolkata, Chennai, and operations among others. Corporate banking
Net Profit 7,098.7
Bengaluru. BoA offers a comprehensive suite of includes funded and non-funded facilities to
financial products and solutions including a full customers, cash management activities and Key Ratios (%)
range of banking, investing, asset management other fee-based activities among others. During
TI Growth (y-o-y) 12.8
and other financial and risk management FY15, the bank launched Bank of America Down
products and services. It primarily operates in Payment Resource Centre a web-based tool. Business Growth (y-o-y) 34.7
(As on Mar 31, 2016)

Bank of Bahrain & Kuwait B.S.C.

Jolly Maker Chamber II, 225, Nariman Point, Mumbai - 400021, Maharashtra
Website: www.bbkindia.com

Business Profile & advances to corporate and investments in Dun & Bradstreet D-U-N-S No 91-533-2118
Bank of Bahrain & Kuwait B.S.C. (BBK) was corporate bonds etc. Treasury operations consist Financials (` mn)
established in Mar, 1971, in Bahrain. In 1978, it of trading/investment in bonds & Government
Total Income 1,364.9
opened its first overseas branch in Kuwait. BBK securities and dealing room operations among
has presence in India since 1986 as a SCB and others. Retail banking primarily comprises of Total Business 21,482.4
set up its branches in Mumbai and Hyderabad. retail loans and advances to its customers. The
Net Profit 12.4
It also has branches in Aluva, Kerala and New bank also offers services such as working capital
Delhi. BBK in India primarily operates in three finance, trade finance, and long term finance Key Ratios (%)
business segments viz. corporate banking, and term loans among others.
TI Growth (y-o-y) 13.5
treasury and retail banking. Corporate banking
services primarily consist of wholesale loans Business Growth (y-o-y) 7.6
(As on Mar 31, 2016)

Bank of Baroda
Baroda House, Mandvi, Vadodara - 390006, Gujarat
Website: www.bankofbaroda.com

Business Profile FCNRB loans, Trade finance etc; SME offerings Dun & Bradstreet D-U-N-S No 65-021-5903
Bank of Baroda (BoB) was incorporated in the like Baroda Vidyasthali Loan, Baroda Weavers Financials (` mn)
year 1908 and provides variety of banking Credit Card amongst many services, and Rural
Total Income 490,601.4
solutions such as Deposits, Loans & Advances, banking, NRI Services and Treasury like Forex
Collection Services, Working Capital Finance, operations. During 2016, the bank implemented Total Business 9,578,080.5
Term Finance, Non-Fund based Facilities, Trade E-KYC at branches and business correspondence
Net Profit (53,955.4)
Finance and Merchant Banking. The product points. It also installed 945 additional ATMs
and services includes personal offerings like during the year. It has a wide network of 1,964 Key Ratios (%)
fixed and recurring deposit, credit & debit rural branches and 1,425 semi-urban branches,
TI Growth (y-o-y) 3.6
card amongst few; corporate offerings like 60 overseas branches as on Mar 31, 2016.
wholesale, loans etc; international offerings like Business Growth (y-o-y) (8.4)
(As on Mar 31, 2016)

Bank of Ceylon
No. 20/21, Casa Major Road, Zerald Garden, 2nd Lane, Egmore, Chennai - 600008, TN
Website: www.bankofceylon.in

Business Profile namely corporate and retail. Some of the Dun & Bradstreet D-U-N-S No 91-533-2113
Bank of Ceylon (BOC) is the leading commercial financing products offered by the bank under Financials (` mn)
Bank in Sri Lanka owned by the Government of the corporate banking include term loans,
Total Income 414.8
Sri Lanka. BOC was incorporated in Aug 1939. export credit, import finance, bank guarantee
In 1995, it expanded its foreign operations by and letter of credit. BOC operates through a Total Business 3,944.8
opening its branch in India. The bank provides single branch in Chennai in India.
Net Profit 147.5
diversified products and services including
retail banking, wholesale banking, international Key Ratios (%)
banking, investment banking, credit facilities,
TI Growth (y-o-y) 7.0
credit cards and pawn broking services. In India,
the bank offers two types of credit advances Business Growth (y-o-y) 5.8
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

Bank of India
Star House, C5/G Block, BKC, Bandra (E), Mumbai - 400051, Maharashtra
www.bankofindia.co.in

Business Profile OD accounts; it also introduced Instant Money Dun & Bradstreet D-U-N-S No 65-005-6880
Bank of India (BoI) was founded on 7th Transfer Facility (IMTF). As on Mar 31, 2016, Financials (` mn)
September, 1906 in Mumbai. The bank was the bank had 5,016 domestic branches across
Total Income 454,490.1
nationalised in 1969. BOI business segments the country and 61 branches overseas. It also
include treasury operations, wholesale banking introduced RuPay Platinum Cards, platinum Total Business 8,721,934.8
and retail banking. In FY15, the bank introduced credit cards and launched mVisa mobile
Net Profit (60,892.1)
virtual cards for e-commerce; PayWave- Tap payment solution during 2016. During FY16,
and go contactless payment systems; self- BoI integrated its operating system with Vidya Key Ratios (%)
service kiosks Bar coded passbooks; BoI Lakshmi Portal, a GoI initiative to provide
TI Growth (y-o-y) (4.6)
EasyPay person to person payment solutions; single window solutions to students availing
miscall facility to know the balance of SB/CD/ education loans. Business Growth (y-o-y) (6.6)
(As on Mar 31, 2016)

Bank of Maharashtra
Lokmangal, 1501 Shivajinagar, Pune - 411005, Maharashtra
Website: www.bankofmaharashtra.in

Business Profile UIIC to sell life and non-life insurance products. Dun & Bradstreet D-U-N-S No 65-028-0423
Bank of Maharashtra (BoM) was incorporated The bank installed 11 automated cash deposit Financials (` mn)
in 1935 and was nationalized in 1969. In 2005, machines and 72 automated self-pass book
Total Income 140,722.8
BoM ventured into bancassurance and mutual printers at various places to reduce load on
fund distribution business. BoM offers various branches during FY16. BoM launched a new Total Business 2,465,524.9
deposit schemes and loan products along with product namely Mahabank MSME Credit +
Net Profit 1,006.8
other services such as demat services, RTGS/ for financing MSME borrowers and also the
NEFT, NRI Services, credit cards and door step MUDRA Card during FY16. The bank started Key Ratios (%)
banking amongst others. BoM has tie-ups the Mahabank Top Up loan Scheme from Feb,
TI Growth (y-o-y) 2.9
with 25 AMCs for selling MF products and has 2016.
corporate agency agreements with LIC and Business Growth (y-o-y) 11.7
(As on Mar 31, 2016)

The Bank of Nova Scotia

82/C Wing, Mittal Tower, 8th Floor, Nariman Point, Mumbai - 400021, Maharashtra
Website: www.scotiabank.com

Business Profile trade and correspondent banking services. Dun & Bradstreet D-U-N-S No 65-066-0442
The Bank of Nova Scotia (Scotia bank) is a Personal banking business provides deposits Financials (` mn)
Canada-based diversified financial institution. It like savings account and other currency
Total Income 7,462.3
commenced its operations at Halifax, Nova Scotia accounts. It also offers other services such as
in 1832. In India, Scotia bank operates under foreign exchange and safety deposit boxes. In Total Business 96,400.5
personal banking, business banking, corporate business banking, it offers loans and deposits
Net Profit 1,243.0
and institutional and global transaction banking. such as local currency loan, other currency
The bank has four business lines namely loan; deposits such as current accounts, term Key Ratios (%)
Canadian banking, international banking, scotia deposits and other currency deposits. Scotia
TI Growth (y-o-y) (24.0)
capital and global wealth management. It also bank operates through branches spread across
offers a broad range of corporate, commercial, Mumbai, New Delhi and Bangalore. Business Growth (y-o-y) (13.1)
(As on Mar 31, 2016)

The Bank of Tokyo-Mitsubishi UFJ, Limited

Jeevan Vihar, 3, Parliament Street, New Delhi - 110001, Delhi
Website: www.bk.mufg.jp

Business Profile in the segments of corporate & investment Dun & Bradstreet D-U-N-S No 91-858-1492
The Bank of Tokyo-Mitsubishi UFJ, Ltd (BTMU) banking, transaction banking and transaction Financials (` mn)
was established in 1919, Japan. BTMU got its services for financial institutions. In India, the
Total Income 14,777.8
current name due to the merger of the Bank bank provides corporate banking loans, deposit
of Tokyo-Mitsubishi (BTM) and UFJ (United accounts, remittances, trade finance and bank Total Business 159,203.7
Financial of Japan), in 2006. BTMU began guarantees. The bank also provides personal
Net Profit 1,893.8
operations in India through its first branch in loans, current account, savings account, export
Mumbai in 1953 as a predecessor company of letters of credit, import letters of credit, shipping Key Ratios (%)
the Bank of Tokyo. Apart from Mumbai, it also guarantees, bills for collection and global cash
TI Growth (y-o-y) 6.1
has presence in New Delhi, Chennai, Bengaluru management services among others.
and Neemrana in Rajasthan. It globally operates Business Growth (y-o-y) 34.9
(As on Mar 31, 2016)

17
Indias Leading BFSI Companies 2017

Barclays Bank PLC

801-808, Ceejay House, Shivsagar Estate, Worli, Mumbai - 400018, Maharashtra
Website: www.barclays.in

Business Profile advisory, capital raising, financing and risk Dun & Bradstreet D-U-N-S No 65-064-1186
Barclays Bank PLC (Barclays) has branch presence management services to corporations, Financials (` mn)
in India since 1990. Its business line includes governments and financial institutions. Under
Total Income 20,658.0
corporate banking, investment banking and personal banking, it offers current accounts,
personal banking. Under corporate banking, it savings accounts, term deposits, debit cards. Total Business 318,255.9
offers integrated banking solutions to large local As on Mar 31, 2016, Barclays has in total seven
Net Profit 4,765.9
companies, financial institutions, NBFI among branches in India each at Mumbai, Pune,
others. The corporate banking solution includes New Delhi, Kanchipuram, Nelamangala and Key Ratios (%)
cash management, trade and working capital, Hyderabad respectively.
TI Growth (y-o-y) 2.3
financing and risk management. Investment
banking services offer comprehensive financial Business Growth (y-o-y) 20.5
(As on Mar 31, 2016)

Bharatiya Mahila Bank Limited

9th Floor, IFCI Tower, 61, Nehru Place, New Delhi - 110019, Delhi
Website: www.bmb.co.in

Business Profile and RTGS / NEFT amongst others. Various Dun & Bradstreet D-U-N-S No 65-076-4579
Bharatiya Mahila Bank Ltd (BMB) was loan products offered by BMB include BMB Financials (` mn)
incorporated in Aug 2013 and received banking Apna Ghar Scheme, BMB Dream Car Loan and
Total Income 1,716.1
license from RBI in Sep 2013. The bank was BMB Kitchen Modernization Loan amongst
incorporated with the objective of economic others. During May, 2016, BMB inaugurated Total Business 15,485.0
empowerment of women. BMB offers various its 100th branch in Udaipur. In FY16, Bharatiya
Net Profit 23.8
savings & deposits and loan products under Mahila Bank (BMB) has entered into an MOU
personal banking, business banking and NRI with National Backward Classes Finance & Key Ratios (%)
banking. The bank also offers smart banking Development Corporation (NBCFDC).
TI Growth (y-o-y) 25.0
services in the form of debit card, credit card,
SMS banking, demand draft, internet banking Business Growth (y-o-y) 40.4
(As on Mar 31, 2016)

BNP Paribas
BNP Paribas House, 1 North Avenue, Maker Maxity, BKC, Bandra(E), Mumbai - 400051, Maharashtra
Website: www.bnpparibas.co.in

Business Profile businesses such as home finance, insurance Dun & Bradstreet D-U-N-S No 85-965-5434
BNP Paribas (BNP) started its Indian operations and securities services, life insurance, personal Financials (` mn)
by opening its first branch in Kolkata in 1860. Investment Services & equipment solutions
Total Income 24,012.1
The bank primarily operates in corporate and through various JVs with Sundaram Group, SBI,
institutional banking, investment solutions and Geojit Financial Services and SREI Infrastructure Total Business 420,768.6
retail banking. BNPs corporate & institutional Finance respectively. In September 2015, the
Net Profit 3,403.8
business operates in fixed income and debt bank launched the Dream Up program to
capital markets, cash management & trade, help underprivileged youngsters to gain self- Key Ratios (%)
corporate finance and institutional equities. sufficiency.
TI Growth (y-o-y) 18.2
BNP offers wealth management services to
individual clients. BNP also has presence in other Business Growth (y-o-y) 47.5
(As on Mar 31, 2016)

Canara Bank
112, J C Road, Bengaluru 560002, Karnataka
Website: www.canarabank.com

Business Profile system, Cheque Deposit Kiosk, Self-Printing Dun & Bradstreet D-U-N-S No 92-381-4813
Canara Bank (Canara Bank), a nationalized bank Passbook Kiosk, Internet Banking Terminal, Financials (` mn)
founded in 1906, caters to various segments Online Trading Terminal and Corporate Website
Total Income 488,973.6
such as personal, corporate, NRI banking, Access. The Bank also launched Canara Bank
priority sector and MSMEs. Its product portfolio RuPay Debit Card, Canara Club Card Debit, Total Business 8,045,063.9
includes savings & Deposits, loan products, Canara Elite Debit Card, Canara Bank Platinum
Net Profit (28,128.2)
mutual funds, insurance business, card services, Rupay etc. As on mar 31, 2016, Canara Bank had
remittance facilities and agriculture and rural 5,849 branches and 9,251 ATMs spanning across Key Ratios (%)
credit schemes. The Bank has set up 147 hi- the country. The banks mobile applications
TI Growth (y-o-y) 1.2
tech E-lounges in select branches with facilities include CanMobile, Canara e-Infobook and
like ATM, Cash Deposit Kiosk with voice guided Canara m-wallet. Business Growth (y-o-y) 0.1
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

The Catholic Syrian Bank Limited

Post Box No 502, CSB Bhavan, St Marys College Road, Thrissur - 680020, Kerala
Website: www.csb.co.in

Business Profile international money transfer service viz. Wall Dun & Bradstreet D-U-N-S No 91-535-4414
The Catholic Syrian Bank Ltd (CSB) was Street Instant Cash and MoneyGram. The bank Financials (` mn)
established in 1920 and commenced operations has a tie up with Birla Sun Life Insurance as their
Total Income 15,875.7
in 1921 in Kerala. The bank operates in corporate Bancassurance partner. The bank also offers
banking and retail banking segments. The insurance product, RTGS and NEFT services. Total Business 222,910.5
bank offers various deposit products including The bank has 431 functional branches and 233
Net Profit (1,497.2)
savings account, current account, fixed deposit, ATMs across the country as of FY15. The bank
cumulative deposit etc. It also offers loan implemented the RuPay Card technology and Key Ratios (%)
products such as gold loan, educational loan, car launched Cash Mithra, a personal loan scheme
TI Growth (y-o-y) (5.0)
loan, house loan and agricultural finance among for individuals.
others. The bank also operates web enabled Business Growth (y-o-y) (6.9)
(As on Mar 31, 2016)

Central Bank of India

9th Floor, Chandermukhi Building, Nariman Point, Mumbai - 400021, Maharashtra
Website: www.centralbankofindia.co.in

Business Profile including London and Leicester (UK), Hong Dun & Bradstreet D-U-N-S No 86-221-3654
Central Bank of India (Central Bank) was Kong, Shanghai (China) and Manama (Bahrain), Financials (` mn)
established in 1911 and mainly operates in a Representative Office at Sharjah (UAE). During
Total Income 278,266.8
treasury, wholesale banking and retail banking FY16, the bank launched new products namely
segments. Under its agri banking business it Credit Guarantee Scheme for Scheduled Castes, Total Business 4,461,937.8
offers Cent Kisan Tatkal Scheme, Cent Solar Cent Hosiery and CENT MUDRA- MUDRA CARD.
Net Profit (14,181.9)
Light Scheme, and Cent Kisan Credit Card among As on Mar 31, 2016, the bank had a network
others. Other schemes include Cent Mortgage, consisting of 4,728 branches, 3,677 Ultra Small Key Ratios (%)
Cent Doctor, and Cent protsahan etc. as part Branches and 5,254 ATMs across the country.
TI Growth (y-o-y) (1.7)
of its MSME banking business. Its overseas
operations are spread across six countries Business Growth (y-o-y) 0.5
(As on Mar 31, 2016)

Citibank N.A.
First International Financial Centre, C-54 and C-55, G-Block, BKC, Bandra (E), Mumbai - 400051, Maharashtra
Website: www.citibank.co.in

Business Profile services. The bank offers personal, corporate, Dun & Bradstreet D-U-N-S No 91-683-2000
Citibank N.A. (Citi) was incorporated in India, in SME and global & NRI banking services. The Financials (` mn)
1902, Kolkata. Citi Indias products and services bank also offers various products & services
Total Income 138,629.8
are organized under two major segments: like credit cards, insurance and mutual funds
Institutional Clients Group (ICG) and Global and online services. It also offers personal Total Business 1,617,658.7
Consumer Bank (GCB). The ICG products & loans, loans against securities and home loans
Net Profit 32,329.7
services are executed through Global Banking, amongst others. In FY16, it opened a new
Global Markets, Treasury & Trade Solutions, Smart Banking branch in Thane, expanding its Key Ratios (%)
Securities & Fund Services and Citi Research. Citi presence to 45 branches in 28 cities.
TI Growth (y-o-y) 2.4
Private Bank is also a division of the ICG. Under
GCB, Citi offers consumer banking products and Business Growth (y-o-y) 8.0
(As on Mar 31, 2016)

City Union Bank Limited

149, T.S.R. (Big) Street, Kumbakonam - 612001, TN
Website: www.cityunionbank.com

Business Profile services; loan services amongst others. In FY16, Dun & Bradstreet D-U-N-S No 91-521-3511
City Union Bank Ltd (CUB) was incorporated it launched a new mobile banking application Financials (` mn)
in 1904, as The Kumbakonam Bank Ltd. CUB called CUB m-Bank Plus enabling e-banking
Total Income 33,541.9
acquired its present name in 1987and forayed services for bill payments, online fixed deposit
into foreign exchange business in 1990 and opening, loan against deposit, fund transfers, Total Business 482,150.5
came out with its IPO in 1998. CUB operates TNEB payment , ATM PIN Reset and card block
Net Profit 4,446.9
under business segments namely corporate and amongst others. CUB has opened 50 branches
wholesale banking, retail banking, treasury and and 254 ATMs during FY16 taking the total to Key Ratios (%)
other banking operations. The banks product 525 branches and 1,325 ATMs across India.
TI Growth (y-o-y) 8.1
portfolio includes savings account, current
account; deposits accounts; NRI banking Business Growth (y-o-y) 14.7
(As on Mar 31, 2016)

19
Indias Leading BFSI Companies 2017

Commonwealth Bank of Australia

Level 2, Hoechst House, Nariman Point, Mumbai - 400021, Maharashtra
Website: www.commbank.co.in

Business Profile banking products such as foreign exchange and Dun & Bradstreet D-U-N-S No 86-453-4780
Commonwealth Bank of Australia (Comm international remittance services. Comm Bank Financials (` mn)
Bank) is one of the leading Australian banks also offers payments and collection solutions,
Total Income 293.2
and has presence across Asia, Europe, New trade services, working capital loans, short-term
Zealand and North America. Comm Bank was loans and trade finance and risk management Total Business 3,982.1
founded under the Commonwealth Bank Act services under commercial banking. In 2016 the
Net Profit (90.5)
in 1911 and commenced operations in 1912. It bank decided to close its Indian operations.
opened its Mumbai, India branch in 2010 and Key Ratios (%)
provides a range of savings accounts, loans,
TI Growth (y-o-y) (21.2)
money transfers and international trade finance
services. The bank also offers various NRI Business Growth (y-o-y) (18.7)
(As on Mar 31, 2016)

Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A.

20/F, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai 400013, Maharashtra
Website: www.rabobank.com

Business Profile that provide food & agri research & advisory Dun & Bradstreet D-U-N-S No 86-031-2363
Cooperatieve Centrale Raiffeisen- services and debt capital market services; and Financials (` mn)
Boerenleenbank B.A. formerly known as Rabo India Securities, the investment banking
Total Income 2,473.8
Rabobank International (Rabobank) is operating segment that offers services related to mergers
in India since 1998. In India, its offerings include; & acquisitions, equity, capital market and Total Business 33,223.6
corporate banking, global financial markets, corporate advisory.
Net Profit 288.6
trade commodity finance, project finance and
international services desk. It operates in the Key Ratios (%)
personal banking and business banking space.
TI Growth (y-o-y) 32.3
It also operates two wholly owned subsidiaries
namely; Rabo India Finance ltd, a NBFC arm, Business Growth (y-o-y) 98.5
(As on Mar 31, 2016)

Corporation Bank
Mangaladevi Temple Road, Pandeshwar, Mangalore - 575001, Karnataka
Website: www.corpbank.com

Business Profile term financing, cash management etc. NRI Dun & Bradstreet D-U-N-S No 65-019-2792
Corporation Bank (CorpnBank) was established banking services include saving accounts, term Financials (` mn)
in 1906 and acquired its present name in 1980, deposits, remittance facilities and loan facilities
Total Income 211,464.0
following its nationalisation in the same year. to NRIs. In FY16, CorpnBank has opened 156
CorpnBank caters to personal banking, corporate branches and 107 ATMs taking the total count Total Business 3,454,930.8
banking, NRI banking and priority banking to 2,440 branches and 3,040 ATMs as on Mar
Net Profit (5,064.8)
services. Under personal banking, CorpnBank 31, 2016. It launched new products in FY16
offers savings accounts, deposit schemes, loan such as Corp Home Smart, Pradhan Mantri Key Ratios (%)
facilities, remittances, cards, insurance and tax Awas Yojana, CORP ePURSE, etc. CorpnBank
TI Growth (y-o-y) 0.5
& pension schemes. Under corporate banking, also signed an MOU with LIC of India during the
CorpnBank offers working capital financing, year. Business Growth (y-o-y) 0.3
(As on Mar 31, 2016)

Crdit Agricole Corporate & Investment Bank

Hoecht House, 11th Floor, Nariman Point, Mumbai 400021, Maharashtra
Website: www.ca-cib.com/global-presence/india.htm

Business Profile by the bank over the years in the country. Dun & Bradstreet D-U-N-S No 91-861-7411
Crdit Agricole Corporate & Investment Bank Some products and services in capital markets Financials (` mn)
(Crdit Agricole) has presence in India since include global investment banking, structured
Total Income 5,082.4
1981. The bank specialises in the business of finance, global markets, commercial banking
capital markets, investment and corporate and trade, Islamic finance and international Total Business 76,766.2
banking. Its core business includes fixed private banking among others. In July 2015,
Net Profit 714.3
income markets, export and trade finance, a trio of banks namely Crdit Agricole, HSBC
project finance and acquisition finance. It also and Rabobank proposed a Social Bond and Key Ratios (%)
offers cash management and working capital Sustainability Bond Appendix (SSBA) to the
TI Growth (y-o-y) 4.0
facilities. Investment banking and debt capital green bond principles to boost their investment
market services have also been implemented in socio and sustainability projects. Business Growth (y-o-y) 45.5
(As on Mar 31, 2016)

20
 Indias Leading BFSI Companies 2017

Credit Suisse AG
10th Floor, Ceejay House, Plot F, Shivsagar Estate, Worli, Mumbai - 400018, Maharashtra
Website: www.credit-suisse.com/in

Business Profile consulting, discretionary & non-discretionary Dun & Bradstreet D-U-N-S No 91-534-2349
Credit Suisse AG (Credit Suisse) was incorporated mandates among others. Under Investment Financials (` mn)
in 1856 in Zurich, Switzerland and in 2011, the banking, it offers trading, derivatives, foreign
Total Income 8,123.4
bank commenced its banking operations in exchange operation, investment consultancy
India. Credit Suisse operates as an integrated services and advisory services for mergers & Total Business 85,173.8
bank with two divisions, private banking & acquisitions among others. The Bank also offers
Net Profit 1,446.6
wealth management and investment banking. asset management services. It also offers a
Private banking segment offers banking full range of equity underwriting and financial Key Ratios (%)
facilities to corporates, business entities and advisory solutions through its offices in Mumbai
TI Growth (y-o-y) (17.3)
individuals. Under wealth management, Credit and New Delhi.
Suisse offers advisory services, investment Business Growth (y-o-y) 11.3
(As on Mar 31, 2016)

CTBC Bank Company, Limited

Birla Tower, Upper Ground Floor, 25 Barakhamba Road, New Delhi - 110001, Delhi
Website: www.chinatrustindia.com

Business Profile syndication services, channel financing, vendor Dun & Bradstreet D-U-N-S No 91-672-8062
CTBC Bank Company, Ltd (CTBC), a Taiwanese financing etc. It also offers forex services like Financials (` mn)
bank was established in 1966 as China remittance facility, foreign currency cheque
Total Income 598.7
Securities Investment Corporation. In 1971, deposits, and foreign currency demand draft
the bank changed its name to Chinatrust facility among others. Its deposit schemes Total Business 9,317.1
Investment Co Ltd and later became Chinatrust include; domestic fixed deposit, NRO deposit
Net Profit (81.6)
Commercial Bank in 1992. CTBC entered Indian and NRE term deposit among others.
market and set up its first office in 1996 in New Key Ratios (%)
Delhi. It primarily offers corporate banking,
TI Growth (y-o-y) 10.7
deposits and forex & trade finance. Other value
added services offered by CTBC includes loan Business Growth (y-o-y) 38.6
(As on Mar 31, 2016)

DBS Bank Limited

3rd Floor, Fort House, 221, Dr. D.N. Road, Fort, Mumbai - 400001, Maharashtra
Website: www.dbs.com/in

Business Profile customers, small & medium enterprises (SMEs), Dun & Bradstreet D-U-N-S No 91-860-4492
DBS Bank Ltd (DBS) started its operations in financial institutions and several local and global Financials (` mn)
India in 1994, and during the year DBS opened blue-chip companies. During FY16, DBS opened
Total Income 23,718.8
its representative office in Mumbai, which was a wholly owned subsidiary, known as Asia Hub
upgraded to full-fledged branch in 1995. In 2 to provide technology related services to DBS. Total Business 410,806.3
2005, DBS bank was granted license to open In April 2016, DBS launched digibank, mobile-
Net Profit 85.6
its second branch in New Delhi. The banks only bank, which offers customers a completely
product portfolio includes personal banking, paperless, signature less and branchless Key Ratios (%)
wealth management and wholesale banking banking.
TI Growth (y-o-y) (7.3)
products & services. It also offers innovative and
comprehensive financial solutions to individual Business Growth (y-o-y) 23.6
(As on Mar 31, 2016)

DCB Bank Limited

601 & 602, Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, Maharashtra
Website: www.dcbbank.com

Business Profile finance and loans amongst others. As on Mar Dun & Bradstreet D-U-N-S No 65-060-0310
DCB Bank Ltd (DCB), formerly known as 31 2016, DCB has a distribution network of Financials (` mn)
Development Credit Bank Ltd, was formed 198 branches and 410 ATMs. During FY16,
Total Income 19,189.2
through the amalgamation of Ismailia Co- DCB also introduced digital platforms like
operative Bank Ltd and Masalawala Co-operative DCB Zippi Online Deposit Solution and Smart Total Business 278,473.7
Bank Ltd in 1981. In 1995, DCB was converted Credit Online. In FY 2016, FinnOne Neo was
Net Profit 1,945.2
into a Scheduled Commercial Bank (SCB). introduced, a loan software which would act
DCBs caters to various segments namely retail, as a cross functional effort between credit, Key Ratios (%)
SME, corporate, agriculture etc. The banks technology, business and finance.
TI Growth (y-o-y) 20.8
portfolio includes deposits, cards, payments &
remittances, insurance & investments, trade Business Growth (y-o-y) 20.7
(As on Mar 31, 2016)

21
Indias Leading BFSI Companies 2017

Dena Bank
Dena Corporate Centre, C10, G Block, BKC, Bandra (E), Mumbai - 400051, Maharashtra
Website: www.denabank.com

Business Profile SB Account, Dena Maha Tax Bachat Yojana, Dun & Bradstreet D-U-N-S No 65-009-6316
Dena Bank (Dena Bank) was incorporated in Dena Niwas Housing Finance Scheme, Dena Financials (` mn)
1938 as Devkaran Nanjee Banking Company Consumer Durable Loan etc. The corporate
Total Income 113,625.3
Ltd. The bank was converted into a public banking segment provides sector specific
limited company in 1939 and was nationalized schemes to educational institutions, builders & Total Business 1,997,593.0
in 1969. It came out with its IPO in 1996. developers, hospitals, hotels & restaurants and
Net Profit (9,353.2)
Dena Bank undertakes personal banking, entertainment industry. Dena Bank opened 107
international banking, corporate banking, branches during FY16, taking the total network Key Ratios (%)
priority & SME lending and internet banking to 1,846 branches and 1,471 ATMs across the
TI Growth (y-o-y) (1.1)
operations. Under personal banking, it provides country.
deposits and loans schemes like Dena Jeevan Business Growth (y-o-y) 2.5
(As on Mar 31, 2016)

Deutsche Bank AG
Deutsche Bank House, Hazarimal Somani Marg, Fort, Mumbai - 400001, Maharashtra
Website: www.deutschebank.co.in

Business Profile as well as PMS, insurance, savings and demat Dun & Bradstreet D-U-N-S No 65-028-0787
Deutsche Bank AG (Deutsche Bank) was accounts. The business banking products and Financials (` mn)
established in 1870 in Berlin, Germany. services provided by the bank include current
Total Income 59,131.9
Deutsche Bank commenced operations in account, Magnus - working capital lending, cash
India in the year 1980. The bank in India is a management services and db Online Banking Total Business 869,630.5
fully integrated financial services provider to for corporates. It also offers NRI bank account,
Net Profit 11,855.8
Indian corporate, institutional and individual NRI fixed deposit and money transfer facilities
clients. It primarily operates in global markets among others. The bank operates through 17 Key Ratios (%)
(treasury), commercial and retail banking different offices located across India.
TI Growth (y-o-y) 1.8
business segments. It provides business
installment loans and loan against property Business Growth (y-o-y) 16.3
(As on Mar 31, 2016)

Dhanlaxmi Bank Limited

P.B. No. 9, Dhanalakshmi Buildings, Naickanal, Thrissur - 680001, Kerala
Website: www.dhanbank.com

Business Profile services etc. NRI banking caters to money Dun & Bradstreet D-U-N-S No 65-066-0483
Dhanlaxmi Bank Ltd (Dhanlaxmi Bank) was transfers facility, NRI property loans and other Financials (` mn)
established in 1927, Kerala. The banks product investment opportunities. Under micro & agri
Total Income 12,810.0
portfolio includes personal banking, corporate banking, it provides specialized products and
banking, NRI banking, micro and agri banking, services such as Kissan Vahana, Kissan Card, Total Business 183,064.4
SME banking etc. Under personal banking, the agri gold loan etc. SME segment offers working
Net Profit (2,094.5)
bank offers products such as savings account, capital and trade facilities. Dhanlaxmi Bank also
current account, term deposits, insurance provides specialized products and services such Key Ratios (%)
etc. The corporate banking segment provides as Dhanam Vanitha Savings Account, Kissan
TI Growth (y-o-y) (6.4)
corporate salary account, cash management Vahana and Agrigold loan and offers financial
services, credit services, forex and trade planning services to their customers. Business Growth (y-o-y) (8.7)
(As on Mar 31, 2016)

Doha Bank
Ground Floor, Sakhar Bhavan, Nariman Point, Mumbai - 400021, Maharashtra
Website: www.dohabank.co.in

Business Profile and one in Kochi. The product portfolio of Dun & Bradstreet D-U-N-S No 87-360-3524
Doha Bank India is part of the Qatar based the bank comprises of personal banking, NRI Financials (` mn)
Doha Bank. Doha Bank has established overseas services, corporate banking, trade services,
Total Income 402.0
branches in Kuwait, Dubai (UAE), Abu Dhabi and treasury services. The Bank also have wide
(UAE), Mumbai and Kochi (India) in addition to correspondents network globally to extend Total Business 6,460.4
representative offices in Japan, China, Singapore, trade finance, remittance related services.
Net Profit 115.3
Hong Kong, South Africa, South Korea, Australia,
Turkey, the United Kingdom, Canada, Germany, Key Ratios (%)
Bangladesh and Sharjah (UAE). Doha Bank India
TI Growth (y-o-y) 307.8
opened its first branch in India at Mumbai in
2014 and currently has 2 branches in Mumbai Business Growth (y-o-y) 521,320.8
(As on Mar 31, 2016)

22
 Indias Leading BFSI Companies 2017

The Federal Bank Limited

Post Box No. 103, Federal Towers, Aluva - 683101, Kerala
Website: www.federalbank.co.in

Business Profile Kisan card under agri business. During FY16, Dun & Bradstreet D-U-N-S No 91-583-5671
The Federal Bank Ltd (Federal Bank) was the bank launched Scan N Pay; a payment app. Financials (` mn)
incorporated in 1931 as Travancore Federal In April 2016, it tied with Phillip Capital (India)
Total Income 85,310.7
Bank Ltd. In 1949, the bank acquired its present Pvt. Ltd., for managing NRI Portfolio Investment
name and subsequently in 1970 became a Scheme (PIS). The bank added five branches and Total Business 1,372,618.5
scheduled commercial bank. Its personal 31 ATMs taking the total to 1,252 branches and
Net Profit 4,756.5
banking offerings include accounts & deposits, 1,516 ATMs as on March 31, 2016. During April
loans, cards, insurance & investment; while 2016, it also launched Launchpad an exclusive Key Ratios (%)
corporate banking offerings include corporate e -outlet for start-ups, in Bangalore.
TI Growth (y-o-y) 2.8
loans, trade finance etc. Further, it offers a wide
array of agri-allied loans and Federal RuPay Business Growth (y-o-y) 12.4
(As on Mar 31, 2016)

FirstRand Bank Limited

4th Floor, TCG Financial Centre, BKC, Bandra (E), Mumbai - 400051, Maharashtra
Website: www.firstrand.co.in

Business Profile currency & commodities provides services like Dun & Bradstreet D-U-N-S No 86-379-9133
FirstRand Bank, India (FirstRand) is a branch of fixed income, money market and its derivatives Financials (` mn)
the South Africa based FirstRand Banking Group among others. Under corporate banking, it
Total Income 1,621.7
which was started in 1838. In Jan 2008, FirstRand provides INR & foreign currency accounts,
set up its representative office in Mumbai. transactional banking, and long term loans etc. Total Business 10,968.2
FirstRand received banking license from RBI in For trade and international banking, FirstRand
Net Profit (707.8)
2009 and got included in the list of scheduled has products like open account transactions,
banks in India. The banks product portfolio documentary collects and credits, import and Key Ratios (%)
includes fixed income currency/commodities, export finance etc. The bank also provides
TI Growth (y-o-y) 22.8
corporate banking, trade and international corporate finance and advisory services under
banking and investment banking. Fixed income its investment banking segment. Business Growth (y-o-y) 79.1
(As on Mar 31, 2016)

HDFC Bank Limited

HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, Maharashtra
Website: www.hdfcbank.com

Business Profile second personal loan, ZipDrive, Virtual Dun & Bradstreet D-U-N-S No 65-005-7888
HDFC Bank Ltd (HDFC Bank) was incorporated Relationship Manager, Chillr, Design Your Own Financials (` mn)
in 1994 and commenced operations as a Loan Against Securities (LAS), Loans on ATMs,
Total Income 709,731.7
scheduled commercial bank in 1995. Under Missed Called Recharge and MobileBanking
retail banking, it provides various services Liteapp in the retail business and Trade on Net Total Business 10,110,181.5
like loans and deposits, cards services, demat and E Net on Mobile for corporate customers in
Net Profit 122,962.1
accounts, investment facility etc. In FY16, the wholesale business. The bank opened 506
HDFC Bank launched Dhanchayat: Financial branches and 234 ATMs during the FY16. As on Key Ratios (%)
Literacy on Wheels, an initiative to educate the Mar 31, 2016, it had 4,520 branches and 12,000
TI Growth (y-o-y) 23.5
rural population. During 2016, its innovation ATMs spread across the country.
initiatives included PayZapp with SmartBuy,10 Business Growth (y-o-y) 23.9
(As on Mar 31, 2016)

The Hongkong and Shanghai Banking Corporation Limited

52 / 60 Mahatma Gandhi Road, Fort, Mumbai - 400001, Maharashtra
Website: www.hsbc.co.in

Business Profile and wealth management products and services, Dun & Bradstreet D-U-N-S No 65-044-0415
The Hongkong and Shanghai Banking Corporation trade services, transaction banking, among Financials (` mn)
Ltd (HSBC) is a subsidiary of the HSBC Group many others. Under personal banking segment,
Total Income 103,082.2
which was established in the year 1865 in it offers credit cards, NRI services, home loans,
Hong Kong. The acquisition of the Mercantile personal loans, fixed deposits, internet & self- Total Business 1,429,140.9
Bank in 1959 marked the entry of HSBC in service banking, etc. Under business banking
Net Profit 19,341.2
India. The bank serves its customers in India segment, HSBC offers international payments
through our four global namely; retail banking & cash management solutions, global trade Key Ratios (%)
and wealth management, commercial banking, solutions, business loans and foreign exchange
TI Growth (y-o-y) (1.5)
global private banking and global banking and services.
markets. It provides various services like cash Business Growth (y-o-y) 8.4
(As on Mar 31, 2016)

23
Indias Leading BFSI Companies 2017

ICICI Bank Limited

Landmark, Race Course Circle Vadodara - 390007, Gujarat
Website: www.icicibank.com

Business Profile for fund transfer etc. During FY16, the bank Dun & Bradstreet D-U-N-S No 85-817-9872
ICICI Bank Ltd (ICICI Bank) was promoted in launched Money2World, which enables any Financials (` mn)
1994 by ICICI Ltd. ICICI Bank provides personal, resident Indian to send money abroad from any
Total Income 680,624.9
private, NRI, and corporate banking services. bank in India to any bank overseas within one
Personal banking offers services like savings international working day. It launched Smart Total Business 8,566,896.5
account, current account, fixed deposits etc. Vault, which is a fully automated state-of-the-
Net Profit 97,262.9
Corporate banking offers cash management art locker which is available 24x7, including
services, merchant banking, global trade, forex weekends.An innovative online solution named Key Ratios (%)
and custodial services. ICICI Bank also has Eazypay was launched during the year to ease
TI Growth (y-o-y) 11.1
social media presence that includes launch of payments to customers.
twitter application, digital bank called Pockets Business Growth (y-o-y) 14.4
(As on Mar 31, 2016)

IDBI Bank Limited

IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra
Website: www.idbi.com

Business Profile of life and non-life insurance products. As on Dun & Bradstreet D-U-N-S No 67-563-5600
IDBI Bank Ltd (IDBI Bank) was established in March 31, 2016, the banks network stood at Financials (` mn)
1964 as a financial Institution by the name 1,846 branches, including one overseas branch
Total Income 314,534.6
of Industrial Development Bank of India. It and the number of ATMs stood at 3,310. IDBI
acquired its current name in 2008. IDBI Bank Bank also launched new schemes and products Total Business 4,816,132.8
has its business segment classified under the such as Skill Loan Scheme, IDBI MUDRA Loan,
Net Profit (36,648.0)
following namely personal, MSME, corporate, IDBI Bunkar MUDRA Yojana, PayApt wallet,
retail, SME, Agri products and services and NRI JusTab, etc. Key Ratios (%)
amongst others. The bank has a tie-up with IDBI
TI Growth (y-o-y) (2.2)
Federal Life Insurance Company Ltd and Bajaj
Allianz General Insurance Co. Ltd for distribution Business Growth (y-o-y) 2.9
(As on Mar 31, 2016)

IDFC Bank Limited

KRM Tower, 8th Floor, No. 1 Harrington Road, Chetpet, Chennai - 600031, Tamil Nadu
Website: www.idfcbank.com

Business Profile and private customers in India including the Dun & Bradstreet D-U-N-S No 65-083-5361
IDFC Bank Ltd (IDFC Bank) received a universal infrastructure sector that IDFC specialized Financials (` mn)
banking license from the Reserve Bank of India in. The bank also aims to provide services to
Total Income 40,520.3
(RBI) in July 2015 and on Nov 6, 2015 IDFC Bank people in rural areas and to the self-employed.
was listed on BSE and NSE. The bank launched As on March 31, 2016, its network comprised Total Business 539,184.8
23 branches across the country when it was 65 branches, 14 ATMs and 15 offices in India. It
Net Profit 4,668.5
established in 2015. IDFCs banking business also bought up to 10% stake in ASA International
consists of three distinct strategic business India Mircofinance Pvt. Ltd. during the year. Key Ratios (%)
verticals namely commercial and wholesale
TI Growth (y-o-y) NA
banking, Bharat banking and personal and
business banking. The bank serves corporate Business Growth (y-o-y) NA
(As on Mar 31, 2016)

Indian Bank
66, Rajaji Salai, Chennai - 600001, TN
Website: www.indian-bank.com

Business Profile Bank opened 153 branches and 440 ATMs/BNAs Dun & Bradstreet D-U-N-S No 65-010-1173
Indian Bank (Indian Bank) was incorporated in in FY16 to touch 5,346 delivery points, including Financials (` mn)
1907. The bank mainly operates in treasury, 2,562 Brick & Mortar branches and 2,784 ATMs
Total Income 180,252.0
corporate & wholesale banking and retail as on Mar 31, 2016. Some of the new initiatives
banking segments. Indian Bank offers a wide that were taken by the bank during the year Total Business 3,073,349.2
array of lending and deposit schemes catering include SMS alerts sent for cheques, E-purse, IB
Net Profit 7,113.8
to individuals, NRIs, priority sectors, corporates, SMART Remote and IB D-Elite. It also introduced
professionals and agricultural sector. Other the insurance schemes SURAKSHA DEPOSIT Key Ratios (%)
services offered by the bank include RTGS, NEFT, GIFT, JEEVAN SURAKSHA GIFT and SURAKSHA
TI Growth (y-o-y) 4.7
insurance services, phone banking, mobile DEPOSIT YOJANA GIFT.
banking and e-payment amongst others. Indian Business Growth (y-o-y) 4.1
(As on Mar 31, 2016)

24
 Indias Leading BFSI Companies 2017

Indian Overseas Bank

763, Anna Salai, Chennai 600002, TN
Website: www.iob.in

Business Profile banking, the bank offers remittance services, Dun & Bradstreet D-U-N-S No 65-006-7234
Indian Overseas Bank (IOB) was established NRO, RFC, FCNR etc. Rural banking business Financials (` mn)
in 1937, with focus on foreign exchange offers agri business consultancy services,
Total Income 260,455.5
business and overseas banking. In 1969, IOB agricultural term loans & short term loans etc.
was nationalised. Personal banking products During FY16, the bank has opened 34 branches Total Business 3,853,749.1
and services offered by IOB include saving across the country taking the total number of
Net Profit (28,973.3)
account, current account, term deposit, home domestic branches to 3,397 as on Mar 31, 2016.
loans, depository services etc. Some corporate They comprise of 1,036 rural branches, 960 Key Ratios (%)
banking services offered by the bank include semi urban branches, 748 urban branches and
TI Growth (y-o-y) (0.1)
term loans, working capital loans, and loans for 653 metropolitan branches.
professionals & self-employed etc. Under NRI Business Growth (y-o-y) (7.8)
(As on Mar 31, 2016)

IndusInd Bank Limited

2401, Gen. Thimmayya Road (Cantonment), Pune - 411001, Maharashtra
Website: www.indusind.com

Business Profile financial institutions group and public sector Dun & Bradstreet D-U-N-S No 86-232-6824
IndusInd Bank Ltd (IndusInd) was incorporated group. During FY16, IndusInd had a network of Financials (` mn)
in 1994 and operates in various business 1,000 branches and 1,800 ATMs spread across
Total Income 148,776.1
segments viz. retail banking, corporate banking, the country. In Aug 2015, IndusInd received
treasury and other banking operations. Under approval to set up an International Financial Total Business 1,814,196.9
retail banking, it offers facilities such as current Services Centre in Gujarat International Finance
Net Profit 22,864.5
account, saving accounts, deposits, cards and Tec-City to provide bank access to international
loan etc. The corporate banking division provides financial markets. During 2016, the bank Key Ratios (%)
services through various strategic business launched various digital initiatives like Quickpay,
TI Growth (y-o-y) 21.5
units comprising corporate banking, investment Onthego, Indus Mobile and Swift pay to engage
banking, capital & commodities market, the customers through the digital approach. Business Growth (y-o-y) 26.9
(As on Mar 31, 2016)

Industrial and Commercial Bank of China Limited

Level 1, Wockhardt Tower, C-2, G Block, BKC, Bandra (E), Mumbai 400051, Maharashtra
Website: www.icbc.com.cn

Business Profile facilities which include online financial services Dun & Bradstreet D-U-N-S No 85-993-0272
Industrial and Commercial Bank of China Ltd remittance, foreign currency exchange services Financials (` mn)
(ICBC), opened its first branch in India in Mumbai and deposits among others. ICBC also offers
Total Income 1,391.5
in 2011. ICBC engages in comprehensive banking deposit services, working capital loans, project
business, including personal banking, corporate loans, syndicated loans, international settlement Total Business 17,976.0
banking, retail banking, and investment banking. services, guarantee business and trade financing
Net Profit 323.3
ICBC has its presences across six continents, services under corporate banking. The bank
and its overseas network has expanded to 40 offers e-banking facilities to both its personal Key Ratios (%)
countries and regions. Under personal banking banking and corporate banking customers.
TI Growth (y-o-y) 7.9
the bank offers cross border multi-currency
remittance service, personal internet banking Business Growth (y-o-y) 22.9
(As on Mar 31, 2016)

The Jammu and Kashmir Bank Limited

M. A. Road, Srinagar - 190001, J&K
Website: www.jkbank.net

Business Profile such as Fruit Advances Scheme (Apple), Zafran Dun & Bradstreet D-U-N-S No 91-844-5289
The Jammu and Kashmir Bank Ltd (J&K Bank) Finance, Giri Finance scheme etc. During FY16, Financials (` mn)
was incorporated in 1938. In 1971, J&K Bank 40 new branches were established by the bank,
Total Income 73,476.0
acquired the status of a scheduled bank and it thereby taking the total number of branches to
was nationalised in 1956. It primarily operates 857 as on Mar 31, 2016, spread over 20 states Total Business 1,195,835.4
in treasury, corporate, agriculture and retail and one union territory. During the year, a new
Net Profit 4,160.3
banking business segments. The bank offers e-Banking application was also launched.
various products and services including various Key Ratios (%)
loans, agriculture financing, services to aid
TI Growth (y-o-y) (4.0)
tourism, sheep farms, technology, etc. It also
provides agriculture financing through schemes Business Growth (y-o-y) 8.4
(As on Mar 31, 2016)

25
Indias Leading BFSI Companies 2017

JP Morgan Chase Bank, N.A.

J.P. Morgan Tower, Kalina, Santacruz (East), Mumbai - 400098, Maharashtra
Website: www.jpmorgan.com

Business Profile includes investment banking, treasury services, Dun & Bradstreet D-U-N-S No 91-614-4508
JP Morgan Chase Bank, N.A. (JP Morgan) has investor services, markets and investor services, Financials (` mn)
presence in India since 1922 when a heritage firm institutional asset management, investment
Total Income 26,337.4
took an ownership interest in a merchant bank management and NRI services. Under
in Calcutta. In 2002, JPMorgan Chase established investment banking, it supports a broad range Total Business 267,005.2
its global service center in Mumbai. The bank of corporations, institutions and governments
Net Profit 7,030.9
provides clients in India a comprehensive range by providing strategic advice, capital raising and
of corporate and investment banking and asset risk management expertise. As treasury services, Key Ratios (%)
management services. Its global service centers corporations, financial institutions, governments
TI Growth (y-o-y) 1.0
in Mumbai, Bangalore and Hyderabad support and municipalities entrust their cash management
operations globally. Its business segment and liquidity business to JP Morgan. Business Growth (y-o-y) 33.2
(As on Mar 31, 2016)

The Karnataka Bank Limited

Mahaveera Circle, Kankanady, Mangalore - 575002, Karnataka
Website: www.karnatakabank.com

Business Profile the bank introduced technology based facility, Dun & Bradstreet D-U-N-S No 91-577-8497
The Karnataka Bank Ltd (Karnataka Bank) was online account opening which enables online Financials (` mn)
incorporated in 1924 and over a period of time opening of savings, current, fixed and recurring
Total Income 55,350.7
Sringeri Sharada Bank Ltd, Chitladurg Bank deposit accounts. In Mar 2016, Karnataka Bank
Ltd and Bank of Karnataka merged with the entered into MoU with CNX Corporation Ltd Total Business 843,906.6
bank. Karnataka Bank is engaged in providing for extending storage facilities to farmers. As
Net Profit 4,152.9
personal banking, business banking, internet on Mar 31, 2016, the bank had 2,015 service
banking, insurance services, and money transfer outlets with 12 Regional Offices, 725 branches, Key Ratios (%)
services. In Dec 2015, it launched KBL Suraksha, three extension counters and 1,275 ATMs in
TI Growth (y-o-y) 6.3
a group personal accident insurance scheme in 480 centers across India.
association with Universal Sompo. In Feb 2016, Business Growth (y-o-y) 8.6
(As on Mar 31, 2016)

The Karur Vysya Bank Limited

Erode Road, Karur- 639002, TN
Website: www.kvb.co.in

Business Profile 2016. It introduced a number of initiatives in Dun & Bradstreet D-U-N-S No 87-179-5198
The Karur Vysya Bank Ltd (KVB) was set up in FY16 like reloadable cards, kisan credit cards, Financials (` mn)
1916 in Karur, TN. KVB primarily operates in automatic passbook kiosk, e-book, etc. Some of
Total Income 61,502.2
treasury, corporate/wholesale banking and the digital initiatives taken by the bank include
retail banking segments. For MSMEs, the bank roll out of Aadhaar Enabled Payment System, Total Business 891,632.8
provides products such as KVB MSME Cash, introduction of General Purpose Re-loadable
Net Profit 5,676.3
KVB MSME Term Loan, KVB MSME Vendor Bill cards issued under RuPay Brand roll out of
Discounting and KVB MSME Standby Term Loan new versions to mPay and eBook applications Key Ratios (%)
among others. The bank added 38 branches and etc.
TI Growth (y-o-y) 2.9
10 ATMs during the year thus bringing the total
to 667 branches and 1,655 ATMs as on Mar 31, Business Growth (y-o-y) 10.4
(As on Mar 31, 2016)

KBC Bank NV
702, Kesar Solitaire, Plot 5, Sector 19, Palm Beach Road, Sanpada, Navi Mumbai - 400705, Maharashtra
Website: www.kbc.com

Business Profile Dun & Bradstreet D-U-N-S No 86-452-2002

In 1998 two Belgian banks (the Kredietbank and Financials (` mn)
CERA Bank) and a Belgian insurance company
Total Income 423.3
(ABB) merged to form KBC Bank and Insurance
Holding Company. The company operates as an Total Business 374.0
integrated bank-insurance model. In addition to
Net Profit 143.1
Belgium, the other core markets for the bank
are Czech Republic, Slovakia, Hungary, Bulgaria Key Ratios (%)
and Ireland.
TI Growth (y-o-y) (41.3)
Business Growth (y-o-y) (91.0)
(As on Mar 31, 2016)

26
 Indias Leading BFSI Companies 2017

KEB Hana Bank

4th Floor, Bannari Amman Towers, No. 29, Dr. Radhakrishnan Road, Mylapore Chennai - 600004, TN
Website: www.hanafn.com

Business Profile Dun & Bradstreet D-U-N-S No 86-031-2372

KEB Hana is a part of the South Korean based Financials (` mn)
KEB Hana financial group. The group presence
Total Income 344.8
in over 88 branches in 23 countries. KEB Hana
Bank India was established in 2015. The bank Total Business 3,262.6
primarily aims to cater to Korean companies
Net Profit 57.4
operating in India and Korean citizens residing
in India. The bank also aims to cater to domestic Key Ratios (%)
customers.
TI Growth (y-o-y) NA
Business Growth (y-o-y) NA
(As on Mar 31, 2016)

Kotak Mahindra Bank Limited

27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400051, Maharashtra
Website: www.kotak.com

Business Profile The corporate banking division of KMBL offers Dun & Bradstreet D-U-N-S No 65-019-5050
Kotak Mahindra Bank Ltd (KMBL) was established working capital finance, trade services, export Financials (` mn)
in 1985, as Kotak Mahindra Finance Ltd. In 2003, credit etc. As on Mar 31, 2016, the bank had
Total Income 189,964.2
the bank was converted into commercial bank a network of 1,333 branches and 2,032 ATMs.
and acquired its present name. In Apr 2015, In FY16, KMBL launched mStore and eStore on Total Business 2,573,083.2
ING Vysya Bank got merged with KMBL. KMBL mobile and net banking. The bank launched the
Net Profit 20,897.8
has three business units viz. consumer banking, International Banking Unit in GIFT City, Gujarat
commercial banking and corporate banking. in FY16, to meet growing demands for foreign Key Ratios (%)
Under consumer banking, KMBL provides currency facilities to corporates.
TI Growth (y-o-y) 61.7
complete retail solutions and under commercial
banking it offers a range of products to SMEs. Business Growth (y-o-y) 82.5
(As on Mar 31, 2016)

Krung Thai Bank Public Company Limited

6th Floor, 62 Maker Chambers VI, Nariman Point, Mumbai - 400021, Maharashtra
Website: http://www.ktb.co.th/

Business Profile caters to the SME, corporate and government Dun & Bradstreet D-U-N-S No 86-217-4591
Krung Thai Bank Public Company Ltd (Krung sector. In India, Krung Thai Bank offers lending, Financials (` mn)
Thai Bank), a Thailand based banking company, deposit, remittance, trade finance and foreign
Total Income 278.1
was established in Mar 1996, by the merger of exchange among others.
two government-owned banks, Kaset Bank and Total Business 3,367.5
Monton Bank. Its products & services include;
Net Profit 60.3
deposit, loans, e-banking, payment & top
up, cards, funds transfer, investment, wealth Key Ratios (%)
management, insurance, international financial
TI Growth (y-o-y) 8.8
services, cash management, FX & derivatives
and investment banking among others. It also Business Growth (y-o-y) 16.8
(As on Mar 31, 2016)

The Lakshmi Vilas Bank Limited

Salem Road, Kathaparai, Karur- 639006, TN
Website: www.lvbank.com

Business Profile LVB Crown Services was launched in FY16 for Dun & Bradstreet D-U-N-S No 65-064-9858
The Lakshmi Vilas Bank Ltd (LVB) was high net-worth customers. In FY16, LVB opened Financials (` mn)
incorporated in 1926 and in August 1958 60 new branches thus, as on Mar 31, 2016,
Total Income 28,728.3
became a scheduled commercial bank. It offers the bank had a network of 459 branches, one
a wide range of deposit and loan products satellite branch, seven extension counters and Total Business 450,747.0
and services to small business and corporate 910 ATMs spread over 16 states. The bank also
Net Profit 1,802.4
clients. It provides savings and current account launched the mobile banking App LVB Mobile
schemes namely Lakshmi Power, Lakshmi in all three major mobile platforms. Key Ratios (%)
Savings Gold and Savings Youth Power among
TI Growth (y-o-y) 15.0
others. The bank also provides NRI services like
NRE and RFC account facility to their clients. Business Growth (y-o-y) 17.6
(As on Mar 31, 2016)

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Indias Leading BFSI Companies 2017

Mashreqbank psc
1305, Raheja Centre, 13th Floor, Nariman Point, Mumbai - 400021, Maharashtra
Website: www.mashreqbank.com

Business Profile etc. Under corporate banking, the bank Dun & Bradstreet D-U-N-S No 87-181-2831
Mashreqbank psc (Mashreq) was established provides various products and solutions under Financials (` mn)
in 1967 to provide banking and financial corporate lending, treasury and capital markets,
Total Income 444.5
services. The bank operate with 12 offices in cash management and investment banking.
nine countries, including Europe, US, Asia and The company offers Islamic banking through Total Business 3,156.8
Africa. Mashreq primarily operates into four Mashreq Al Islami, an arm of Mashreq Group,
Net Profit 199.3
verticals namely personal banking, corporate which offers Sharia compliant offerings.
banking, business banking and international Key Ratios (%)
banking. Personal banking comprises accounts
TI Growth (y-o-y) (0.7)
& deposits, loan products, overdrafts, credit &
debit cards, insurance, convenience banking Business Growth (y-o-y) (22.0)
(As on Mar 31, 2016)

Mizuho Bank Limited

Level 17, TOWERA Peninsula Business Park, Lower Parel, Mumbai - 400013, Maharashtra
Website: www.mizuhobank.com/india

Business Profile L/C issuance, acceptance and confirmation, Dun & Bradstreet D-U-N-S No 91-844-5644
Mizuho Bank Ltd (MHBK), formerly known as acceptance and negotiation of import/export Financials (` mn)
Mizuho Corporate Bank Ltd, is the integrated bills, remittance, forward exchange contracts,
Total Income 8,372.6
retail and corporate banking unit of Mizuho guarantees and MSME lending among others.
Financial Group, one of the largest financial It provides personal and company accounts, Total Business 146,088.9
services companies in Japan. MHBK was basic savings bank deposit accounts. In 2016,
Net Profit 2,638.8
established in Apr, 2002 in Japan. On July 1, the bank had a total of five branches across in
2013, Mizuho Corporate Bank Ltd merged New Delhi, Mumbai, Ahmedabad, Bangalore Key Ratios (%)
with former MHBK globally to form a single and Chennai.
TI Growth (y-o-y) 17.7
entity named MHBK. In India, the bank offers
various product such as deposit-taking, lending, Business Growth (y-o-y) 52.3
(As on Mar 31, 2016)

The Nainital Bank Limited

Seven Oaks Building, Mallital, Nainital - 263001, Uttarakhand
Website: www.nainitalbank.co.in

Business Profile finance through schemes like Vyapar Suvidha, Dun & Bradstreet D-U-N-S No 87-179-9012
The Nainital Bank Ltd (Nainital Bank) was Naini HealthCare, Siksha Prasar, among others. Financials (` mn)
established in 1922. The bank provides variety Its rural and agri banking segment extends
Total Income 5,650.6
of products and services across personal, loans to agricultural activities and also provide
business and rural & agri banking segments. various services to farmers like Naini Kisan Total Business 79,966.7
The personal banking segment provides various Credit Card & Naini Kisan Gold card. Nainital
Net Profit 469.7
deposit and retail loan schemes including Apna Bank implemented an assets management
Ashiana, Suhana Safar, Naini Sahyog, etc. In module to track fixed assets of the bank and Key Ratios (%)
the business banking segment, the bank offers made investment module live in CBS (FinCraft)
TI Growth (y-o-y) 1.5
services ranging from working capital finance, in FY16.
short term corporate loans. It also offers project Business Growth (y-o-y) 1.2
(As on Mar 31, 2016)

National Australia Bank Limited

901, 9th Floor, Nariman Bhavan, 227 Backbay Reclamation, Nariman Point, Mumbai, 400021, Maharashtra
Website: www.nabasia.com/in

Business Profile accounts; while institutional banking services Dun & Bradstreet D-U-N-S No 86-031-2380
National Australia Bank Ltd (NABL) is an Australia comprise of trade finance, acquisition finance, Financials (` mn)
based bank, which specialises in servicing high global specialised financing, loan syndication,
Total Income 634.3
net worth investors and businesses. The bank risk management and debt capital markets.
established its first Indian representative office Under wholesale banking, it offers a range of Total Business 1,034.9
in 2006 and Following regulatory approval from specialised funding, investment, asset services
Net Profit 138.0
RBI, converted it into a full branch in 2012. and risk management capabilities. It also
NABL offers a range of wholesale, institutional provides migrating banking which helps in Key Ratios (%)
and personal banking services from the office setting up Australian or New Zealand banking
TI Growth (y-o-y) (7.2)
in Mumbai. Its personal banking portfolio accounts for individuals migrating to these
comprises of savings, current and term deposit countries. Business Growth (y-o-y) (48.0)
(As on Mar 31, 2016)

28
 Indias Leading BFSI Companies 2017

Oriental Bank of Commerce

Harsha Bhawan, E-Block, Connaught Place, New Delhi 110001, Delhi
Website: www.obcindia.co.in

Business Profile housing loans, education loans and loans to Dun & Bradstreet D-U-N-S No 87-179-3705
Oriental Bank of Commerce (OBC), a GoI SMEs, savings account and current account Financials (` mn)
undertaking, was established in 1943. In 1945, among others. During FY16, 100 new branches
Total Income 218,249.9
OBC was acquired by the Thapar Group. In 1980, were opened and 78 new ATMs were installed
OBC got nationalized. Later, Punjab Co-operative by the bank. As of Mar 31, 2016, OBCs total Total Business 3,577,948.1
Bank Ltd and Bari Doaba Bank Ltd were merged delivery channels stood at a total of 4,917,
Net Profit 1,560.8
with OBC in 1997. In 2004, the Global Trust bank comprising of 2,351 Branches and 2,566 ATMs.
also was merged with OBC. OBC is engaged in Key Ratios (%)
treasury operations, corporate or wholesale
TI Growth (y-o-y) (1.2)
banking and retail banking operations. It offers
various other products and services such as Business Growth (y-o-y) 2.4
(As on Mar 31, 2016)

Punjab & Sind Bank

21, Bank House, Rajendra Place, New Delhi 110008, Delhi
Website: www.psbindia.com

Business Profile term loans, short-term loans, cash and export Dun & Bradstreet D-U-N-S No 91-535-6179
Punjab & Sind Bank (P&SB) was incorporated credit, bill discounting and working capital Financials (` mn)
in 1908 as The Punjab and Sind Bank Ltd. In finance. The bank opened 32 new branches and
Total Income 92,228.3
1980, the bank got nationalised and acquired installed 71 new ATMs in FY16. The total number
its present name. P&SBs business is primarily of ATMs as on Mar 31, 2016 is 1,341. Some of Total Business 1,551,660.4
divided into treasury, retail banking, corporate the new initiatives during the year included
Net Profit 3,359.7
banking, priority sector banking and other Mudra Card for small scale units, implementing
banking services. In retail banking it provide Jeevan Praman a biometric authentication of Key Ratios (%)
loans and advances for housing, trade, pensioners, new schemes for financing farm
TI Growth (y-o-y) 2.3
automobiles, education and personal loans. mechanization and vehicles for agriculturists.
P&SBs corporate banking products include Business Growth (y-o-y) 3.0
(As on Mar 31, 2016)

Punjab National Bank

7, Bhikaiji Cama Place, New Delhi 110607, Delhi
Website: www.pnbindia.in

Business Profile were added. PNB also added 32 women only Dun & Bradstreet D-U-N-S No 65-005-6740
Punjab National Bank (PNB) commenced its branches named Akshaya during the year. Financials (` mn)
operations in 1895, and was nationalized in These branches are managed exclusively by
Total Income 543,013.7
1969. In 1993, New Bank of India was merged women for the women customers only. It also
with PNB and further in 2003, Nedungadi Bank launched a slew of innovative digital products Total Business 9,653,769.3
Ltd was amalgamated with the bank. Under and solutions in FY16 such as PNB ATM Assist,
Net Profit (39,744.0)
personal banking, the bank offers savings, PNB MobiEase, PNB Sleep Easy, Green PIN,
current, fixed deposits, credit, doorstep etc. A saving product, named PNB POWER Key Ratios (%)
banking services etc. The bank has a branch SAVINGS exclusively for women was launched
TI Growth (y-o-y) 4.0
network of 6,759 and 9,463 ATMs as on Mar in March 2016.
31, 2016. During FY16, 202 new branches Business Growth (y-o-y) 9.5
(As on Mar 31, 2016)

RBL Bank Limited

First Lane, Shahupuri, Kolhapur - 416001, Maharashtra
Website: www.rblbank.com

Business Profile others. The bank caters to businesses, financial Dun & Bradstreet D-U-N-S No 91-535-9277
RBL Bank Ltd (RBL Bank), a scheduled institutions & government sectors and offers Financials (` mn)
commercial bank, was established in 1943. products & services such as cash credit, trade
Total Income 32,348.5
RBL offers specialized services in five business finance, supply chain financing solutions etc.
verticals namely: corporate & institutional for corporate and institutional banking. RBL Total Business 455,777.3
banking, commercial banking, retail banking, Bank has various products to offer for micro
Net Profit 2,924.8
agri & development banking and financial and small business banking such as Ratna
markets. Under commercial banking, it Pragati and Ratna Unnatti among others. As of Key Ratios (%)
provides services to SMEs including credit for March 2016, RBL Bank has grown to a network
TI Growth (y-o-y) 37.3
supply chain management, commercial vehicle of 197 branches and 362 ATMs across 13 Indian
finance; short-term loan and term loan among states. Business Growth (y-o-y) 44.5
(As on Mar 31, 2016)

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Indias Leading BFSI Companies 2017

The Royal Bank of Scotland N.V.

Brady House,1st Floor, 14, Veer Nariman Road, Fort, Mumbai - 400023, Maharashtra
Website: www.rbs.in

Business Profile manner. Dun & Bradstreet D-U-N-S No 87-219-4911

The Royal Bank of Scotland N.V. (RBS) started Financials (` mn)
its Indian operations since 1921. RBS group
Total Income 13,589.8
acquired the business of ABN AMRO Bank in
India and renamed it as The Royal Bank of Total Business 115,013.7
Scotland N.V. in 2010. RBS clients comprise blue-
Net Profit 289.6
chip Indian corporations, leading multinational
corporations, large financial institutions, Key Ratios (%)
the Indian government and high net-worth
TI Growth (y-o-y) (23.0)
companies. In FY17, RBS commenced closing of
its retail banking branches in India in a phased Business Growth (y-o-y) (46.9)
(As on Mar 31, 2016)

Sberbank
Gopal Das Bhawan, 28 Barakhamba Road, Connaught Place, New Delhi - 110001, Delhi
Website: www.sberbank.co.in

Business Profile segment by offering deposittaking, settlement Dun & Bradstreet D-U-N-S No 87-360-2743
Sberbank (Sberbank) was established in 1841. services, project, trade and export finance, cash Financials (` mn)
The bank offers a wide range of banking management and other core banking activities.
Total Income 437.1
services or retail customers which include
traditional deposits, various types of loans, Total Business 3,860.6
bank cards, money transfers, bank insurance
Net Profit (6.0)
and brokerage services. Globally, the bank has
presence in 22 countries which include CIS Key Ratios (%)
countries of Kazakhstan, Ukraine and Belarus,
TI Growth (y-o-y) (17.6)
nine countries of Central and Eastern Europe
and in Turkey. The bank caters to the corporate Business Growth (y-o-y) 6.8
(As on Mar 31, 2016)

SBM Bank (Mauritius) Limited

101, Raheja Centre, Free Press Journal Marg, Nariman Point, Mumbai 400021, Maharashtra
Website: www.sbmgroup.mu

Business Profile others. Under retail banking it offers deposit/ Dun & Bradstreet D-U-N-S No 86-221-6983
SBM Bank (Mauritius) Ltd (SBM) was established savings account, NRO & NRE accounts, mortgage Financials (` mn)
in Mauritius in 1973. SBM has presence in loan, personal loan, housing loan & money
Total Income 1,430.5
Mumbai, India since 1994. The bank also has transfer in both local and foreign currencies.
a network of three other branches in India at SBM provides services under corporate Total Business 15,987.2
Chennai, Hyderabad and Ramachandrapuram. banking such as traditional banking products,
Net Profit (429.3)
Its lines of business include: retail banking, transactional banking services, asset finance,
SME banking, wealth management & private commercial loan and working capital finance, Key Ratios (%)
banking, corporate banking and international project finance etc. SBM as an authorised
TI Growth (y-o-y) (6.0)
banking & global business, treasury services, foreign exchange dealer offers forex conversion
asset financing and asset management among and hedging solutions to FII. Business Growth (y-o-y) 12.1
(As on Mar 31, 2016)

Shinhan Bank
Wockhardt Towers, 5th floor, West Wing, BKC, Bandra (E), Mumbai - 400051, Maharashtra
Website: www.Shinhanbankindia.com

Business Profile Shinhan offers fixed deposit, savings bank Dun & Bradstreet D-U-N-S No 65-063-2404
Shinhan Bank (Shinhan), established in 1897, accounts & recurring deposit accounts along Financials (` mn)
is a wholly owned subsidiary of Shinhan with debit cards, internet banking, RTGS / NEFT
Total Income 3,591.4
Financial Group. Shinhan commenced its Indian facilities, personal and housing loans among
operations in May 1996. In India, the bank others. The banks main departments are Total Business 68,100.1
provides services under two main segments operations, remittance, imports, credit, exports
Net Profit 650.4
namely corporate and retail banking. Under and audit among others. Shinhan opened its first
corporate banking, it offers products in the ATM in India in Aug 2014. The bank operates a Key Ratios (%)
trade, liability and asset aspects of banking. The network of four branches across Mumbai, New
TI Growth (y-o-y) 13.8
bank offers letter of credit (LC) backed inland Delhi, Kancheepuram and Pune.
& export bill discounting. Under retail banking, Business Growth (y-o-y) 51.0
(As on Mar 31, 2016)

30
 Indias Leading BFSI Companies 2017

Societe Generale
19th Floor, Tower A, Peninsula Business Park, Lower Parel, Mumbai 400013, Maharashtra
Website: www.societegenerale.in

Business Profile banking products like structured finance and Dun & Bradstreet D-U-N-S No 91-843-6937
Societe Generale (Societe Generale) has derivatives among others. Services offered by Financials (` mn)
presence in India since 1978 with the opening the bank include commercial banking products,
Total Income 4,814.0
of a representative office in Delhi. In 1985, including working capital facilities, export &
Societe Generale started its first full-fledged import finance, INR term loans, letters of credit, Total Business 71,109.3
banking branch in Mumbai and a second bank guarantees, forex forwards, hedging
Net Profit 575.9
branch in Delhi in 1993. In India, it offers solutions etc. Other services provided by the
various banking facilities and services such as bank include correspondent banking, offshore Key Ratios (%)
customer deposits, plain vanilla working capital energy hedging and commodity derivatives.
TI Growth (y-o-y) 9.6
loans, term loans, trade finance, corporate The bank operates in India through three
foreign exchange services as well as investment functioning offices in India. Business Growth (y-o-y) 7.1
(As on Mar 31, 2016)

The South Indian Bank Limited

SIB House, TB Road, Mission Quarters, Thrissur - 680001, Kerala
Website: www.southindianbank.com

Business Profile NPS, travel card, CMS and online trading Dun & Bradstreet D-U-N-S No 91-574-1672
The South Indian Bank Ltd (SIB) was incorporated among others. Its business banking portfolio Financials (` mn)
as a private sector bank in 1929 in the state of encompasses business accounts, domestic
Total Income 60,746.2
Kerala. The bank became a scheduled bank finance, international finance, money transfers
in 1946 under the RBI Act. In 1990, the bank and other value added services. SIB has opened Total Business 968,064.8
entered merchant banking business and in 29 new offices and 87 ATMs across the country
Net Profit 3,332.7
1998, the bank came out with its IPO. Under during FY16. The bank had a network across
personal banking, it offers a host of products India with 834 branches and 1287 ATMs as on Key Ratios (%)
and services including; accounts & deposits, Mar 31, 2016.
TI Growth (y-o-y) 5.0
loans, mutual funds, insurance, money transfer
and other value added services like demat, Business Growth (y-o-y) 8.4
(As on Mar 31, 2016)

Standard Chartered Bank

23-25, Mahatma Gandhi Road, Fort, Mumbai 400001, Maharashtra
Website: www.sc.com/in

Business Profile credit and debit cards, personal and home Dun & Bradstreet D-U-N-S No 65-007-2791
Standard Chartered Bank (Standard Chartered) loans among others. It also offers short term Financials (` mn)
was formed in 1969 by the merger of the lending, trade services, transaction banking,
Total Income 120,125.8
Standard Bank of British South Africa and the protection solutions and cross border solutions.
Chartered Bank of India, Australia and China. Standard Chartered also offers the RTGS facility Total Business 1,417,291.1
Standard Chartered has been banking in and online services such as online banking,
Net Profit 10,065.0
India since 1858. The bank provides personal, eStatement, payment getaway and mobile
priority, private, NRI, business and corporate & services like breeze mobile web, SMS banking Key Ratios (%)
institutional banking services. Under personal and prepaid mobile top up. Standard Chartered
TI Growth (y-o-y) (10.7)
banking, it offers products such as savings has partnered with National Financial Switch
and current accounts, depository services, (NFS) and Cashnet shared ATM networks. Business Growth (y-o-y) 0.3
(As on Mar 31, 2016)

State Bank of Bikaner & Jaipur

Tilak Marg, C Scheme, Jaipur - 302005, Rajasthan
Website: www.sbbjbank.com

Business Profile services, treasury services etc. As on Mar 31, Dun & Bradstreet D-U-N-S No 65-033-2554
State Bank of Bikaner & Jaipur (SBBJ) traces its 2016, the total number of branches stood at Financials (` mn)
roots back to 1943-44, when Bank of Bikaner and 1,316. It installed 212 ATMs during the year,
Total Income 106,495.2
Bank of Jaipur were formed. These two separate taking the total number of ATMs to 1,954. SBBJ
entities were incorporated as subsidiaries of SBI Solar loan scheme, SBBJ Grih Alankar and SBBJ Total Business 1,669,323.1
in 1960 and subsequently in 1963, were merged Easy Car loan are some of the loan schemes
Net Profit 8,506.0
as a single entity under the name of SBBJ. The introduced by SBBJ during FY16.
bank caters to wide variety of customers by Key Ratios (%)
offering a bouquet of services such as personal
TI Growth (y-o-y) 7.2
banking, NRI services, international banking,
corporate banking, agricultural products, SME Business Growth (y-o-y) 8.5
(As on Mar 31, 2016)

31
Indias Leading BFSI Companies 2017

State Bank of Hyderabad

Gunfoundry, Abids, Hyderabad - 500001, AP
Website: www.sbhyd.com

Business Profile agriculture banking and NRI banking services. Dun & Bradstreet D-U-N-S No 65-067-5630
State Bank of Hyderabad (SBH) was incorporated SBH also has tie-up arrangements with SBI Life Financials (` mn)
in 1941 as Hyderabad State Bank. In 1953, the Insurance Co Ltd, SBI General Insurance Co Ltd,
Total Income 156,327.8
bank took over the assets and liabilities of SBI Cards and Payments Services (P) Ltd and SBI
Hyderabad Mercantile Bank Ltd and also started MF for selling life insurance, general insurance, Total Business 2,482,394.1
conducting government and treasury business credit cards and mutual funds respectively. As
Net Profit 10,649.2
as an agent of the RBI. The bank was taken over of March 2016, SBH had a network of 1,954
by RBI as its subsidiary in 1956 and acquired functioning offices and 2,380 ATMs across Key Ratios (%)
its present name. SBH provides wide range of India.
TI Growth (y-o-y) 3.2
deposits and loan products under personal
banking, MSME services, corporate banking, Business Growth (y-o-y) 5.5
(As on Mar 31, 2016)

State Bank of India

State Bank Bhavan, Madame Cama Road, Mumbai - 400021, Maharashtra
Website: www.sbi.co.in

Business Profile application centres in Bangladesh. After opening Dun & Bradstreet D-U-N-S No 65-005-6914
State Bank of India (SBI) was founded in 1806, 451 new branches and 286 ATMs during the Financials (` mn)
as Bank of Calcutta and subsequently evolved year, the branch network of the bank reached a
Total Income 1,918,436.7
into SBI in the year 1955. SBI primarily operates total of 16,784 branches and 42,740 ATMs as of
in the business segments namely personal Mar 31, 2016. SBI launched the mobile banking Total Business 31,944,228.5
banking, agricultural banking, international applications State Bank Anywhere Saral and
Net Profit 99,506.5
banking and other banking operations. SBIs State Bank Anywhere Corporate in FY16. It also
international banking operation spans across introduced the Loyalty Car Loan Scheme for Key Ratios (%)
196 offices spread across 37 countries in existing Housing Loan borrowers during the
TI Growth (y-o-y) 9.6
the world. During FY16, it opened two new year.
branches in United Kingdom and four Indian visa Business Growth (y-o-y) 11.0
(As on Mar 31, 2016)

State Bank of Mysore

Mysore Bank Circle, K. G. Road, Bengaluru - 560254, Karnataka
Website: www.statebankofmysore.co.in

Business Profile loans, mortgage loans, housing loans etc. Under Dun & Bradstreet D-U-N-S No 87-177-6448
State Bank of Mysore (SB Mysore) was founded in commercial banking, the bank provides various Financials (` mn)
1913 as Bank of Mysore Ltd under the patronage schemes like Traders-Liberalised Trade Finance,
Total Income 79,378.5
of the erstwhile Government of Mysore. In SBM Paryatan Plus among others. The bank
1960, the bank became an associate of SBI. SB opened 25 new branches during FY16. During Total Business 1,245,224.7
Mysore offers various deposits schemes which FY16, SB Mysore installed 82 ATMs, taking the
Net Profit 3,578.5
include Mybank Suraksha Savings Account, total number of ATM installed to 1,416 as on
Mybank Suraksha Savings Plus Account, Mybank Mar 31, 2016. Under personal segment, two Key Ratios (%)
Suraksha Time Deposit Account; savings new deposit products were introduced during
TI Growth (y-o-y) 3.0
account and term deposits among others. the year namely Vidyarthi Sanchay and Mybank
Under personal banking, it provides personal Sudhan. Business Growth (y-o-y) 5.4
(As on Mar 31, 2016)

State Bank of Patiala

The Mall, Patiala - 147001, Punjab
Website: www.sbp.co.in

Business Profile deposits schemes such as Suraksha saving bank Dun & Bradstreet D-U-N-S No 86-220-7669
State Bank of Patiala (SBP) was incorporated account, students saving bank account, SBP Financials (` mn)
in 1917 as the Patiala State Bank. In 1948 the Invest Smart account etc. Under rural banking,
Total Income 115,784.6
bank was reorganised and bought under the SBP offers schemes for vegetable cultivation,
control of the RBI. The bank eventually went commercial dairy, marketing agriculture Total Business 1,891,393.7
on to acquire its present name in 1960 after it products etc. SBP has tie-up arrangements with
Net Profit (9,724.0)
became a subsidiary of SBI. SBP offers a wide SBI Life Insurance, SBI General Insurance, SBI
range of products and services under personal Cards & Payment Services and SBIMF for selling Key Ratios (%)
banking, agri & rural banking, corporate life insurance, non-life insurance, credit card
TI Growth (y-o-y) 1.9
banking, MSME financing and NRI services & and MF products.
e-services. Under personal banking, SBP offers Business Growth (y-o-y) 11.2
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

State Bank of Travancore

Poojapura, Thiruvananthapuram - 695012, Kerala
Website: www.statebankoftravancore.com

Business Profile vyapar suvidha loan scheme, rent plus, flexi Dun & Bradstreet D-U-N-S No 65-007-9668
State Bank of Travancore (SBT) was incorporated loan for traders etc. The bank opened 23 new Financials (` mn)
in 1945 as Travancore Bank Ltd. In 1960, it was branches during FY16. As on Mar 31, 2016,
Total Income 107,570.7
made an associate of the SBI and a member of SBT had 1,177 branches, 1,707 ATMs and 12
the State Bank group and acquired its present extension counters and was represented in 16 Total Business 1,665,850.7
name. SBT offers various services such as States and 3 Union Territories. It introduced
Net Profit 3,377.3
personal banking, NRI banking, corporate new products during the year, such as Dealer
banking, MSME and agriculture banking. Under Finance Scheme, Vizhinjam Port Package, SBT Key Ratios (%)
personal banking, SBT provides various deposit NRI Family Card, etc.
TI Growth (y-o-y) 1.6
schemes, loan products and savings & current
accounts. Under corporate banking, SBT offers Business Growth (y-o-y) 4.2
(As on Mar 31, 2016)

Sumitomo Mitsui Banking Corporation

13th floor, Hindustan Times House, Kasturba Gandhi Marg, New Delhi 110001, Delhi
Website: www.smbc.co.jp

Business Profile retail sales and trading, securities investment, Dun & Bradstreet D-U-N-S No 65-097-4939
Sumitomo Mitsui Banking Corporation (SMBC) fund transfer, foreign exchange, insourcing Financials (` mn)
was established in Apr 2001 through the merger of financial futures transactions, corporate
Total Income 6,546.1
of The Sakura Bank, Ltd and The Sumitomo Bank, bond trustee and custody services, retail
Ltd. Sumitomo Mitsui Financial Group Inc. was sales of insurance products etc. It also offers Total Business 81,746.0
established in December 2002 through a stock financial services like trade finance, structured
Net Profit 1,456.8
transfer as a bank holding company, and SMBC finance, syndicated loans, project finance, cash
became a wholly-owned subsidiary of SMFG. In management service and custody and securities Key Ratios (%)
March 2003, SMBC merged with the Wakashio services. It is engaged in the leasing, securities,
TI Growth (y-o-y) 68.2
Bank, Ltd. The bank products and services credit card, investment and other credit related
include deposit taking, lending, securities businesses amongst others. Business Growth (y-o-y) 115.0
(As on Mar 31, 2016)

Syndicate Bank
Door No. 16/355 & 16/365A, Post Box No 1, Manipal 576104, Karnataka
Website: www.syndicatebank.in

Business Profile transfer, insurance and MF services amongst Dun & Bradstreet D-U-N-S No 87-178-8185
Syndicate Bank (Syndicate) was incorporated in others. During FY16 the bank added 251 Financials (` mn)
1925 as Canara Industrial and Banking Syndicate branches to its network and the total number of
Total Income 257,065.1
Ltd. In 1953, Maharashtra Apex Bank Ltd and branches stood at 3,766 as on Mar 31, 2016. The
Southern India Apex Bank Ltd along with other total number of ATMs installed by Syndicate till Total Business 4,631,038.3
18 banks merged with the bank. In 1963, the Mar 31, 2016 stood at 3,730. It introduced new
Net Profit (16,434.9)
name of the bank changed to Syndicate Bank products like Synd Rd Plus, SyndGuide and Synd
Ltd and in 1969, the bank got nationalised. Swayam-Savings Bank Online Account Opening Key Ratios (%)
Syndicate offers a wide range of deposit Service among others.
TI Growth (y-o-y) 8.4
products, loan products, cash management
services, NRI services, NEFT for electronic fund Business Growth (y-o-y) 1.1
(As on Mar 31, 2016)

Tamilnad Mercantile Bank Limited

57, V. E Road, Thoothukudi - 628002, TN
Website: www.tmb.in

Business Profile account among others. Under NRI banking, Dun & Bradstreet D-U-N-S No 65-066-0012
Tamilnad Mercantile Bank Ltd (TMB) was it provides FCNR-B, NRE, NRO, RFC accounts; Financials (` mn)
formed as Nadar Bank Ltd in 1921. In 1993, money transfer & forex services and travel cards
Total Income 35,706.7
the bank established its first currency chest at among others. Under business & corporate
Madurai and industrial finance branches in TN banking, the bank provides business accounts Total Business 529,465.8
and AP. TMB primarily operates in personal such as current account, cash credit account;
Net Profit 4,021.6
banking, NRI & international banking and commercial loans such as SME credit, tractor
business & corporate banking segments. Under loan, trader or service loan etc. The bank had Key Ratios (%)
personal banking, the bank provides savings 487 branches all over India and 1025 ATMs in
TI Growth (y-o-y) 14.2
account, fixed deposits, recurring deposits; FY16.
retail loans, mobile or SMS banking and demat Business Growth (y-o-y) 17.7
(As on Mar 31, 2016)

33
Indias Leading BFSI Companies 2017

UCO Bank
10 BTM, Sarani, Barbourne Road, 7th floor, Kolkata - 700001, WB
Website: www.ucobank.com

Business Profile Kisan Tatkal Scheme, UCO Estate Purchase Loan Dun & Bradstreet D-U-N-S No 65-009-5433
UCO Bank (UCO) was incorporated in 1943 Scheme, Kisan Credit Card and UCO Mahila Financials (` mn)
as The United Commercial Bank Ltd and was Utthan amongst others. The bank opened 57
Total Income 201,572.8
nationalized in 1969. In 1985, UCO acquired branches during FY16. UCO had 10 circle offices,
its present name. It primarily offers personal 49 zones, 3,073 domestic branches, 2,564 ATMs Total Business 3,330,236.1
banking, corporate banking, international and and 4 overseas branches, as on Mar 31, 2016.
Net Profit (27,992.6)
rural banking. Personal banking segment of The bank also launched new schemes during
UCO offers services such as deposits, loans/ the year such as UCO Pre-approved Home Loan Key Ratios (%)
advances and debit card services. Under rural scheme and UCO HOME Loan Campaigns.
TI Growth (y-o-y) (5.6)
banking, UCO provides finance to MSME and
agriculture sector and offers schemes like UCO Business Growth (y-o-y) (7.9)
(As on Mar 31, 2016)

Union Bank of India

Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai - 400021, Maharashtra
Website: www.unionbankofindia.co.in

Business Profile over bio-metric cards. It has tied-up with Shri Dun & Bradstreet D-U-N-S No 65-008-2340
Union Bank of India (Union Bank) was Kshetra Dharmasthala Rural Development Financials (` mn)
incorporated in 1919. In 1969, it was nationalized Project (SKDRDP) an NGO for financing of Self
Total Income 358,305.4
and acquired its present name. Under personal Help Group (SHGs). Union Bank entered into an
banking, the bank offers savings & deposit agreement with CSC e-Governance India Ltd for Total Business 6,100,740.1
accounts, retail loan schemes, insurance & launching kiosk banking manned by Business
Net Profit 13,516.0
investment plans, credit & debit cards etc. Under Correspondents (BCs) at various places. The
corporate banking, it offers loan syndication, bank had a branch network of 4,196 branches Key Ratios (%)
trade financing, non-life insurance plans, e-tax across the county, four branches abroad and
TI Growth (y-o-y) 0.6
payment services etc. It has launched a specially 6,883 ATMs as on Mar 31, 2016.
devised micro-loan product known as Pragati Business Growth (y-o-y) 6.6
(As on Mar 31, 2016)

United Bank of India

11, Hemanta Basu Sarani, Kolkata - 700001, WB
Website: www.unitedbankofindia.com

Business Profile insurance business. It also has tie-ups with nine Dun & Bradstreet D-U-N-S No 87-179-4493
United Bank of India (United Bank) was formed AMCs for distribution of mutual fund products. Financials (` mn)
in 1950, as United Bank of India Ltd with the The bank has overseas presence through
Total Income 114,042.0
amalgamation of four banks namely, Comilla representative offices at Dhaka in Bangladesh
Banking Corporation Ltd, Bengal Central Bank and Yangoan in Myanmar. As on 31.03.2016 the Total Business 1,844,614.8
Ltd, Camilla Union Bank Ltd and Hooghly Bank total number of branches of the Bank stands
Net Profit (2,819.6)
Ltd. The Bank was nationalized in 1969. United at 2011. In Oct 2015, United Bank entered
bank primarily operates in retail banking, into strategic alliance with Kotak Securities to Key Ratios (%)
corporate banking, MSME and international provide equity broking services to its customers
TI Growth (y-o-y) (4.4)
banking. United bank has corporate agency through U-Connect TRIO.
agreement with Bajaj Allianz and LIC for Business Growth (y-o-y) 5.1
(As on Mar 31, 2016)

United Overseas Bank

3 North Avenue , Maker Maxity, 31 & 37, 3rd Floor , BKC, Bandra (E), Mumbai - 400051, Maharashtra
Website: www.uobgroup.com/in

Business Profile services; while under corporate banking, it Dun & Bradstreet D-U-N-S No 87-255-8286
United Overseas Bank (UOB) was incorporated in offers loans, foreign exchange services, trade Financials (` mn)
1935 as the United Chinese Bank. It acquired its finances and offshore and FDI services among
Total Income 1,164.0
current name in 1965. It opened its first branch oithers. It also caters to NRI client base by
in India in Dec 2009 in Mumbai. UOB provides offering Foreign Currency Non-Resident Deposit Total Business 15,166.8
a wide range of financial services which include (FCNR) services.
Net Profit 352.5
retail and wholesale banking services, including
lending, treasury and trade finance products, Key Ratios (%)
to individuals, corporations and financial
TI Growth (y-o-y) 51.3
institutions. Under personal banking, it offers
basic savings and current account and deposit Business Growth (y-o-y) 54.6
(As on Mar 31, 2016)

34
 Indias Leading BFSI Companies 2017

Vijaya Bank
41/2, M.G. Road, Bengaluru 560001, Karnataka
Website: www.vijayabank.com

Business Profile the total branch network to 1,863 branches. As Dun & Bradstreet D-U-N-S No 65-007-9858
Vijaya Bank (Vijaya Bank), a GoI undertaking was at 31st March 2016, the bank had 1,651 ATMs. Financials (` mn)
established in 1931 in Mangalore, Karnataka. In For credit delivery to micro entrepreneurs, it
Total Income 129,574.4
1958, the bank became a schedule commercial launched V-Mudra Card and V-Swadesh scheme
bank. During the period of 1963-68 Vijaya Bank in FY16. During the financial year, Bank launched Total Business 2,144,276.8
merged with nine other smaller banks. Vijaya new schemes including one for Financing Food
Net Profit 3,818.0
Bank was nationalised in April 1980. Vijaya Banks and Agro Processing units, a Revised Debt Swap
product portfolio includes savings & deposits, Scheme and a new version of Mobile Banking. Key Ratios (%)
loan & advances products, NRI services, cards
TI Growth (y-o-y) (1.5)
services and remittances & collection services.
Vijaya Bank added 246 branches in FY16, taking Business Growth (y-o-y) 0.7
(As on Mar 31, 2016)

Westpac Banking Corporation

B - 1201, The Capital, C-70 G Block, BKC, Bandra (E), Mumbai 400051, Maharashtra
Website: www.westpac.in

Business Profile their families. Its wide range of products and Dun & Bradstreet D-U-N-S No 87-231-4001
Westpac Banking Corporation (WBC) was services include; corporate & Institutional client Financials (` mn)
established in 1817 as the Bank of New South management, trade finance, transactional
Total Income 1,724.0
Wales. The bank acquired its current name post banking, foreign exchange, debt markets,
its merger with Commercial Bank of Australia commodities, carbon and energy and personal Total Business 24,198.3
in 1982. The bank operates in India through banking.
Net Profit 243.3
its Mumbai office. It caters to corporate and
institutional customers, multinational and Key Ratios (%)
Australian companies in India, individuals,
TI Growth (y-o-y) 1.7
including non-resident Indians, and students
travelling to Australia and New Zealand and Business Growth (y-o-y) 33.3
(As on Mar 31, 2016)

Woori Bank
6th Floor, EA Chambers, No. 49, 50L, Whites Road, Royapettah, Chennai 600014, TN
Website: http://in.wooribank.com

Business Profile overdraft, vendor financing, ECBs, guarantees, Dun & Bradstreet D-U-N-S No 65-064-7154
Woori Bank (Woori Bank) was established as export bills of collection, export finance and LC Financials (` mn)
Chosun Trust Company in 1932 and was later advising among others.
Total Income 772.3
renamed as Hanvit Bank. In 2002, it acquired
its present name. In India, it operates through Total Business 7,334.0
its branch in Chennai. The banks products
Net Profit 181.8
and services include; deposits, loans, foreign
exchange, remittance, import/export and card Key Ratios (%)
services among others. Its offerings encompass
TI Growth (y-o-y) 9.3
FDs, recurring deposits, savings/current account,
EEFC account, POAIFC account, term loans, Business Growth (y-o-y) 3.3
(As on Mar 31, 2016)

Yes Bank Limited

Nehru Centre, 9th Floor, Dr. A. B. Road, Worli, Mumbai 400018, Maharashtra
Website: www.yesbank.in

Business Profile management solutions to name a few. In Oct Dun & Bradstreet D-U-N-S No 91-863-0500
Yes Bank Ltd (Yes Bank) was incorporated in 2015, it operationalised its IFSC Banking Unit Financials (` mn)
2003 and launched its corporate and business in Gujarat International Finance Tec City. As of
Total Income 162,455.9
banking in 2004. Yes Bank has four main Mar 31, 2016, it had over 860 branches and
segments viz., personal banking, business over 1600 ATMs. It has partnered with Snapdeal Total Business 2,099,294.6
banking, corporate banking and digital banking. and will power the FreeCharge Digital Wallet,
Net Profit 25,394.5
The bank provides a range of banking services launched by FreeCharge. Yes Bank has also
including working capital finance, specialised launched its first Currency Chest and Small Coin Key Ratios (%)
corporate finance, trade, cash management Depot in Mumbai in March 2016.
TI Growth (y-o-y) 19.3
& transactional services, treasury services,
investment banking solutions and liquidity Business Growth (y-o-y) 25.9
(As on Mar 31, 2016)

35
Indias Leading BFSI Companies 2017

36 Advertorial
Indias Leading BFSI Companies 2017 Total Income Listing 39

Indias Leading BFSI Companies 2017

Sr No Company Name Type Total Income (` mn)

1 Housing Development Finance Corporation Limited Housing Finance Company 309,565.7

2 Power Finance Corporation Limited NBFC 275,643.1

3 Rural Electrification Corporation Limited NBFC 237,562.8

4 National Bank for Agriculture and Rural Development FIs & Financial Services 207,301.2

5 LIC Housing Finance Limited Housing Finance Company 124,854.6

6 Shriram Transport Finance Company Limited NBFC 102,452.6

7 Indiabulls Housing Finance Limited Housing Finance Company 88,419.2

8 Export-Import Bank of India FIs & Financial Services 87,810.3

9 Indian Railway Finance Corporation Limited NBFC 75,073.0

10 Bajaj Finance Limited NBFC 73,834.8

11 Dewan Housing Finance Corporation Limited Housing Finance Company 73,167.2

12 Mahindra & Mahindra Financial Services Limited NBFC 59,051.0

13 Small Industries Development Bank of India FIs & Financial Services 57,846.1

14 Muthoot Finance Limited NBFC 48,750.2

15 Weizmann Forex Limited FIs & Financial Services 47,889.7

16 India Infrastructure Finance Company Limited NBFC 46,594.5

17 National Housing Bank FIs & Financial Services 42,126.0

18 Cholamandalam Investment and Finance Company Limited NBFC 41,937.1

19 Reliance Capital Limited NBFC 41,450.0

20 IFCI Limited NBFC 40,066.4

21 Shriram City Union Finance Limited NBFC 38,560.2

22 Tata Capital Financial Services Limited NBFC 34,713.4

23 Housing and Urban Development Corporation Limited FIs & Financial Services 33,022.0

24 HDB Financial Services Limited NBFC 33,020.2

25 Kotak Mahindra Prime Limited NBFC 27,615.6

26 PNB Housing Finance Limited Housing Finance Company 26,965.9

27 The National Small Industries Corporation Limited NBFC 26,854.4

28 Tata Motors Finance Limited NBFC 25,392.4

29 Religare Finvest Limited NBFC 25,282.9

40 Total Income Listing Indias Leading BFSI Companies 2017

Sr No Company Name Type Total Income (` mn)

30 Aditya Birla Finance Limited NBFC 24,866.0

31 Sundaram Finance Limited NBFC 24,750.2

32 L&T Infrastructure Finance Company Limited NBFC 24,361.5

33 L&T Finance Limited NBFC 23,519.9

34 Fullerton India Credit Company Limited NBFC 22,769.4

35 Manappuram Finance Limited NBFC 22,174.7

36 India Infoline Finance Limited NBFC 22,073.4

37 Magma Fincorp Limited NBFC 21,391.6

38 Muthoot Fincorp Limited NBFC 20,852.3

39 National Stock Exchange of India Limited FIs & Financial Services 20,445.4

40 IL&FS Financial Services Limited NBFC 19,215.6

41 SREI Infrastructure Finance Limited NBFC 18,963.3

42 ECL Finance Limited NBFC 18,865.8

43 Capital First Limited NBFC 18,478.4

44 Bajaj Holdings & Investment Limited NBFC 14,012.8

45 ICICI Securities Primary Dealership Limited NBFC 13,619.4

46 GRUH Finance Limited Housing Finance Company 12,754.0

47 Tata Capital Housing Finance Limited Housing Finance Company 12,654.5

48 PTC India Financial Services Limited NBFC 11,869.3

49 Indian Renewable Energy Development Agency Limited NBFC 11,745.4

50 Hinduja Leyland Finance Limited NBFC 11,456.9

51 Can Fin Homes Limited Housing Finance Company 10,835.4

52 ICICI Home Finance Company Limited Housing Finance Company 10,713.7

53 Ujjivan Financial Services Limited NBFC 10,276.1

54 Sundaram BNP Paribas Home Finance Limited Housing Finance Company 9,272.6

55 GIC Housing Finance Limited Housing Finance Company 8,763.7

56 SICOM Limited NBFC 8,158.2

57 Reliance Home Finance Limited Housing Finance Company 8,150.3

58 L&T FinCorp Limited NBFC 7,869.1

59 Family Credit Limited NBFC 7,782.2

60 L&T Housing Finance Limited Housing Finance Company 6,587.5

61 IndoStar Capital Finance Limited NBFC 6,413.8

Indias Leading BFSI Companies 2017 Total Income Listing 41

Sr No Company Name Type Total Income (` mn)

62 Tata Motors Finance Solutions Limited NBFC 6,341.9

63 Kotak Mahindra Investments Limited NBFC 6,037.1

64 The Clearing Corporation of India Limited FIs & Financial Services 6,007.5

65 India Infoline Housing Finance Limited Housing Finance Company 5,696.0

66 Satin Creditcare Network Limited NBFC 5,585.2

67 JM Financial Credit Solutions Limited NBFC 5,194.5

68 BSE Limited FIs & Financial Services 5,158.9

69 Mahindra Rural Housing Finance Limited Housing Finance Company 4,954.5

70 Andhra Pradesh State Financial Corporation FIs & Financial Services 4,815.4

71 STCI Finance Limited NBFC 4,563.2

72 SBI DFHI Limited NBFC 4,299.7

73 Indiabulls Commercial Credit Limited NBFC 3,838.5

74 Axis Finance Limited NBFC 3,729.9

75 STCI Primary Dealer Limited NBFC 3,440.4

76 PNB Gilts Limited NBFC 3,434.0

77 Edelweiss Financial Services Limited FIs & Financial Services 3,383.4

78 The National Securities Clearing Corporation Limited FIs & Financial Services 3,314.2

79 Edelweiss Finance & Investments Limited NBFC 3,246.0

80 Karnataka State Financial Corporation FIs & Financial Services 3,111.7

81 Credila Financial Services Private Limited NBFC 3,005.5

82 Stock Holding Corporation of India Limited FIs & Financial Services 2,927.7

83 Edelweiss Housing Finance Limited Housing Finance Company 2,733.4

84 Tata Investment Corporation Limited NBFC 2,520.7

85 Magma Housing Finance Housing Finance Company 2,424.2

86 Muthoot Capital Services Limited NBFC 2,284.9

87 IDFC Limited NBFC 2,258.8

88 Aspire Home Finance Corporation Limited Housing Finance Company 2,194.7

89 IIFL Holdings Limited FIs & Financial Services 2,114.1

90 Vistaar Financial Services Private Limited NBFC 1,940.5

91 S. E. Investments Limited NBFC 1,933.7

92 Tourism Finance Corporation of India Limited NBFC 1,856.5

93 National Commodity & Derivatives Exchange Limited FIs & Financial Services 1,737.4
42 Total Income Listing Indias Leading BFSI Companies 2017

Sr No Company Name Type Total Income (` mn)

94 Sakthi Finance Limited NBFC 1,720.7

95 Shriram Housing Finance Limited Housing Finance Company 1,674.7

96 Edelweiss Retail Finance Limited NBFC 1,614.7

97 JM Financial Limited NBFC 1,577.7

98 HDFC Investments Limited NBFC 1,546.9

99 North Eastern Development Finance Corporation Limited FIs & Financial Services 1,524.2

100 Nabard Financial Services Limited NBFC 1,445.1

101 National Securities Depository Limited FIs & Financial Services 1,375.0

102 Intec Capital Limited NBFC 1,317.3

103 Religare Enterprises Limited NBFC 1,263.8

104 Central Depository Services (India) Limited FIs & Financial Services 1,160.8

105 L&T Infra Debt Fund Limited NBFC 1,140.7

106 Motilal Oswal Financial Services Limited NBFC 1,108.6

107 Religare Housing Development Finance Corporation Limited Housing Finance Company 1,064.4

108 Tata Cleantech Capital Limited NBFC 1,049.2

109 Aditya Birla Housing Finance Limited Housing Finance Company 1,014.5

110 IFCI Factors Limited NBFC 909.2

111 A. K. Capital Services Limited FIs & Financial Services 719.7

112 Indian Clearing Corporation Limited FIs & Financial Services 696.0

113 LKP Finance Limited NBFC 583.4

114 India Infoline Insurance Brokers Limited FIs & Financial Services 571.7

115 Pilani Investment and Industries Corporation Limited NBFC 466.1

116 CSL Finance Limited NBFC 446.7

117 Manipal Housing Finance Syndicate Limited Housing Finance Company 423.2

118 Balmer Lawrie Investments Limited NBFC 382.3

119 Sustainable Agro-Commercial Finance Limited NBFC 369.1

Note
NBFC stands for Non-Banking Financial Company
FIs stand for Financial Institutions
Indias Leading BFSI Companies 2017 Total Income Listing 43

Non-Banking Financial Companies (NBFCs)

Sr No Company Total Income (` mn)

1 Power Finance Corporation Limited 275,643.1
2 Rural Electrification Corporation Limited 237,562.8
3 Shriram Transport Finance Company Limited 102,452.6
4 Indian Railway Finance Corporation Limited 75,073.0
5 Bajaj Finance Limited 73,834.8
6 Mahindra & Mahindra Financial Services Limited 59,051.0
7 Muthoot Finance Limited 48,750.2
8 India Infrastructure Finance Company Limited 46,594.5
9 Cholamandalam Investment and Finance Company Limited 41,937.1
10 Reliance Capital Limited 41,450.0
11 IFCI Limited 40,066.4
12 Shriram City Union Finance Limited 38,560.2
13 Tata Capital Financial Services Limited 34,713.4
14 HDB Financial Services Limited 33,020.2
15 Kotak Mahindra Prime Limited 27,615.6
16 The National Small Industries Corporation Limited 26,854.4
17 Tata Motors Finance Limited 25,392.4
18 Religare Finvest Limited 25,282.9
19 Aditya Birla Finance Limited 24,866.0
20 Sundaram Finance Limited 24,750.2
21 L&T Infrastructure Finance Company Limited 24,361.5
22 L&T Finance Limited 23,519.9
23 Fullerton India Credit Company Limited 22,769.4
24 Manappuram Finance Limited 22,174.7
25 India Infoline Finance Limited 22,073.4
26 Magma Fincorp Limited 21,391.6
27 Muthoot Fincorp Limited 20,852.3
28 IL&FS Financial Services Limited 19,215.6
29 SREI Infrastructure Finance Limited 18,963.3
30 ECL Finance Limited 18,865.8
44 Total Income Listing Indias Leading BFSI Companies 2017

Sr No Company Total Income (` mn)

31 Capital First Limited 18,478.4
32 Bajaj Holdings & Investment Limited 14,012.8
33 ICICI Securities Primary Dealership Limited 13,619.4
34 PTC India Financial Services Limited 11,869.3
35 Indian Renewable Energy Development Agency Limited 11,745.4
36 Hinduja Leyland Finance Limited 11,456.9
37 Ujjivan Financial Services Limited 10,276.1
38 SICOM Limited 8,158.2
39 L&T FinCorp Limited 7,869.1
40 Family Credit Limited 7,782.2
41 IndoStar Capital Finance Limited 6,413.8
42 Tata Motors Finance Solutions Limited 6,341.9
43 Kotak Mahindra Investments Limited 6,037.1
44 Satin Creditcare Network Limited 5,585.2
45 JM Financial Credit Solutions Limited 5,194.5
46 STCI Finance Limited 4,563.2
47 SBI DFHI Limited 4,299.7
48 Indiabulls Commercial Credit Limited 3,838.5
49 Axis Finance Limited 3,729.9
50 STCI Primary Dealer Limited 3,440.4
51 PNB Gilts Limited 3,434.0
52 Edelweiss Finance & Investments Limited 3,246.0
53 Credila Financial Services Private Limited 3,005.5
54 Tata Investment Corporation Limited 2,520.7
55 Muthoot Capital Services Limited 2,284.9
56 IDFC Limited 2,258.8
57 Vistaar Financial Services Private Limited 1,940.5
58 S. E. Investments Limited 1,933.7
59 Tourism Finance Corporation of India Limited 1,856.5
60 Sakthi Finance Limited 1,720.7
61 Edelweiss Retail Finance Limited 1,614.7
62 JM Financial Limited 1,577.7
63 HDFC Investments Limited 1,546.9
64 Nabard Financial Services Limited 1,445.1
65 Intec Capital Limited 1,317.3
66 Religare Enterprises Limited 1,263.8
Indias Leading BFSI Companies 2017 Total Income Listing 45

Sr No Company Total Income (` mn)

67 L&T Infra Debt Fund Limited 1,140.7
68 Motilal Oswal Financial Services Limited 1,108.6
69 Tata Cleantech Capital Limited 1,049.2
70 IFCI Factors Limited 909.2
71 LKP Finance Limited 583.4
72 Pilani Investment and Industries Corporation Limited 466.1
73 CSL Finance Limited 446.7
74 Balmer Lawrie Investments Limited 382.3
75 Sustainable Agro-Commercial Finance Limited 369.1

Housing Finance Companies

Sr No Company Total Income (` mn)

1 Housing Development Finance Corporation Limited 309,565.7

2 LIC Housing Finance Limited 124,854.6

3 Indiabulls Housing Finance Limited 88,419.2

4 Dewan Housing Finance Corporation Limited 73,167.2

5 PNB Housing Finance Limited 26,965.9

6 GRUH Finance Limited 12,754.0

7 Tata Capital Housing Finance Limited 12,654.5

8 Can Fin Homes Limited 10,835.4

9 ICICI Home Finance Company Limited 10,713.7

10 Sundaram BNP Paribas Home Finance Limited 9,272.6

11 GIC Housing Finance Limited 8,763.7

12 Reliance Home Finance Limited 8,150.3

13 L&T Housing Finance Limited 6,587.5

14 India Infoline Housing Finance Limited 5,696.0

15 Mahindra Rural Housing Finance Limited 4,954.5

16 Edelweiss Housing Finance Limited 2,733.4

17 Magma Housing Finance 2,424.2

18 Aspire Home Finance Corporation Limited 2,194.7

19 Shriram Housing Finance Limited 1,674.7

20 Religare Housing Development Finance Corporation Limited 1,064.4

21 Aditya Birla Housing Finance Limited 1,014.5

22 Manipal Housing Finance Syndicate Limited 423.2

46 Total Income Listing Indias Leading BFSI Companies 2017

Financial Institutions and Financial Services

Sr No Company Total Income (` mn)

1 National Bank for Agriculture and Rural Development 207,301.2

2 Export-Import Bank of India 87,810.3

3 Small Industries Development Bank of India 57,846.1

4 Weizmann Forex Limited 47,889.7

5 National Housing Bank 42,126.0

6 Housing and Urban Development Corporation Limited 33,022.0

7 National Stock Exchange of India Limited 20,445.4

8 The Clearing Corporation of India Limited 6,007.5

9 BSE Limited 5,158.9

10 Andhra Pradesh State Financial Corporation 4,815.4

11 Edelweiss Financial Services Limited 3,383.4

12 The National Securities Clearing Corporation Limited 3,314.2

13 Karnataka State Financial Corporation 3,111.7

14 Stock Holding Corporation of India Limited 2,927.7

15 IIFL Holdings Limited 2,114.1

16 National Commodity & Derivatives Exchange Limited 1,737.4

17 North Eastern Development Finance Corporation Limited 1,524.2

18 National Securities Depository Limited 1,375.0

19 Central Depository Services (India) Limited 1,160.8

20 A. K. Capital Services Limited 719.7

21 Indian Clearing Corporation Limited 696.0

22 India Infoline Insurance Brokers Limited 571.7

Note
Includes Development Financial Institutions, merchant bankers, wealth management companies, depository
and custodian service providers, stock exchanges, insurance brokers etc.
Indias Leading BFSI Companies 2017 Total Income Listing 47
Indias Leading BFSI Companies 2017

A.K. Capital Services Limited

403, 4th Floor, East Wing, Tulsiani Chambers, Free Press Journal Marg, 212, Nariman Point, Mumbai 400021
Website: www.akcapindia.com

Business Profile project financing among others. It mainly caters Dun & Bradstreet D-U-N-S No 86-031-2357
A. K. Capital Services Ltd (AK Capital), the flagship to government undertakings, banks, and private Financials (` mn)
company of AK Group, was incorporated in the corporates among others. The group operates
Total Income 719.7
year 1993 as A.K. Capital Services Pvt Ltd and through five subsidiaries and 10 branches across
later acquired its present name in 1994. The nine cities in the country. As per the companys Net Profit 185.7
company got registered with SEBI as Category FY16 annual report, AK Capital managed 175 Growth and Profitability (%)
I Merchant Banker in Apr 1998. AK Capital has assignments of private placement of debt
been engaged in providing various fee-based aggregating to ` 668.2 bn. TI Growth (y-o-y) (26.3)
services such as fund mobilisation through issue NP Growth (y-o-y) 1.5
of debt, equity, structured hybrid instruments,
NPM 25.8
venture capital, retirement trust solutions and
(As on Mar 31, 2016)

Aditya Birla Finance Limited

Indian Rayon Compound, Veraval - 362266, Gujarat
Website: www.adityabirlafinance.com

Business Profile and corporate working capital and business Dun & Bradstreet D-U-N-S No 65-070-1712
Aditya Birla Finance Ltd (ABFL) incorporated finance requirements. The commercial real Financials (` mn)
in 1991 is the non-banking financial company estate and mortgage solutions include loan
Total Income 24,866.0
of the Aditya Birla Financial Services Group. against property, lease rental discounting,
It provides investment solutions in capital and commercial property purchase loan and Net Profit 4,086.0
market, corporate finance, commercial real construction finance. Under infrastructure Growth and Profitability (%)
estate and mortgages, personal and business project and structured finance ABFL provides
loans, infrastructure project and structured project finance, mezzanine finance, bridge TI Growth (y-o-y) 39.7
finance. ABFLs capital market solutions provide finance and corporate loans. NP Growth (y-o-y) 51.0
funds against securities, promoter funding, IPO
NPM 16.4
financing; corporate finance caters to SMEs
(As on Mar 31, 2016)

Aditya Birla Housing Finance Limited

Indian Rayon Compound, Veraval Junagadh - 362266, Gujarat
Website: www. adityabirlahomeloans.com

Business Profile loan, plot and home construction loan and Dun & Bradstreet D-U-N-S No 86-031-2358
Aditya Birla Housing Finance Ltd (ABHFL) is a home construction loan. In addition to this, the Financials (` mn)
part of Aditya Birla Financial Service Group company also offers lease rental discounting
Total Income 1,014.5
and is registered with National Housing Bank and loan for commercial property purchase.
as a housing finance company. The company Net Profit (302.2)
offers an array of housing finance solutions Growth and Profitability (%)
such as home loans, home improvement and
construction loans, balance transfer and top-up TI Growth (y-o-y) 2,327.0
loans, loans against property and construction NP Growth (y-o-y) 489.1
finance. Under home loans, the company offers
NPM (29.8)
home extension loan, home improvement
(As on Mar 31, 2016)

Andhra Pradesh State Financial Corporation

5-9-194, Post Box No. 165, Chirag Ali Lane, Hyderabad - 500001, Telangana
Website: www.apsfc.com

Business Profile
Andhra Pradesh State Financial Corporation
(APSFC) is the merged entity of Andhra State
Financial Corporation and Hyderabad State
Financial Corporation incorporated in 1956
under the State Financial Corporations Act,
1951. The state level development institution
finances small and medium scale industries
by providing term loans, working capital term
loans, special and seed capital assistance.
APSFC in consortium with banks facilitates
higher working capital loans to business units Dun & Bradstreet D-U-N-S No 65-020-0090
through a memorandum of understanding Financials (` mn)
between them. It also caters to self-employed
Total Income 4,815.4
professionals like doctors and is focused in
supporting entrepreneurs. APSFCs non fund Net Profit 423.4
based services include marketing of life and Growth and Profitability (%)
non-life insurance products, accepting deposits,
student counseling, asset valuation, conducting TI Growth (y-o-y) 0.8
internal audits and training. During FY16 APSFC NP Growth (y-o-y) 9.9
disbursed ` 7581.1 mn loans and its cumulative
NPM 8.8
loan portfolio was ` 25570 mn.
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

Aspire Home Finance Corporation Limited

Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai- 400025
Website: www.ahfcl.com

Business Profile Mahila Awaas Loan from Aspire (MALA). In Dun & Bradstreet D-U-N-S No 65-092-3266
Aspire Home Finance Corporation Ltd (AHFCL), addition to these products, the company also Financials (` mn)
incorporated in 2014, is the subsidiary of Motilal provides property advisory services, technical
Total Income 2,194.7
Oswal Securities Ltd (MOSL) which is a part of services such as architectural and design
Motilal Oswal Financial Services Ltd (MOFSL). services, estimation and valuation, end-to-end Net Profit 400.0
AHFCL is registered with National Housing construction/design management, feasibility Growth and Profitability (%)
Bank (NHB) as a housing finance company. The study, site selection, project appraisal and
company offers various loan products such valuation among others. TI Growth (y-o-y) 817.9
as home loans (purchase/resale), plot loans, NP Growth (y-o-y) 1,743.3
construction loans, composite loans, home
NPM 18.2
improvement loans, home extension loans and
(As on Mar 31, 2016)

Axis Finance Limited

Axis House, Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra
Website: www.axisfinance.co.in

Business Profile financing. Corporate funding products include Dun & Bradstreet D-U-N-S No 87-172-3774
Axis Finance Ltd (AFL) incorporated in 1995 promoter funding, special situations funding, Financials (` mn)
is a wholly owned subsidiary of Axis Bank structured and mezzanine financing and real-
Total Income 3,729.9
Ltd. The company is a non deposit taking estate financing. AFL had zero NPAs during
systemically important non banking financial FY16 and as on Mar 31, 2016 AFLs cumulative Net Profit 1,107.7
company registered with RBI and caters to loan book was ` 33.39 bn which comprised of Growth and Profitability (%)
retail, corporate and institutional customers. more than 31% each from loan against shares
AFLs retail loan products include loan against and structured finance , 22% from real estate TI Growth (y-o-y) 66.3
shares, mutual funds, fixed deposits and financing and 14% from retail loans. NP Growth (y-o-y) 41.7
bonds, margin trade funding, employee stock
NPM 29.7
option financing, loan against property and IPO
(As on Mar 31, 2016)

Bajaj Finance Limited

Pune Road Akurdi, Pune 411035, Maharashtra
Website: www.bajajfinserv.in/finance

Business Profile
Bajaj Finance Ltd (BFL) incorporated in 1987 as
Bajaj Auto Finance Ltd., is part of Bajaj Group
of Companies and a subsidiary of Bajaj Finserv
Ltd. BFL is a registered Non-banking finance
company focused on six broad categories:
Consumer Lending, SME Lending, Commercial
Lending, Rural Lending, Fixed deposits; and
Value added services. Under consumer lending
BFL offers auto, consumer durables, digital
products, retailer, e-commerce finance, home
and personal loans, EMI card retail finance. Dun & Bradstreet D-U-N-S No 87-181-2394
SME lending includes loan against property, Financials (` mn)
lease rental discounting, business, professional,
Total Income 73,834.8
developer financing. Commercial lending
includes auto financing, loan against securities Net Profit 12,785.2
and corporate finance. Rural lending includes Growth and Profitability (%)
consumer durables finance, gold and refinance
loans. BFLs value added services include life and TI Growth (y-o-y) 36.3
general insurance, mutual fund, credit rating, NP Growth (y-o-y) 42.4
property and financial fitness report, insurance
NPM 17.3
risk report and property search services.
(As on Mar 31, 2016)

Bajaj Holdings & Investment Limited

Mumbai - Pune Road, Akurdi, Pune - 411035, Maharashtra
Website: www.bhil.in

Business Profile ND-SI) with investment activities in stock and Dun & Bradstreet D-U-N-S No 65-005-0578
Bajaj Holdings & Investment Ltd (BHIL) money markets. BHILs investment portfolio Financials (` mn)
erstwhile Bajaj Auto Limited-incorporated in during FY16 comprised of listed and unlisted
Total Income 14,012.8
1945 was demerged in 2007 into three entities equities, real estate funds, fixed income
- present BHIL and its associate companies Bajaj securities including government securities, Net Profit 12,705.1
Auto Limited (BAL) and Bajaj Finserv Limited debentures, bonds, mutual funds, certificate of Growth and Profitability (%)
(BFL). Besides associate companies BHIL has a deposit, commercial paper and fixed deposits
wholly-owned subsidiary Bajaj Auto Holdings with banks. TI Growth (y-o-y) 39.2
Ltd and a joint venture Maharashtra Scooters NP Growth (y-o-y) 43.6
Ltd. BHIL was registered in 2009 as systemically
NPM 90.7
important non-deposit taking NBFC (NBFC-
(As on Mar 31, 2016)

49
Indias Leading BFSI Companies 2017

Balmer Lawrie Investments Limited

21 Netaji Subhas Road Kolkata - 700001, West Bengal
Website: www.blinv.com

Business Profile Ministry of Petroleum and Natural Gas. The Dun & Bradstreet D-U-N-S No 92-118-3054
Balmer Lawrie Investments Ltd (BLIL) company generates income from two broad Financials (` mn)
incorporated in 2001 is a special purpose vehicle sources viz. dividend income from Balmer
Total Income 382.3
company formed due to the demerger of IBP Co. Lawrie & Co Ltd. and interest received from
Ltd. and its subsidiary Balmer Lawrie & Co. Ltd. investments in scheduled commercial banks. Net Profit 356.2
The demerger was due to reforms carried out in BLIL through its subsidiary Balmer Lawrie Co is a Growth and Profitability (%)
the countrys oil sector by the government. BLIL holding company of Balmer Lawrie (UK) Ltd and
is registered with RBI as a non-banking financial Vishakhapatnam Port Logistics Park Ltd. TI Growth (y-o-y) 0.1
company and it is restricted to a business activity NP Growth (y-o-y) (0.2)
of holding the shares of Balmer Lawrie & Co.
NPM 93.2
Ltd. BLIL is managed by Indian Governments
(As on Mar 31, 2016)

BSE Limited
Floor, 25, P. J. Towers, Dalal Street, Mumbai - 400001, Maharashtra
Website: www.bseindia.com

Business Profile there were 5911 companies listed including Dun & Bradstreet D-U-N-S No 65-009-1705
BSE Ltd (BSE) previously known as Bombay both equity and debt on BSE. Besides providing Financials (` mn)
Stock Exchange was established in 1875 as The a trading platform BSE through its subsidiaries is
Total Income 5,158.9
Native Share & Stock Brokers Association. BSE engaged in offering risk management, clearing,
is a corporatized and demutualised organization settlement, market data services and education Net Profit 1,061.2
which provides a trading platform in equity, services to capital market participants. On Mar Growth and Profitability (%)
debt instruments, derivatives, mutual funds and 14, 2016, SEBI granted permission to BSE to list
for equities of small-and-medium enterprises its equity shares on stock exchanges, for which TI Growth (y-o-y) 17.5
(SME). The stock exchange has strategic BSE will be issuing an IPO in FY18. NP Growth (y-o-y) 4.6
business partnerships with Deutsche Bourse
NPM 20.6
and Singapore Exchange. As on March, 31, 2016
(As on Mar 31, 2016)

Can Fin Homes Limited

No.29/1, Sir M.N. Krishna Rao Road, Basavanagudi, Bengaluru - 560004, Karnataka
Website: www.canfinhomes.com

Business Profile public, senior citizens and trusts. Its product Dun & Bradstreet D-U-N-S No 91-533-3715
Can Fin Homes Ltd (CFHL) promoted by Canara portfolio includes housing loans to individuals, Financials (` mn)
Bank was incorporated in 1987 and recognized loans under urban housing, composite loans,
Total Income 10,835.4
by National Housing Bank as a deposit accepting staff housing loans, site loans, line of credit,
housing finance company. As on September 30, urban refinancing scheme, builder loans. Non Net Profit 1,571.1
2016 Canara Bank held 43.45 % of its shares. As housing loans include mortgage loans, personal Growth and Profitability (%)
on September, 30, 2016 CFHL had 120 branches, loans, loans for commercial property, loans
50 satellite offices in 19 states which accept against rent receivables, loans to childrens TI Growth (y-o-y) 32.6
deposits from public and provide housing and education, flexible loan against property. NP Growth (y-o-y) 82.2
non-housing loans. CHL deposits include fixed
NPM 14.5
and cumulative deposits offered to general
(As on Mar 31, 2016)

Capital First Limited

One Indiabulls Centre, Tower 2A & 2B, 10th Floor, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013
Website: www.capitalfirst.com

Business Profile changed to Capital First Ltd, and its business Dun & Bradstreet D-U-N-S No 87-178-5582
Capital First Ltd (CFL) was incorporated in 2005 focused on providing debt financing to MSME Financials (` mn)
as KB Infin Pvt Ltd which in 2006 was converted and consumer sectors which include loan
Total Income 18,478.4
to a public limited company and renamed products for working capital, office automation,
Future Capital Holdings Ltd. The company was furniture, personal, two-wheeler, and consumer Net Profit 1,569.1
registered as a non deposit accepting NBFC durables amongst others. CFL has a distribution Growth and Profitability (%)
which provided Investment advisory, treasury network of 222 locations across the country
and wholesale credit and retail financial and its total AUM as on Mar 31, 2016 was TI Growth (y-o-y) 29.6
services. In 2012, private equity fund Warburg ` 1,60, 408 mn. NP Growth (y-o-y) 40.1
Pincus bought a majority stake through a
NPM 8.5
management buyout. The company name was
(As on Mar 31, 2016)

50
 Indias Leading BFSI Companies 2017

Central Depository Services (India) Limited

17th Floor, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001, Maharashtra
Website: www.cdslindia.com

Business Profile commercial papers and certificate of deposits Dun & Bradstreet D-U-N-S No 67-559-4757
Central Depository Services (India) Ltd (CDSL) among others. CDSL is connected to all major Financials (` mn)
was incorporated in 1997 and commenced stock exchanges in India including BSE, NSE
Total Income 1,160.8
business operations in July 1999. CDSL was and MCX-SX among others. As per CDSL, its
promoted by BSE Ltd in association with some depository network comprised of 584 DPs, 208 Net Profit 634.0
of the leading banks and insurance companies. branches with LIVE connectivity across 110 Growth and Profitability (%)
CDSL offers depository services to all the market cities/towns as on Dec 2016. During the same
participants and facilitates holding of securities period, it had more than 11 million investor TI Growth (y-o-y) 10.3
in the electronic form. It offers depository for accounts. NP Growth (y-o-y) 82.5
various types of securities including equities,
NPM 54.6
bonds, mutual funds, government securities,
(As on Mar 31, 2016)

Cholamandalam Investment and Finance Company Limited

Dare House, No. 2, N.S.C. Bose Road, Parrys, Chennai - 600001, TN
Website: www.cholamandalam.com

Business Profile
Cholamandalam Investment and Finance
Company Ltd (CIFCL) is part of the Murugappa
Group and was incorporated in 1978 as a non-
banking financial company. The companys
services include vehicle finance; business
finance, home equity loans, stock broking and
financial product distribution which are focused
in the rural and semi-urban sectors. In Sep
2016, CIFCL operated from 637 branches across
25 states and almost 90% of its operations are
located in Tier II, III and IV towns. Its subsidiaries Dun & Bradstreet D-U-N-S No 65-020-0264
include Cholamandalam Securities Limited Financials (` mn)
which is in the business of stock broking and
Total Income 41,937.1
depository participant services. Cholamandalam
Distribution Services Limited provides wealth Net Profit 5,684.5
management services and is a distributor Growth and Profitability (%)
of retail financial products including mutual
funds, general insurance, life insurance, bonds TI Growth (y-o-y) 13.6
and fixed deposits. During FY16 CIFCL bought NP Growth (y-o-y) 30.6
a majority stake in White Data Systems India
NPM 13.6
Private Limited a freight solution provider.
(As on Mar 31, 2016)

The Clearing Corporation of India Limited

CCIL Bhavan, College Lane, Off S. K. Bole Road, Dadar (W), Mumbai - 400028, Maharashtra
Website: www.ccilindia.com

Business Profile credit derivative transactions. CCIL has two Dun & Bradstreet D-U-N-S No 85-965-9937
The Clearing Corporation of India Ltd (CCIL) subsidiaries; Clearcorp Dealing Systems Financials (` mn)
incorporated in 2001 is a clearing house for (India) Ltd which provides dealing systems
Total Income 6,007.5
settlement of market trades in Government and platforms for trading in money market
Securities and inter-bank foreign exchange instruments, foreign exchange and other Net Profit 3,172.4
transactions, money and derivates markets. It financial market instruments; and Legal Entity Growth and Profitability (%)
provides non-guaranteed settlement for rupee Identifier India Ltd is engaged in business of
interest rate derivatives and cross currency Local Operating Unit (LOU) for the issuing, TI Growth (y-o-y) (9.2)
transactions through the CLS Bank and it is maintenance and provision of Legal Entity NP Growth (y-o-y) (14.7)
a trade repository for all OTC transactions Identifier (LEI) services in India or abroad.
NPM 52.8
in the foreign exchange, interest rate and
(As on Mar 31, 2016)

Credila Financial Services Private Limited

B-301, Citi Point, Andheri Kurla Road, Andheri East, Mumbai - 400059, Maharashtra
Website: www.credila.com

Business Profile of courses ranging from MBA, M. Tech, MS, Dun & Bradstreet D-U-N-S No 65-049-0514
Credila Financial Services Pvt Ltd (Credila) is a MMS to PGDBM; and a host of unconventional Financials (` mn)
subsidiary of Housing Development Finance courses in the field of Arts-Sports Management,
Total Income 3,005.5
Corporation Ltd. The company is a dedicated Media Arts-Commercial Music, Physiotherapy,
education loan company catering to the Sports Events Management, and MS-Advanced Net Profit 450.6
education needs of Indian students in India and Sports among others. As per the company Growth and Profitability (%)
overseas. It has two main products namely; annual report, its loan disbursal grew over 44%
secured loans and unsecured education loans. As to reach ` 11 bn catering to more than 6,600 TI Growth (y-o-y) 39.6
per the annual report of the company, secured students, covering over 2,100 educational NP Growth (y-o-y) 62.1
loans comprised nearly 54% of its education institutes across 35 countries.
NPM 15.0
loan portfolio of FY16. It funds a wide variety
(As on Mar 31, 2016)

51
Indias Leading BFSI Companies 2017

CSL Finance Limited

8/19, 3rd Floor, W.E.A., Pusa Lane, Karol Bagh, New Delhi - 110005, Delhi
Website: www.cslfinance.in

Business Profile proprietary investments; in 2011 the company Dun & Bradstreet D-U-N-S No 87-180-2628
CSL Finance Ltd (CSLFL) was incorporated as included secured lending. During FY16 the Financials (` mn)
Consolidated Securities Ltd in 1992 and in companys revenue was ` 446.7 mn lower by
Total Income 446.7
April 2016 it was renamed CSLFL. The company 52% compared to FY15 revenue of ` 937.7 mn
is registered as a non deposit accepting due to reduction in capital market investments Net Profit 130.6
non banking financial company with RBI. during the year. CSLFLs loan products include Growth and Profitability (%)
CSLFLs functions in two business segments loans for real estate, educational institutions
secured lending to SMEs and investing in and business loans; in the SME segment it is TI Growth (y-o-y) (52.4)
capital markets during mergers, demergers, focused in education, medical sectors and loans NP Growth (y-o-y) 63.5
buybacks and open offers. Since its inception a to small traders.
NPM 29.2
majority of CSLFLs business activities involved
(As on Mar 31, 2016)

Dewan Housing Finance Corporation Limited

Warden House, 2nd Floor, Sir P.M. Road, Fort, Mumbai 400001, Maharashtra
Website: www.dhfl.com

Business Profile loans, mortgage loans/loan against property, Dun & Bradstreet D-U-N-S No 67-586-8538
Dewan Housing Finance Corporation Ltd (DHFL) SME funding; and other products and services Financials (` mn)
was established in 1984 with the objective to including; insurance and asset management
Total Income 73,167.2
provide access to housing finance to lower services. It also provides various fixed deposit
and middle income population. DHFL offers a schemes. As per its annual report for FY16, its Net Profit 7,292.0
range of home related loans including; finance marketing and distribution network comprised Growth and Profitability (%)
for purchase of ready or under-construction of 182 branches, 146 service centres, 18 circles/
housing units, home renovation/ extension, clusters, two disbursement hubs and one TI Growth (y-o-y) 22.3
self-construction, purchase of plots and collection centre across the country. NP Growth (y-o-y) 17.4
composite loan for purchase of plot and self-
NPM 10.0
construction. Additionally, it also offers project
(As on Mar 31, 2016)

ECL Finance Limited

Edelweiss House, Off C.S.T Road, Kalina, Mumbai - 400098, Maharashtra
Website: www.edelweissfin.com

Business Profile product portfolio includes corporate loans, Dun & Bradstreet D-U-N-S No 85-907-3866
ECL Finance Ltd (ECL Finance), a subsidiary sponsor funding, collateralized loans against Financials (` mn)
of Edelweiss Financial Services Ltd, was liquid securities, ESOP financing, margin
Total Income 18,865.8
incorporated in July 2005 and commenced funding, IPO financing and loans against
business operations in Aug 2005. ECL Finance is property amongst others. Net Profit 2,500.6
registered with RBI as a systemically important Growth and Profitability (%)
non-deposit taking NBFC. ECL Finance is
primarily engaged in the business of corporate TI Growth (y-o-y) 52.0
and SME lending, providing finance to industrial NP Growth (y-o-y) 36.7
enterprises and individuals, and participating
NPM 13.3
in consortium finance with other lenders. Its
(As on Mar 31, 2016)

Edelweiss Finance & Investments Limited

Edelweiss House, Off. C.S.T. Road Kalina Mumbai Mumbai - 400098, Maharashtra
Website: www.edelweissfin.com

Business Profile advisory services while under the financial Dun & Bradstreet D-U-N-S No 86-031-2364
Edelweiss Finance & Investments Ltd (EFIL) is business the company offers wholesale financing Financials (` mn)
a subsidiary of Edelweiss Financial Services Ltd solutions. The company serves corporate, retail,
Total Income 3,246.0
which is involved in credit business, financial and institutional clients. In FY16, majority of the
markets and asset management, life insurance companys interest income is earned from the Net Profit 522.6
and commodities. The companys business is interest on debt instruments. Growth and Profitability (%)
segmented in to capital based business, agency
business and financing business. Under capital TI Growth (y-o-y) (17.8)
based business, the company offers treasury NP Growth (y-o-y) 3.0
services, derivatives and investment services.
NPM 16.1
Under the agency business the company offers
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

Edelweiss Financial Services Limited

Edelweiss House, Off CST Road, Kalina, Mumbai - 400098, Maharashtra
Website: www.edelweissfin.com

Business Profile portfolio includes; wealth management, asset Dun & Bradstreet D-U-N-S No 91-755-5781
Edelweiss Financial Services Ltd (Edelweiss management, capital markets and warehousing Financials (` mn)
Financial Services) was incorporated in 1995. services. It also offers life insurance through its
Total Income 3,383.4
The companys business verticals are broadly JV, Edelweiss Tokio Life. As per the company
divided into credit business, non-credit business annual report for FY16, its retail credit business Net Profit 1,555.9
and life insurance. The credit business includes had presence across 45 cities, 3400 villages Growth and Profitability (%)
wholesale and retail credit products comprising catering to more than three lac customers.
of; structured Collateralised Credit, real During the same period, its insurance business TI Growth (y-o-y) 36.3
estate finance, distressed assets credit, SME had 71 branches across 61 major cities. NP Growth (y-o-y) 39.6
Finance, agri finance, housing finance & loan
NPM 46.0
against property, LAS and others. Non-credit
(As on Mar 31, 2016)

Edelweiss Housing Finance Limited

Edelweiss House, Off. C.S.T. Road, Kalina, Mumbai - 400098, Maharashtra
Website: www.edelweisshousingfin.com

Business Profile loan against property to companies/individuals Dun & Bradstreet D-U-N-S No 85-987-9464
Edelweiss Housing Finance Ltd (EHFL) was to enable them raise funds up to a maximum of Financials (` mn)
incorporated on May 30, 2008 as the public 70% of the market value. The companys loan
Total Income 2,733.4
limited company and started commercial book has grown from ` 1,053.4 mn in FY11 to
operations in 2010. The company offers home ` 23,872.7 mn in FY16. Net Profit 382.1
loan solutions to its customers for construction, Growth and Profitability (%)
purchase, repair and renovation of dwelling
units. The company offers tailored solutions TI Growth (y-o-y) 52.0
depending on the customers repayment ability, NP Growth (y-o-y) 81.0
which is gauged through field investigation and
NPM 14.0
cash flow assessment. The company also offers
(As on Mar 31, 2016)

Edelweiss Retail Finance Limited

2A & 2B, Savitri Tower, 3A, Dr. Martin Luther King, Sarani, (Formerly Upper Wood Street), Kolkata - 700017, WB
Website: www.edelweissretailfin.com

Business Profile in the rural areas through their micro-finance Dun & Bradstreet D-U-N-S No 65-086-3843
Edelweiss Retail Finance Ltd (Edelweiss Retail) business operations. For the SME segment, Financials (` mn)
offers a range of housing finance and retail the company offers secured loans, equipment
Total Income 1,614.7
credit products which are designed to meet loans and business loans to address various
an array of financing needs. The company needs of SMEs such as working capital, business Net Profit 247.0
offers home loans, SMEs loans and loan against expansion, equipment purchase/refinance Growth and Profitability (%)
property. The various products offered by the among others.
company include housing loan, loan against TI Growth (y-o-y) 256.8
property, construction finance, lease rental NP Growth (y-o-y) 222.5
discounting, SME finance, equipment finance
NPM 15.3
amongst others. The company is also operates
(As on Mar 31, 2016)

Export-Import Bank of India

Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai - 400005, Maharashtra
Website: www.eximbankindia.in

Business Profile project exports, line of credit, corporate Dun & Bradstreet D-U-N-S No 65-007-8355
Export-Import Bank of India (Exim Bank) was banking products and buyers credit. It also Financials (` mn)
incorporated in 1982 to finance, facilitate and offers a range of services such as research &
Total Income 87,810.3
promote Indias international trade. Exim Bank analysis, and marketing advisory services. As
offers a wide range of products and services at per the annual report, the bank sanctioned Net Profit 4,533.2
all stages of business cycle; starting from import an aggregate amount of USD 2.19 bn for 22 Growth and Profitability (%)
of technology and export product development projects as on Mar 31, 2016. Its aggregate non-
to export production, export marketing, pre- funded portfolio, comprising of guarantees, TI Growth (y-o-y) 15.2
shipment and post-shipment and overseas letters of credit and standby letters of credit NP Growth (y-o-y) (60.1)
investment. Financial products offered by the grew by 7%.
NPM 5.2
bank include overseas investment finance,
(As on Mar 31, 2016)

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Indias Leading BFSI Companies 2017

Family Credit Limited

Technopolis, 7th Floor, A Wing, Plot No. 4, Block - BP, Sec-V, Salt Lake, Kolkata - 700091, WB
Website: www.familycreditindia.com

Business Profile portfolio includes two-wheeler financing, auto Dun & Bradstreet D-U-N-S No 67-588-5570
Family Credit Ltd (FCL) was incorporated in 1993 loans for new and used cars, corporate finance Financials (` mn)
as Apeejay Finance Group Ltd.; in 2007 Societe products and microfinance. During FY16 the
Total Income 7,782.2
Generale Consumer Finance, France, acquired companys new auto loan business reduced
the company and changed its name to FCL. In by almost 74% from ` 4010 mn to ` 1050 mn, Net Profit 874.0
December, 2012, L&T Finance Holding Ltd took while FCLs used auto loans increased by nearly Growth and Profitability (%)
over the company making FCL its wholly owned 63%. In the same period FCL had disbursed a
subsidiary. FCL is a non deposit taking non- total of ` 35.34 bn loans. TI Growth (y-o-y) 21.7
banking financial company which is engaged in NP Growth (y-o-y) 20.0
the business of vehicle and corporate lending
NPM 11.2
with operations across the country. FCLs product
(As on Mar 31, 2016)

Fullerton India Credit Company Limited

Megh Towers, Third Floor, New No. 165, Old No. 307, Poonamallee High Road, Maduravoyal, Chennai - 600095, TN
Website: www.fullertonindia.com

Business Profile capital loans for urban self-employed and loans Dun & Bradstreet D-U-N-S No 65-067-1568
Fullerton India Credit Company Ltd (Fullerton for rural livelihood advancement, rural housing Financials (` mn)
India), a wholly owned subsidiary of Fullerton finance and financing of various rural micro
Total Income 22,769.4
Financial Holdings Pte Ltd and a step down enterprises. As per the company, it operated a
subsidiary of Temasek Holdings Pte Ltd, wide spread network of 582 branches covering Net Profit 3,975.8
Singapore commenced commercial operations 600 towns and over 51,000 villages and catering Growth and Profitability (%)
in Jan 2007. The company is a financial services to more than 1.6 mn customers.
company engaged in offering working capital TI Growth (y-o-y) 32.4
loans for SMEs, loans for commercial vehicles NP Growth (y-o-y) 32.1
and two wheelers, home improvement loans,
NPM 17.5
loans against property, personal loans, working
(As on Mar 31, 2016)

GIC Housing Finance Limited

Royal Insurance Building, 6th floor, 14, Jamshedji Tata Road, Churchgate, Mumbai - 400020, Maharashtra
Website: www.gichfindia.com

Business Profile name in Nov 1993. It is mainly engaged in Dun & Bradstreet D-U-N-S No 91-533-8631
GIC Housing Finance Ltd (GICHFL) was offering housing finance to individuals and to Financials (` mn)
incorporated in the year 1989 as GIC Grih persons/entities engaged in construction of
Total Income 8,763.7
Vitta Ltd. It was promoted by the General houses/flats for residential purposes. As per
Insurance Corporation of India and its erstwhile the company annual report, new branches were Net Profit 1,245.0
subsidiaries namely: National Insurance established in UP, Chhattisgarh, AP, Maharashtra Growth and Profitability (%)
Company Ltd, The New India Assurance and Punjab, taking the total number of offices
Company Ltd, The Oriental Insurance Company to 60 during FY16. TI Growth (y-o-y) 19.6
Ltd and United India Insurance Company Ltd NP Growth (y-o-y) 20.9
along with others like: UTI, ICICI, IFCI, HDFC,
NPM 14.2
LIC and SBI. The company acquired its present
(As on Mar 31, 2016)

Gruh Finance Limited

GRUH, Netaji Marg, Near Mithakhali Six Roads, Ellisbridge, Ahmedabad - 380006, Gujarat
Website: www.gruh.com

Business Profile had a network of 180 offices in 10 states. GFL Dun & Bradstreet D-U-N-S No 91-843-9506
Gruh Finance Ltd (GFL) incorporated in 1986, is recognized by NHB for refinance facility; it Financials (` mn)
is a housing finance company which in 2000 accepts deposits from individuals, charitable
Total Income 12,754.0
became a subsidiary of its promoter company trusts and educational institutions and provides
HDFC Ltd. The Company is regulated by NHB loans against such deposits. GFL had till Sep, Net Profit 2,435.8
and provides housing loans, non residential 2016 cumulatively disbursed loans of ` 207.95 Growth and Profitability (%)
premises loans (NRP), repair and renovation bn which included ` 96.40 bn disbursements in
loans. Some of the loan products offered by GFL rural areas. TI Growth (y-o-y) 20.3
include GRUH Suraksha, GRUH Suvidha, GRUH NP Growth (y-o-y) 19.5
Sajavat and GRUH Samruddhi. GFL caters to the
NPM 19.1
retail housing loan segment and in Sep, 2016 it
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

HDB Financial Services Limited

Radhika, 2nd Floor, Law Garden Road, Navrangpura, Ahmedabad - 380009, Gujarat
Website: www.hdbfs.com

Business Profile selling life and general insurance products of Dun & Bradstreet D-U-N-S No 86-917-9640
HDB Financial Services Ltd (HDBFS), a subsidiary HDFC Standard Life Insurance Company Ltd and Financials (` mn)
of HDFC Bank, is a non-deposit taking NBFC. HDFC Ergo General Insurance Company Ltd.
Total Income 33,020.2
The company is engaged in offering loans and HDBFS also undertakes BPO services for HDFC
fee based products. Under loans, HDBFS offers bank and offers end to end collection services in Net Profit 5,344.1
a range of secured and unsecured loans for over 500 locations. As on Mar 31 2016, HDBFS Growth and Profitability (%)
residential & commercial property, automobiles, operated through 929 branches in 623 cities,
shares, car, marketable securities and gold a data centre at Bengaluru and centralised TI Growth (y-o-y) 30.7
jewellery amongst others. It also offers asset operations at Hyderabad and Chennai. NP Growth (y-o-y) 52.9
finance for commercial vehicle and construction
NPM 16.2
equipments. HDBFS is a corporate agent for
(As on Mar 31, 2016)

HDFC Investments Limited

Ramon House, 4th Floor,169 Backbay Reclamation, H T Parekh Marg, Mumbai - 400020, Maharashtra

Business Profile FY16, the company incorporated Griha Pte Ltd Dun & Bradstreet D-U-N-S No 91-659-2561
HDFC Investments Ltd (HIL) is a wholly as its wholly owned subsidiary in Singapore. Financials (` mn)
owned subsidiary of Housing Development
Total Income 1,546.9
Finance Corporation Ltd and is regarded as a
systemically important non-deposit taking non- Net Profit 1,501.6
banking financial company (NBFC ND SI). The Growth and Profitability (%)
company primarily invests in the equities market
and has investments in the fixed deposits and TI Growth (y-o-y) 41.6
bonds of Public Sector Undertakings (PSUs). NP Growth (y-o-y) 41.4
During FY16, the company invested an amount
NPM 97.1
of ` 149.9 mn in Feedback Infra Pvt Ltd. During
(As on Mar 31, 2016)

Hinduja Leyland Finance Limited

No. 27 A Developed Industrial Estate, Guindy, Chennai 600032, Tamilnadu
Website: www. hindujaleylandfinance.com

Business Profile including machines for road construction, Dun & Bradstreet D-U-N-S No 85-904-3401
Hinduja Leyland Finance Ltd (HLF) incorporated mining and infrastructure projects. HFL has over Financials (` mn)
in 2008 is a vehicle financing subsidiary of 1500 locations across all the states, including
Total Income 11,456.9
automobile manufacturer Ashok Leyland Ltd. Delhi NCR and two union territories. HFL filed
HFL is registered as a non-deposit taking non- a Draft Red Herring Prospectus with SEBI on Net Profit 1,500.2
banking financial company with the Reserve March 30, 2016 for raising additional capital Growth and Profitability (%)
Bank of India. It is engaged in the business of up to ` 5000 mn for augmenting its capital
providing loan for utility vehicles, tractors, cars requirements and partial offer for sale by its TI Growth (y-o-y) 40.7
and two-wheelers with focus on the semi-urban existing investors. NP Growth (y-o-y) 34.5
and rural sectors. HFL also provides loan against
NPM 13.1
property and construction equipment finance
(As on Mar 31, 2016)

Housing and Urban Development Corporation Limited

Hudco Bhawan, India, Habitat Center, Lodhi Road, New Delhi - 110003, Delhi
Website: www.hudco.org

Business Profile & renewals amongst others. Its infrastructure Dun & Bradstreet D-U-N-S No 65-005-8845
Housing and Urban Development Corporation loan portfolio includes water supply, sewerage, Financials (` mn)
Ltd (HUDCO), a Miniratna Category-I CPSE, solid waste management, drainage and social
Total Income 33,022.0
was incorporated in 1970 under the Ministry infrastructure. During FY16, the company
of Housing and Poverty Alleviation of GoI. sanctioned ` 307.8 bn as compared to ` 211 Net Profit 7,837.9
HUDCO is a techno-financial institution bn in FY15 whereas the amount released was ` Growth and Profitability (%)
engaged in the financing and promotion of 82.5 bn in FY16 against ` 81 bn in FY15.
housing and urban infrastructure projects TI Growth (y-o-y) (3.7)
throughout India. The company provides NP Growth (y-o-y) 0.8
housing loan for urban housing, staff housing,
NPM 23.7
land acquisition, community toilets, repairs
(As on Mar 31, 2016)

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Indias Leading BFSI Companies 2017

Housing Development Finance Corporation Limited

Ramon House, H.T. Parekh Marg, 169, Backbay Reclamation, Churchgate, Mumbai - 400020, Maharashtra
Website: www.hdfc.com

Business Profile housing loans, HDFC is engaged in lending Dun & Bradstreet D-U-N-S No 65-009-5540
Housing Development Finance Corporation Ltd to corporate, construction finance and lease Financials (` mn)
(HDFC) was incorporated in 1977 as a specialized rental discounting. HDFCs distribution network
Total Income 309,565.7
mortgage company and it is amongst the first consists of 401 interconnected offices which
Indian housing finance companies. HDFC include 116 offices of HDFC Sales and it has Net Profit 70,931.0
provides housing loans, home improvement three representative offices in Dubai, London Growth and Profitability (%)
and extension loans, short term bridging and Singapore. The company also distributes
loans and rural housing finance to individuals its loan products through HDFC Bank and third TI Growth (y-o-y) 12.7
and NRIs. It also provides non housing loans party direct selling associates. As on Sept, 2016 NP Growth (y-o-y) 18.4
including loan against property, top-up loans HDFCs outstanding loan book was ` 2,754 bn.
NPM 22.9
and non-resident premises loans. Besides
(As on Mar 31, 2016)

ICICI Home Finance Company Limited

ICICI Bank Towers, Bandra-Kurla Complex, Mumbai - 400051, Maharashtra
Website: www.icicihfc.com

Business Profile an intermediary and partner for both investors Dun & Bradstreet D-U-N-S No 91-845-2905
ICICI Home Finance Company Ltd (ICICI and developers. The company also acts as a Financials (` mn)
Home Finance), an ICICI Group company was corporate insurance agent for ICICI Prudential
Total Income 10,713.7
incorporated in May 1999. The company is Life Insurance Company Ltd. As per the company
engaged in providing housing finance. The annual report for FY16, its loan assets reached Net Profit 1,798.5
products and services offered by ICICI Home ` 87.2 bn, primarily driven by 13% growth in Growth and Profitability (%)
Finance include home loans, loan against retail mortgages business.
property, fixed deposit, retail property TI Growth (y-o-y) 8.5
services, corporate property services and NP Growth (y-o-y) (9.0)
construction finance. ICICI Home Finance also
NPM 16.8
has a structured finance group which acts as
(As on Mar 31, 2016)

ICICI Securities Primary Dealership Limited

ICICI Centre, H.T. Parekh Marg, Churchgate, Mumbai - 400020, Maharashtra
Website: www.icicisecuritiespd.com

Business Profile
ICICI Securities Primary Dealership Ltd (I-Sec
PD) is a wholly owned subsidiary company of
ICICI Bank Ltd which was incorporated in 1993.
The company operates in the fixed income and
money markets; it is engaged in institutional
sales and trading, resource mobilization,
research and trades in government securities,
swaps and corporate bonds markets. In the
debt capital market segment I-Sec PD offers
structured finance, resource mobilization
through private placement of debentures, Dun & Bradstreet D-U-N-S No 86-218-5501
securitization. The company caters to banks, Financials (` mn)
financial institutions, holding companies, public
Total Income 13,619.4
sector undertakings, NBFCs, HFCs, infrastructure
and state level undertakings .It also provides Net Profit 1,954.7
portfolio management services to provident, Growth and Profitability (%)
pension and gratuity funds and retirement funds
of public and private companies. During FY16, TI Growth (y-o-y) 1,048.0
it lowered its activity in the corporate bond NP Growth (y-o-y) 22,367.8
market and increased its activity in Government
NPM 14.4
securities and state development loans.
(As on Mar 31, 2016)

IDFC Limited
KRM Tower, 8th Floor, No. 1, Harrington Road, Chetpet, Chennai - 600031, TN

Business Profile license in July, 2015. Post demerger of its Dun & Bradstreet D-U-N-S No 67-740-3733
IDFC Ltd (IDFC) was established in 1997 and lending and financing business IDFC is registered Financials (` mn)
till Sept, 30, 2015 the company operated as with RBI as NBFC Investment Company (IC)
Total Income 2,258.8
an Infrastructure Finance Company, financing which holds investments in its subsidiary IDFC
infrastructure projects in sectors like energy, FHCL (Financial Holding Company Limited) a Net Profit (11,621.4)
telecommunication, transportation, commercial non-deposit taking NBFC. After restructuring Growth and Profitability (%)
and industrial projects. On Oct 1, 2015 IDFC IDFC FCHL holds IDFCs investments in IDFC
converted to a listed holding company and the Bank, IDFC Alternatives Limited, IDFC Asset TI Growth (y-o-y) 126.9
assets and liabilities of its financing business Management Company Limited, IDFC Securities NP Growth (y-o-y) (168.9)
was demerged and transferred to IDFC Bank; Limited and IDFC Infra Debt Fund Limited.
NPM (514.5)
formed after RBI granted a universal banking
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

IFCI Factors Limited

IFCI Tower, 10th Floor, 61 Nehru Place, New Delhi - 110019, Delhi
Website: www.ifcifactors.com

Business Profile collection of payments and advisory services. Dun & Bradstreet D-U-N-S No 65-066-3917
IFCI Factors Ltd (IFCI Factors), formerly known Under purchase bill factoring, the company Financials (` mn)
as Foremost Factors Ltd, is a subsidiary of IFCI offers instant cash for purchases. Under export
Total Income 909.2
Ltd. The company is a systemically important sales bill factoring, the company offers export
non-deposit taking NBFC Factor (NBFC-ND-SI- funding, credit assessment, credit protection Net Profit (436.7)
Factor). The various solutions offered by the and collection services. The company also offers Growth and Profitability (%)
company include domestic sales bill factoring, corporate loans/short term loans for general
purchase bill factoring, export sales bill purpose as well as for enabling the companies TI Growth (y-o-y) (13.9)
factoring and corporate loan. Under domestic to meet their working capital needs. NP Growth (y-o-y) (26.7)
sales bill factoring, the company offers instant
NPM (48.0)
prepayments, sales ledger administration,
(As on Mar 31, 2016)

IFCI Limited
IFCI Tower, 61 Nehru Place, New Delhi - 110019, Delhi
Website: www.ifciltd.com

Business Profile it is also a monitoring agency for public issues Dun & Bradstreet D-U-N-S No 65-012-5909
IFCI Ltd (IFCI) was established in 1948 as The and a debenture trustee. IFCI is the nodal Financials (` mn)
Industrial Finance Corporation of India; a agency of the Government of India for the
Total Income 40,066.4
statutory company formed by the Government Sugar Development Fund since its inception in
of India. In 1993 it was converted to a public 1986. In FY 15, IFCI was appointed the nodal Net Profit 3,374.5
company and in 1999 the companys name was agency for implementing governments credit Growth and Profitability (%)
changed to IFCI Limited. The core business of enhancement scheme for young and start-up
IFCI is of providing long term loans to industrial entrepreneurs, belonging to Scheduled Castes. TI Growth (y-o-y) 19.7
and infrastructure sectors through debt and NP Growth (y-o-y) (35.3)
equity products. Besides financing, IFCI offers
NPM 8.4
corporate and infrastructure advisory services,
(As on Mar 31, 2016)

IIFL Holdings Limited

IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, Thane Industrial Estate, Thane - 400604, Maharashtra
Website: www.indiainfoline.com

Business Profile banking, institutional equities, realty advisory Dun & Bradstreet D-U-N-S No 65-099-6569
IIFL Holdings Ltd (IIFL), an apex holding company services amongst others. Its services cater to Financials (` mn)
of the IIFL Group, was incorporated in 1995 as retail, HNIs, corporate and institutional clients.
Total Income 2,114.1
Probity Research and Services Pvt Ltd and later As per the company, it has established presence
re-christened as India Infoline Ltd. In Mar 2014, in more than 2,500 locations through a wide Net Profit 1,719.8
it acquired its present name pursuant to transfer spread network of over 1,000 branches across Growth and Profitability (%)
of financial services business to its wholly the country. It also has international presence
owned subsidiary. IIFL through its subsidiaries through subsidiaries in US, UK, Hong Kong, UAE, TI Growth (y-o-y) 92.1
offers a wide range of services including Switzerland, Singapore and Mauritius. NP Growth (y-o-y) 75.1
financing, wealth & asset management,
NPM 81.3
financial products distribution, investment
(As on Mar 31, 2016)

IL&FS Financial Services Limited

The IL&FS Financial Centre, Plot C 22, G Block, Bandra Kurla Complex, Bandra East, Mumbai - 400051, Maharashtra
Website: www. ilfsifin.com

Business Profile
IL&FS Financial Services Ltd (IFSL) a wholly
owned subsidiary of Infrastructure Leasing and
Financial Services Limited (IL&FS) is registered
as a non banking finance company with RBI.
The company is the investment-banking entity
of the IL&FS Group and provides project
finance advisory and syndication, financial
structuring and equity placements. Its product
portfolio includes asset and structured finance,
project debt syndication, corporate advisory,
project finance, and structured mezzanine Dun & Bradstreet D-U-N-S No 85-803-2110
credit facility. IFSLs subsidiary IL&FS Capital Financials (` mn)
Advisors Ltd is a merchant banker providing
Total Income 19,215.6
equity capital markets, advisory and placement
services. IL&FS Infra Asset Management Ltd is Net Profit 1,927.8
an asset management company promoted by Growth and Profitability (%)
IFSL to manage the IL&FS Infrastructure Debt
Fund. Besides India, IFSL is present through its TI Growth (y-o-y) 0.0
subsidiaries in Hong Kong, Singapore, London NP Growth (y-o-y) (22.7)
and Dubai offering financing solutions and
NPM 10.0
advisory services and infrastructure financing.
(As on Mar 31, 2016)

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Indias Leading BFSI Companies 2017

India Infoline Finance Limited

12A-10, 13th Floor, Parinee Crescenzo, G Block, C-38&39, Bandra Kurla Complex, Bandra- East Mumbai Mumbai - 400051, Maharashtra
Website: www.iiflfinance.com

Business Profile healthcare finance, and SME business loan. IIFL Dun & Bradstreet D-U-N-S No 65-086-1326
India Infoline Finance Ltd (IIFL) incorporated caters to It has a distribution network of over Financials (` mn)
in 2004 as India Infoline Investment Services one thousand branches across the country and
Total Income 22,073.4
Pvt Ltd converted to a public limited company has subsidiaries in US, UK, Singapore, Hong
in July, 2007. The company is a subsidiary Kong, Switzerland, Mauritius and UAE. As on mar Net Profit 2,717.3
of IIFL Holdings Ltd, registered with RBI as a 31, 2016 IIFLs total AUM was ` 195 bn including Growth and Profitability (%)
systemically important non deposit accepting ` 84 bn from the companys retail mortgage
non banking financial company. IIFL is engaged activities and ` 29 bn from gold loans. TI Growth (y-o-y) 1.4
in the business of providing home loans, loan NP Growth (y-o-y) 9.7
against property, loan against gold, commercial
NPM 12.3
vehicle finance, capital market finance,
(As on Mar 31, 2016)

India Infoline Housing Finance Limited

12A-10, 13th floor, Parinee Crescenzo, G Block C-38&39,Bandra Kurla Complex, Bandra- East Mumbai - 400051, Maharashtra
Website: www.iiflhomeloans.com

Business Profile use and acquiring new commercial property. Dun & Bradstreet D-U-N-S No 86-027-0910
India Infoline Housing Finance Ltd (IIHFL), The company operates through a network of Financials (` mn)
a wholly owned subsidiary of India Infoline over 55 branches across the country. As per the
Total Income 5,696.0
Finance Ltd, was incorporated in 2006. The annual report of the company, the loan book of
company is a NBFC registered with RBI and in the company reached ` 52,843 mn, registering Net Profit 720.6
2009, it got registered with NHB to carry out a growth of 168% on a y-o-y basis. Growth and Profitability (%)
housing finance business. Its offerings include
loans for buying new home, loans for home TI Growth (y-o-y) 140.7
construction and home improvement. It aso NP Growth (y-o-y) 34.7
offers loans against property to SMEs to help
NPM 12.7
meet working capital requirements, business
(As on Mar 31, 2016)

India Infoline Insurance Brokers Limited

IIFL House, Sun Infotech Park, Road No. 16V, Plot No B-23, MIDC, Thane Industrial Area, Wagle Estate, Thane - 400604, Maharashtra
Website: www.indiainfoline.com

Business Profile Religare Life Insurance Future Generali Life Dun & Bradstreet D-U-N-S No 86-024-1847
India Infoline Insurance Brokers Ltd (India Insurance and Exide Life Insurance amongst Financials (` mn)
Infoline Insurance Brokers), an insurance others. Till FY16, the company sold insurance
Total Income 571.7
broking company is a subsidiary of IIFL Holdings policies to more than 60,000 customers besides
Ltd. The company undertakes business of direct servicing the existing customers and renewal Net Profit (27.3)
insurance broking and other related activities. business. Growth and Profitability (%)
India Infoline Insurance Brokers distributes wide
bouquet of products from several insurance TI Growth (y-o-y) (5.5)
companies including ICICI Prudential Life NP Growth (y-o-y) (133.3)
Insurance, Reliance Life Insurance, HDFC Life
NPM (4.8)
Insurance, Bharti AXA Life Insurance, AEGON
(As on Mar 31, 2016)

India Infrastructure Finance Company Limited

8th Floor, Hindustan Times House, 18 & 20 Kasturba Gandhi Marg, New Delhi - 110001, Delhi
Website: www.iifcl.co.in

Business Profile and subordinate debt for greenfield projects. It Dun & Bradstreet D-U-N-S No 65-053-5391
India Infrastructure Finance Company Ltd (IIFCL) also offers refinance, takeout finance and credit Financials (` mn)
was established in 2006 as a wholly owned enhancement schemes catering to brownfield
Total Income 46,594.5
GoI company. It is registered as a non-deposit projects. As per the company annual report,
taking NBFC with RBI since Sep 2013. It was cumulative disbursements at the end of Mar Net Profit 4,685.0
formed to provide long-term finance to viable 2016 stood at ` 488.3 bn. During the same Growth and Profitability (%)
infrastructure projects through its schemes. period, it made incremental gross sanctions
IIFCL caters to sectors such as transportation, for 40 projects under direct lending and seven TI Growth (y-o-y) 14.7
energy, water, sanitation, communication, social under its takeout finance scheme. NP Growth (y-o-y) (37.8)
and commercial infrastructure. IIFCL offers
NPM 10.1
direct lending, under which it offers senior debt
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

Indiabulls Commercial Credit Limited

M - 62 & 63 First Floor, Connaught Place New Delhi Central Delhi - 110001

Business Profile related activities, which include investing in Dun & Bradstreet D-U-N-S No 86-031-2366
Indiabulls Commercial Credit Ltd (ICCL), various subsidiaries, financing of loans and Financials (` mn)
formerly known as Indiabulls Infrastructure credit activities and fee based income activities,
Total Income 3,838.5
Credit Limited, was incorporated on July 07, which mainly comprise of financial services
2006 and is the wholly owned subsidiary of related fee income, commission on insurance Net Profit 505.5
Indiabulls Housing Finance Ltd. The company and other fee based activities. Growth and Profitability (%)
is engaged in the business of financing,
investment and allied activities. The company TI Growth (y-o-y) 102.4
is the non-deposit taking non-banking financial NP Growth (y-o-y) 92.0
company. The companys primary business
NPM 13.2
activities comprise of investing and financing
(As on Mar 31, 2016)

Indiabulls Housing Finance Limited

M-62 & 63, First Floor, Connaught Place, New Delhi - 110001, Delhi
Website: www.indiabullshomeloans.com

Business Profile branches spread across more than 110 towns Dun & Bradstreet D-U-N-S No 65-083-2970
Indiabulls Housing Finance Ltd (IBHFL), a part and cities. It also operates overseas offices in Financials (` mn)
of the Indiabulls Group, was incorporated in Dubai and London to cater to the NRIs. As per
Total Income 88,419.2
May 2005. It is a housing finance company the annual report for FY16, the AUM of the
under the regulation of NHB, offering variety of company stood at ` 686.8 bn, growing by more Net Profit 22,941.2
home loan products including home loans for than 30% over previous year. During the same Growth and Profitability (%)
purchase of flat/row house/bungalow, purchase period, it had 11 subsidiaries and four stepdown
of residential plot, renovation of residential subsidiaries. TI Growth (y-o-y) 23.8
property and extension of residential property. NP Growth (y-o-y) 16.0
IBHFL also offers home loans for NRIs and loan
NPM 25.9
against property. Its network includes over 220
(As on Mar 31, 2016)

Indian Clearing Corporation Limited

25th Floor, P.J. Towers, Dalal Street, Mumbai - 400001, Maharashtra
Website: www.icclindia.com

Business Profile Securities lending & Borrowing program. As per Dun & Bradstreet D-U-N-S No 86-016-5741
Indian Clearing Corporation Ltd (ICCL), a wholly the company annual report for FY16, ICCL and Financials (` mn)
owned subsidiary of BSE, was incorporated in the Luxembourg-based international central
Total Income 696.0
2007. ICCL is engaged in clearing, settlement, securities depository Clearstream have agreed
collateral management and risk management for to collaborate on triparty margin collateral Net Profit 482.9
various segments of BSE. Some of the products management. During the same period, total Growth and Profitability (%)
cleared and settled by ICCL include; exchange clearing members with ICCL operating in
traded products such as equities, derivatives, different segments of BSE stood at 1606. TI Growth (y-o-y) (23.0)
currency derivatives, interest rate derivatives, NP Growth (y-o-y) (23.9)
debt; over the counter products; and mutual
NPM 69.4
funds. It is also authorized by SEBI to run a
(As on Mar 31, 2016)

Indian Railway Finance Corporation Limited

UG - Floor, East Tower, NBCC Place, Bhisham Pitamah Marg, Pragati Vihar, Lodi Road, New Delhi - 110003, Delhi
Website: www.irfc.nic.in

Business Profile catering to other developmental needs of the Dun & Bradstreet D-U-N-S No 91-850-5087
Indian Railway Finance Corporation Ltd (IRFC), Indian Railways. As per the FY16 annual report, Financials (` mn)
a financing arm of the Ministry of Railway was IRFC funded the acquisition of 592 locomotives,
Total Income 75,073.0
incorporated in 1986 to raise money from the 2,667 passenger coaches, and 9,756 freight
market to part finance the plan outlay of Indian wagons valued at ` 140 bn. IRFC also offered Net Profit 8,486.9
Railways. IRFC has been registered as a non- funding support to other railway entities such Growth and Profitability (%)
deposit taking NBFC with RBI. IRFC raises funds as Rail Vikas Nigam Ltd and Railtel Corporation
through issue of taxable and tax-free bonds, to the extent of ` 35.7 bn. TI Growth (y-o-y) 8.2
term loans from banks and financial institutions NP Growth (y-o-y) 11.9
and through offshore borrowings. IRFCs funding
NPM 11.3
is used for acquisition of rolling stock assets and
(As on Mar 31, 2016)

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Indias Leading BFSI Companies 2017

Indian Renewable Energy Development Agency Limited

India Habitat Centre, East Court, Core 4 A, 1st Floor, Lodhi Road, New Delhi - 110003, Delhi
Website: www.ireda.gov.in

Business Profile solar energy, and bio energy among others. As Dun & Bradstreet D-U-N-S No 65-064-7332
Indian Renewable Energy Development Agency per the FY16 annual report, IREDA sanctioned Financials (` mn)
Ltd (IREDA) is a GoI enterprise established highest ever loans worth ` 78.06 bn, showing
Total Income 11,745.4
in 1987, under the administrative control of growth of nearly 72%. These sanctions are
Ministry of New and Renewable Energy. It has expected to support capacity addition of nearly Net Profit 2,980.4
been notified as a public financial institution and 2246.27 MW. Further, it introduced Loan Growth and Profitability (%)
registered as a NBFC with RBI. In 2015, it was Scheme for Rooftop Solar PV Power Projects
conferred with the Mini Ratna Category-I status and Bill Discounting facility in FY16. TI Growth (y-o-y) 5.0
by GoI. IREDA provides financial assistance to NP Growth (y-o-y) 9.6
projects related to new and renewable energy
NPM 25.4
sources including hydro power, wind power,
(As on Mar 31, 2016)

Indostar Capital Finance Limited

One Indiabulls Center, 17th Floor, Tower 2A, Jupiter Mills Compound, S.B. Marg, Mumbai 400013, Maharashtra
Website: www.indostarcapital.com

Business Profile markets. It offers loan against property to SME Dun & Bradstreet D-U-N-S No 65-061-8866
Indostar Capital Finance Ltd (IndoStar) sector and has financed projects in real estate, Financials (` mn)
established in 2011 is registered with the RBI as cement, power, media, entertainment, dairy,
Total Income 6,413.8
a systemically important non-deposit accepting financial services and infrastructure. Indostar
non-banking financial company. Indostar is is sponsored by global financial institutions and Net Profit 1,910.2
engaged in providing structured term finance private equity companies including Everstone Growth and Profitability (%)
to companies and loan against property to SME Capital and Goldman Sachs, among others. The
sector. Under corporate lending Indostar offers company manages a credit fund of ` 2030 mn TI Growth (y-o-y) 21.5
secured corporate lending, real estate financing, through its subsidiary, IndoStar Asset Advisory NP Growth (y-o-y) 28.1
capital market financing, special situation Private Ltd. Indostars loan book as on Mar 31,
NPM 29.8
and acquisition financing and debt capital 2016 was ` 42650 mn.
(As on Mar 31, 2016)

Intec Capital Limited

701-704, Manjusha Building, 57 Nehru Place, New Delhi - 110019, Delhi
Website: www.inteccapital.com

Business Profile loans and SIDBI subsidy. As on Mar 31 2016, Dun & Bradstreet D-U-N-S No 91-846-2177
Intec Capital Ltd (Intec Capital), incorporated in overall discbursements of the company stood Financials (` mn)
1994 is a systemically important non-deposit at ` 3.6 bn; while AUM stood at ` 9.2 bn. Its
Total Income 1,317.3
taking NBFC. In Apr 2014, the company has been branch network is spread across major locations
registered as an asset finance company. Intec such as Delhi Ghaziabad, Gurgaon, Faridabad, Net Profit 64.3
Capital is primarily engaged in the business of Noida, Chandigarh, Ludhiana, Jaipur, Jodhpur Growth and Profitability (%)
providing machinery loans to SMEs in industries and Udaipur among others.
like auto engineering, printing & packaging, TI Growth (y-o-y) (0.6)
plastic & injection molding, pharmaceuticals, NP Growth (y-o-y) -
food processing and medical & healthcare.
NPM 4.9
Intec Capitals product portfolio includes term
(As on Mar 31, 2016)

JM Financial Credit Solutions Limited

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi MUMBAI Mumbai Maharashtra 400025

Business Profile issue of commercial papers. A large part of Dun & Bradstreet D-U-N-S No 86-031-2371
JM Financial Credit Solutions Ltd (JMFCSL), the companys lending portfolio comprises of Financials (` mn)
formerly known as FICS Consultancy lending for real estate activities and capital
Total Income 5,194.5
Services Limited was incorporated in 1980 market activities such as promoter funding. As
as the subsidiary of JM Financial Limited. The of March 31, 2016, the companys loan portfolio Net Profit 1,975.4
company acquired its current name in March stood at ` 40.7 bn. Growth and Profitability (%)
2015. The company is a systemically important
non-deposit taking non-banking financial TI Growth (y-o-y) 400.8
company (NBFC ND SI) and does not have NP Growth (y-o-y) 304.8
access to public deposits. A major portion of
NPM 38.0
the companys funding was met through the
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

JM Financial Limited
7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400025, Maharashtra
Website: www.jmfl.com

Business Profile offered by JM Financial are catered to significant Dun & Bradstreet D-U-N-S No 87-224-5861
JM Financial Ltd (JM Financial), a part of JM clientele that includes corporations, financial Financials (` mn)
Financial Group, is a core investment company. institutions, and retail investors. As on Mar 31,
Total Income 1,577.7
The company along with its subsidiaries offers 2016 the company had 16 subsidiaries and two
wide range of products and services in terms of associate companies. It has also established Net Profit 1,122.5
investment banking, institutional equity sales, international presence through subsidiaries/ Growth and Profitability (%)
trading, research and broking, private and step down subsidiaries in Mauritius, Singapore
corporate wealth management, equity broking, and USA. During the same period, fund-based TI Growth (y-o-y) 50.9
portfolio management, asset management, activities of the company accounted for 64% of NP Growth (y-o-y) 43.7
commodity broking, NBFC activities, private its total revenue.
NPM 71.1
equity and asset reconstruction. The services
(As on Mar 31, 2016)

Karnataka State Financial Corporation

KSFC Bhavan, 1/1 Thimmaiah Road, Bengaluru - 560052, Karnataka
Website: www.ksfc.in

Business Profile
Karnataka State Financial Corporation (KSFC)
was incorporated in March 1959 under the State
Financial Corporations Act, 1951 for providing
financial support to activities promoting and
developing industrial growth in Karnataka. KSFC
provides life and non-life insurance services,
UTI Mutual Fund investments, and it is also
a monitoring agency under SEBI guidelines.
It facilitates infrastructure development by
providing land, finance and entering public
private participation agreements. KSFCs Dun & Bradstreet D-U-N-S No 86-219-9705
other products include offering interest Financials (` mn)
subsidy for constructing ware houses and cold
Total Income 3,111.7
storage, for first generation entrepreneurs, for
entrepreneurs from scheduled tribe and castes Net Profit 321.3
and women entrepreneurs. It provides term Growth and Profitability (%)
loans for infrastructure projects in healthcare,
tourism, entertainment, and construction TI Growth (y-o-y) (45.3)
activities. KSFC has cumulatively assisted NP Growth (y-o-y) (27.7)
112,217 MSEs by providing finance amounting
NPM 10.3
to ` 82.68 bn till Mar 31, 16.
(As on Mar 31, 2016)

Kotak Mahindra Investments Limited

27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai- 400051, Maharashtra
Website: www.kmil.co.in

Business Profile also provides financial solutions to real estate Dun & Bradstreet D-U-N-S No 65-075-8019
Kotak Mahindra Investments Ltd (KMIL), a wholly sector and structured finance catering to mid- Financials (` mn)
owned subsidiary of the Kotak Mahindra Bank market and large corporate customers. Under
Total Income 6,037.1
Ltd, was incorporated in 1988. The company is corporate real estate, it offers construction
engaged in lending against securities, lending finance, structured finance solutions, lease Net Profit 1,539.0
to real estate sector and corporates, structured rental discounting, corporate advisory services, Growth and Profitability (%)
financing apart from holding certain strategic investment banking and transaction banking
Investments. In addition to shares, the company solutions among others. As per the company TI Growth (y-o-y) 54.5
provides finance against mutual funds, bonds, annual report for the year ending Mar 31 2016, NP Growth (y-o-y) 44.7
ETFs, fixed maturity plans and other listed ARAR of the company stood at 18.2%.
NPM 25.5
capital market instruments. The company
(As on Mar 31, 2016)

Kotak Mahindra Prime Limited

27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400051, Maharashtra
Website: www.carloan.kotak.com

Business Profile with car manufacturers in India and it provides Dun & Bradstreet D-U-N-S No 65-086-1359
Kotak Mahindra Prime Ltd (KMPL) was inventory and infrastructure funding to car Financials (` mn)
incorporated in 1996 as Kotak Mahindra Primus dealers. For retail customers, KMPL provides
Total Income 27,615.6
Limited, a joint venture between Kotak Mahindra loans for passenger, pre-owned cars and multi
Bank Ltd and Ford Credit International Inc., utility vehicles. Besides car finance, KMPL Net Profit 5,023.1
USA. In 2005, it was converted to a subsidiary offers loans against securities, developer, Growth and Profitability (%)
of Kotak Mahindra Bank Ltd and its name was corporate and personal loans, securitization
changed to the present KMPL. The company and assignment transactions and buying NPAs. TI Growth (y-o-y) 4.6
provides financing and support services to KMPL has a retail distribution network of 79 NP Growth (y-o-y) (1.0)
automotive manufacturers, dealers and retail branches in 18 states of the country.
NPM 18.2
customers. KMPL has financing partnerships
(As on Mar 31, 2016)

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Indias Leading BFSI Companies 2017

L&T Finance Limited

L&T Houses, Ballard Estate, Mumbai - 400001, Maharashtra
Website: www.ltfinance.com

Business Profile addition to home loans, LTF also offers home Dun & Bradstreet D-U-N-S No 91-614-7379
L&T Finance Ltd (LTF), a subsidiary of L&T Finance extension loans, home improvement loans, Financials (` mn)
Holdings, was incorporated as a NBFC in Nov loan against property, top-up loan, construction
Total Income 23,519.9
1994. LTF provides various financial products funding and balance transfer among others.
and services for trade, industry and agriculture. As per the annual report of the company, the Net Profit 2,072.2
The companys focus segments include; gross portfolio assets of the company stood at Growth and Profitability (%)
corporate products, construction equipment, ` 141.3 bn.
commercial vehicles and tractors. Its product TI Growth (y-o-y) (1.9)
portfolio include home loan, personal vehicle NP Growth (y-o-y) (18.9)
loan, commercial vehicle loan, business and
NPM 8.8
corporate loan, rural loan and microfinance. In
(As on Mar 31, 2016)

L&T FinCorp Limited

L&T House, N.M. Marg, Ballard Estate, Mumbai - 400001, Maharashtra
Website: www.ltfincorp.com

Business Profile against shares. Its product portfolio includes; Dun & Bradstreet D-U-N-S No 91-787-3168
L&T FinCorp Ltd (L&T FinCorp), erstwhile India short term loans, long term working capital, Financials (` mn)
Infrastructure Developers Ltd was incorporated ICDs, long term loans, and structuring and
Total Income 7,869.1
in 1997. The company is a wholly-owned providing tailor made solutions. It caters to
subsidiary of L&T Finance Holdings and is a large corporates as well as SMEs. As per the Net Profit 1,833.7
systemically important non - deposit taking company annual report for FY16, the companys Growth and Profitability (%)
NBFC. It operates in the business of fund gross portfolio assets stood at ` 68.2 bn; with a
based as well as fee based financing activity. substantial growth achieved in fee income. TI Growth (y-o-y) 37.2
Its business model comprises of non-asset NP Growth (y-o-y) 81.7
backed projects and corporate loan products,
NPM 23.3
in addition to supply chain finance and loan
(As on Mar 31, 2016)

L&T Housing Finance Limited

L&T House, Narottam Morarji Marg, Ballard Estate, Mumbai - 400001, Maharashtra
Website: www.lthousingfinance.com

Business Profile home loans, home improvement loans, loan Dun & Bradstreet D-U-N-S No 86-031-2374
L&T Housing Finance Ltd (LTHF) was established against property, balance transfer, and top-up Financials (` mn)
as Weizmann Homes Ltd in 1994 which was loans to salaried and self-employed individuals.
Total Income 6,587.5
changed to AIG Housing Finance Ltd in 2007 It also provides construction finance to real
and Indo Pacific Housing Finance Ltd in 2008. estate developers and builders. During FY16 Net Profit 580.4
In 2012, L&T Finance Holdings Ltd acquired LTHF disbursed ` 42.7 bn loans comprising of Growth and Profitability (%)
and renamed the company to its present retail loans to individuals and construction
name. LTHF is a wholly owned subsidiary of finance to builders. Its revenue increased from TI Growth (y-o-y) 82.0
L&T Finance Holdings Ltd registered with the ` 3.57 bn in FY15 to ` 6.58 bn in FY16. NP Growth (y-o-y) 65.3
National Housing Bank as a housing finance
NPM 8.8
company. LTFHs housing loan products include
(As on Mar 31, 2016)

L&T Infra Debt Fund Limited

Plot No. 177, CTS No. 6970, 6971,Vidyanagari Marg, CST Road, Kalina, Santacruz (East) Mumbai Mumbai - 400098, Maharashtra
Website: www.ltidf.com

Business Profile lower cost refinance, elongated tenures and Dun & Bradstreet D-U-N-S No 86-031-2376
L&T Infra Debt Fund Ltd (L&T IDF) is an structured repayment/redemption schedules Financials (` mn)
infrastructure debt fund incorporated in Mar, which match with the cash flow of the
Total Income 1,140.7
2013 and commenced its business operations infrastructure projects. The company also offers
in Nov, 2013 as Infrastructure Debt Fund Non- contractual and financial structuring to enable Net Profit 392.9
banking Financial Company (IDF-NBFC). The credit enhancement to improve viability and Growth and Profitability (%)
company offers refinancing solutions to the credit rating of the infrastructure projects.
infrastructure companies whose infrastructure TI Growth (y-o-y) 99.5
projects have completed atleast 1 year of NP Growth (y-o-y) 30.8
satisfactory operations. The various refinancing
NPM 34.4
solutions offered by the company include
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

L&T Infrastructure Finance Company Limited

Mount Poonamallee Road, Manapakkam, Chennai - 600089, TN
Website: www.ltinfra.com

Business Profile during the FY16 were in renewable energy, Dun & Bradstreet D-U-N-S No 67-738-3032
L&T Infrastructure Finance Company Ltd (L&T road and transmission projects. Broadly, L&T Financials (` mn)
Infra) incorporated in 2006 as a subsidiary of Infras business is divided into Project Finance
Total Income 24,361.5
L&T Holdings is a RBI-registered Infrastructure Group which provides structured and corporate
Finance Company (NBFCIFC). In 2011, L&T Infra finance; Debt Capital Market (DCM) Group Net Profit 2,400.4
was notified as a Public Finance Institution by and Financial Advisory Services Group which Growth and Profitability (%)
the government for providing term finance to includes Debt and Equity Advisory services.
develop the countrys infrastructure sector. The Additionally L&T Infra provides financing TI Growth (y-o-y) 15.1
companys key sectors include renewable energy, solutions to greenfield projects and refinancing NP Growth (y-o-y) 6.5
refinancing of transmission and road sector solutions to operational infrastructure projects.
NPM 9.9
projects, with almost 80% of loan disbursements
(As on Mar 31, 2016)

LIC Housing Finance Limited

Bombay Life Building, 2nd Floor, 45/47, Veer Nariman Road, Mumbai 400001, Maharashtra
Website: www.lichousing.com

Business Profile construction and development. As on Mar 31, Dun & Bradstreet D-U-N-S No 65-071-6657
LIC Housing Finance Ltd (LHFL) was incorporated 2016 LCHL functions through seven regional Financials (` mn)
in 1989 as housing finance company, promoted offices, 17 back offices which conduct credit
Total Income 124,854.6
by LIC of India; in 1994 it was converted into a appraisal and administrative functions. It has
public limited company. The company provides 234 marketing offices across India and has Net Profit 16,607.9
long term finance to individuals for purchase appointed nearly 13,668 intermediaries. It Growth and Profitability (%)
or construction and repair, renovation of also has Representative Offices in Dubai and
residential properties. LCHL also provides Kuwait which cater to NRIs in the GCC countries TI Growth (y-o-y) 15.6
finance for business requirements including including Bahrain, Dubai, Kuwait, Qatar and NP Growth (y-o-y) 19.8
loans to professionals for office premises and Saudi Arabia.
NPM 13.3
equipments and entities involved in real estate
(As on Mar 31, 2016)

LKP Finance Limited

203, Embassy Centre, Nariman Point, Mumbai - 400021, Maharashtra
Website: www.lkpsec.com

Business Profile mutual fund distribution, IPO distribution, and Dun & Bradstreet D-U-N-S No 65-018-5580
LKP Finance Ltd (LKPF) incorporated in 1984 is life insurance distribution. The company has Financials (` mn)
registered as a non banking financial institution three subsidiaries viz. LKP Securities Ltd, LKP
Total Income 583.4
with RBI. LKPF provides investment and other Wealth Advisory Pvt. Ltd and Gayatri Cement
financial services; it is also a broking house. & Chemical Industries Pvt Ltd. LKP Securities Net Profit (14.3)
The companys services include equity broking Ltd. is present in more than 2500 outlets in 200 Growth and Profitability (%)
in cash and derivatives, internet-based trading, cities and 25 regional offices in India. LKPF is
demat services, research, debt and money empanelled with domestic financial institutions TI Growth (y-o-y) (1.9)
market broking, merchant banking, currency, including non life & life insurance, mutual NP Growth (y-o-y) (993.8)
loan against shares and margin funding, funds, foreign financial institutions, corporate,
NPM (2.5)
merger and acquisition, commodity trading, HNIs and retail clients.
(As on Mar 31, 2016)

Magma Fincorp Limited

Magma House, 24, Park Street, Kolkata - 700016, WB
Website: www.magma.co.in

Business Profile Holding AG, Germany. Later during FY13 MFL Dun & Bradstreet D-U-N-S No 65-048-5329
Magma Fincorp Ltd (MFL) incorporated in 1978 acquired the mortgage business of GE India Financials (` mn)
is a non banking finance company engaged and entered the housing finance sector. The
Total Income 21,391.6
in asset financing business. MFL offers loan company is focused on catering to rural and
products for car and utility vehicles, commercial semi-urban segment including farmers and self Net Profit 1,871.5
vehicles, construction equipment, tractors, used employed non professionals. As on Sept 30, 2016 Growth and Profitability (%)
vehicles and SMEs. Car and utility comprise the MFL was present in 2900 locations and 1900
maximum, almost 25% of MFLs loan book. talukas with 268 branches across the country. TI Growth (y-o-y) 4.6
Besides financing, the company forayed in the During FY16 MFLs total loan disbursement was NP Growth (y-o-y) 25.5
general insurance business in 2009 through a ` 718.03 mn.
NPM 8.7
joint venture with HDI-Gerling International
(As on Mar 31, 2016)

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Indias Leading BFSI Companies 2017

Magma Housing Finance

8, Sant Nagar, East of Kailash, New Delhi - 110065, Delhi
Website: www.magmahfc.co.in

Business Profile loan, plot loan, loan against property and loan Dun & Bradstreet D-U-N-S No 87-181-3907
Magma Housing Finance (Magma Housing), for purchase of commercial property. As per Financials (` mn)
the housing finance arm of Magma Group, the annual report of FY16, Magma Housing
Total Income 2,424.2
was incorporated in the year 2004. In the same operated from 87 offices spread across the
year, the company was registered as GE Money country. During the same period, the companys Net Profit 228.1
Housing Finance, a non-deposit taking HFC with loan book grew nearly by 9% to reach ` 17.9 Growth and Profitability (%)
NHB. The company was acquired by Magma bn.
Group from GE Group in 2013. Presently, TI Growth (y-o-y) 26.2
Magma Housing is a step-down subsidiary of NP Growth (y-o-y) 115.2
Magma Fincorp Ltd. The company offers a wide
NPM 9.4
array of loan offerings encompassing home
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Profit
Growth and Profitability (%)
TI Growth (y-o-y)
NP Growth (y-o-y)
NPM
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Profit
Growth and Profitability (%)
TI Growth (y-o-y)
NP Growth (y-o-y)
NPM
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Profit
Growth and Profitability (%)
TI Growth (y-o-y)
NP Growth (y-o-y)
NPM
(As on Mar 31, 2016)

64

Mahindra & Mahindra Financial Services
Limited
About the Company
Mahindra & Mahindra Financial Services
Ltd (MMFSL) , a subsidiary of Mahindra &
Mahindra Ltd - is a non-banking financial
company (NBFC) primarily catering to the
financial needs of rural and semi-urban
markets. The company was incorporated
in 1991 as Maxi Motors Financial Services
Ltd and acquired its present name in
1992.
Mr. Ramesh Iyer Mahindra Finance has a pan-India
Vice-Chairman & Managing Director presence covering over 2,80,000 villages
across 27 states and 4 union territories in
Dun & Bradstreet D-U-N-S No 91-940-3308 India through 1,181 offices as of Dec 31
2016 with over 4.5 mn customers.
Financials (` mn)
Total Income 59,051.0 Business Operations
The company is mainly engaged in the
Net Profit 6,726.0
business of financing purchase of new
Growth and Profitability (%) and pre-owned auto and utility vehicles,
tractors, cars, commercial vehicles and
TI Growth (y-o-y) 5.7 construction equipments. Mahindra
Finance also provides personal loans to its
NP Growth (y-o-y) (19.1)
existing customers for their various needs.
NPM 11.4 The company started SME financing in 2011
in the areas of project finance, equipment
(As on Mar 31, 2016)
finance and working capital finance.
It also provides investment advisory
Management Details
services to assist customers in investing
Chairman money through mutual fund schemes
Mr. Dhananjay Mungale
after analysing their financial needs based
Vice-Chairman & Managing Director on their earning capacity and current
Mr. Ramesh Iyer
investment patterns. The company also
Executive Director & CFO provides fixed deposit product schemes
Mr. V. Ravi offering competitive interest rates and low
Directors risk investment.
Mr. M. G. Bhide
Mr. Piyush Mankad
In FY16, the company crossed 4 mn
Mr. C.B. Bhave
Ms. Rama Bijapurkar
cumulative customer contracts since its
Mr. V.S. Parthasarathy inception. The companys overall AUM
Dr. Anish Shah registered a y-o-y growth of around 11%
and stood at ` 409.33 bn as on 31 Mar
2016.
Registered Address and Website
Gateway Building
Apollo Bunder
Mumbai - 400001
Maharashtra
Website
www.mahindrafinance.com
Advertorial 65
Indias Leading BFSI Companies 2017
Subsidiaries and JVs
As on March 31, 2016, Mahindra Finance
had 3 subsidiaries namely Mahindra
Insurance Brokers Ltd (MIBL), Mahindra
Rural Housing Finance Ltd (MRHFL) and
Mahindra Asset Management Company
Pvt Ltd (MAMCPL).
MRHFL offers housing finance facility
by providing loans for construction,
purchase, renovation, and improvement
in rural and semi-urban segments. MIBL
provides insurance solutions by offering
various products for life as well as non-life
insurance segments to retail customers
and corporations. MAMCPL is engaged as
an investment manager to the Mahindra
Mutual Fund, which provides mutual
fund products to rural and semi-urban
customers.
The company entered into a JV with
Rabobank Group to form the subsidiary
Mahindra Finance USA LLC, which provides
wholesale inventory financing to US
based dealers, finance dealer purchases
of Mahindra products and provides retail
financing to end-user customers to finance
their lease or purchase of Mahindra
products or used products from dealers
in US.
CSR & Skill Development
MMFSLs core CSR activities include
scholarship to meritorious students from
economically disadvantaged families in
rural India, education for underprivileged
girls, vocational training on financial skills
for rural youth, drivers training program
for women, financial literacy among
school children, donation of ambulance
and healthcare equipment to hospitals in
rural areas, tree plantation and Swachh
Bharat Abhiyan.
Indias Leading BFSI Companies 2017

Mahindra Rural Housing Finance Limited

2nd Floor, Sadhana House, Behind Mahindra Towers, 570, P.B. Marg, Worli, Mumbai - 400018, Maharashtra
Website: www.mahindrahomefinance.com

Business Profile operations are spread across the states of Dun & Bradstreet D-U-N-S No 86-031-2377
Mahindra Rural Housing Finance Ltd (MRHFL), a Maharashtra, Gujarat, Rajasthan, TN, AP, Financials (` mn)
subsidiary of Mahindra and Mahindra Financial Kerala, Karnataka, MP, UP and Bihar. As per the
Total Income 4,954.5
Services Ltd, was established in 2007. The annual report for FY16, the company disbursed
company offers home loan products catering loans to about 125,000 households achieving Net Profit 626.8
specifically to rural areas. The company offers more than 50% growth in aggregate disbursals Growth and Profitability (%)
home completion loans for construction of that reached ` 15.5 bn. As on Mar 31 2016,
dwelling units, purchase of dwelling units, outstanding loan portfolio of MRHFL stood at TI Growth (y-o-y) 50.8
improvement/ renovation of existing dwelling ` 32.6 bn. NP Growth (y-o-y) 41.9
units, extension of existing dwelling units
NPM 12.7
and joint liability group loan. The companys
(As on Mar 31, 2016)

Manappuram Finance Limited

V/104 (Old), W/638 (New), Manappuram House, Valapad P.O., Thrissur - 680567, Kerala
Website: www.manappuram.com

Business Profile Microfinance Pvt. Ltd. in Feb, 2015. MFLs Dun & Bradstreet D-U-N-S No 91-847-9457
Manappuram Finance Ltd (MFL) established subsidiary Manappuram Home Finance Pvt. Financials (` mn)
in 1992 is a gold loan providing non banking Ltd. provides house loans to affordable housing
Total Income 22,174.7
financial company. MFL s core business activity sector including tier-2, tier-3 and near major
comprises of providing loan against deposit cities. MFL provides commercial vehicles loans Net Profit 3,372.4
of gold based jewellery and coins. Since FY15 to the under-served, un-banked category in the Growth and Profitability (%)
the company expanded its financing business unorganised sector. During FY16 new business
portfolio; in addition to gold loans, it forayed contributed almost 12% of MFLs AUM. As on TI Growth (y-o-y) 11.9
into providing microfinance, housing loans Mar 31, 2016 the company had 3663 branches NP Growth (y-o-y) 24.6
and commercial vehicle loans. MFL entered across the country.
NPM 15.2
microfinance segment by acquiring Asirvad
(As on Mar 31, 2016)

Manipal Housing Finance Syndicate Limited

Manipal House, Manipal - 576104, Karnataka
Website: www.manipalhousing.com

Business Profile Company has 38 branches across 11 locations Dun & Bradstreet D-U-N-S No 67-551-7809
Manipal Housing Finance Syndicate Ltd (MHFSL) and besides home finance the company also Financials (` mn)
established in 1986 is a housing finance sanctions loans against gold ornaments, which
Total Income 423.2
company promoted by Syndicate Bank and contributes nearly 11% of MHFSLs turnover.
diversified conglomerate the Manipal Group. The company has partnered with insurance Net Profit 54.4
It is a deposit accepting company registered companies to market insurance products to Growth and Profitability (%)
with National Housing Bank. MHFSLs business the companys customers During FY16, MHFSL
activity includes providing long term finance to disbursed ` 1611.4 mn loans increasing the TI Growth (y-o-y) (5.3)
individuals for acquisition, construction, repairs, companys total loan book to ` 3405 mn and its NP Growth (y-o-y) 12.9
renovation of houses and providing business gold loan book stood at ` 241.8 mn.
NPM 12.9
or personal finance on existing property The
(As on Mar 31, 2016)

Motilal Oswal Financial Services Limited

Motilal Oswal Tower, Rahimtullah Sayani Road, Opp Parel ST Depot, Prabhadevi, Mumbai 400025, Maharashtra
Website: www.motilaloswalgroup.com

Business Profile wealth management, investment banking, Dun & Bradstreet D-U-N-S No 65-097-5381
Motilal Oswal Financial Services Ltd (MOFSL) private equity (growth capital and real estate), Financials (` mn)
founded in 1987 and incorporated as a public asset management and home finance. MOFSL
Total Income 1,108.6
limited company in 2005 is the holding company is present in more than 2000 locations in 511
of the Motilal Oswal Group. The company is cities. During FY16 MOFSLs PAT was ` 1.69 bn Net Profit 467.5
a non banking financial company registered on consolidated revenue of ` 10.93 bn which Growth and Profitability (%)
with RBI and it is engaged in managing the comprised of 47% from broking activities nearly
financial infrastructure of the Group. The 20% each from housing finance and asset TI Growth (y-o-y) (14.2)
company through its 17 subsidiaries is engaged management fees and 10% from fund based NP Growth (y-o-y) (22.7)
in retail broking and financial products business.
NPM 42.2
distribution, institutional broking, private
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

Muthoot Capital Services Limited

3rd Floor, Muthoot Towers, M.G. Road, Kochi - 682035, Kerala
Website: www.muthootcap.com

Business Profile against property, shares, gold ETFs, SME loans, Dun & Bradstreet D-U-N-S No 86-220-2157
Muthoot Capital Services Ltd (MCSL) mortgage loans, leasing and hire purchase loans Financials (` mn)
incorporated in 1994 is a deposit taking and bill discounting. MCSL has 31 branches
Total Income 2,284.9
non banking finance company registered in across 14 states and its loan disbursements
1998 with RBI. Promoted by the Muthoot compromise majorly of two wheeler loans. As Net Profit 228.5
Pappachan Group MCSL provides consumer on Mar 31, 2016 MCSL had disbursed ` 9279.6 Growth and Profitability (%)
finance for automobile loans i.e. two and mn loans of which ` 7800.2 mn were for two
four wheeler loans. The company provides wheelers and corporate and other business TI Growth (y-o-y) 19.4
finances for Tata Nano cars and used cars and loans amounted to ` 1479.4 mn. NP Growth (y-o-y) 2.5
its commercial vehicle finance unit caters to the
NPM 10.0
three wheeler category. MCSL also offers loans
(As on Mar 31, 2016)

Muthoot Finance Limited

2nd Floor, Muthoot Chambers, Banerji Road, Kochi - 682018, Kerala
Website: www.muthootfinance.com

Business Profile also took over Muthoot Insurance Brokers Pvt Dun & Bradstreet D-U-N-S No 87-178-2309
Muthoot Finance Ltd (MFL) incorporated in 1997 Ltd, an IRDA registered insurance direct broker Financials (` mn)
is the flagship company of Muthoot Group; it is making it MFLs wholly-owned subsidiary.
Total Income 48,750.2
registered with RBI as a systemically important During FY16 MFL also increased its stake in its
non-deposit taking NBFC. MFLs primary subsidiary in Sri Lanka, Asia Asset Finance PLC Net Profit 8,095.5
business activity is providing loans against which provides gold loans and microfinance. Growth and Profitability (%)
collateral of gold jewellery. Its other business MFL is present across the country through more
activities include providing home loans and than 4275 branches with almost 70% of these TI Growth (y-o-y) 12.7
insurance services. During FY16 the company being located in rural and semi-urban areas. NP Growth (y-o-y) 20.7
forayed into microfinance by acquiring 46.83%
NPM 16.6
of Belstar Investment and Finance Pvt. Ltd. It
(As on Mar 31, 2016)

Muthoot Fincorp Limited

Muthoot Centre, Punnen Road, Trivandrum -695039, Kerala
Website: www.muthootfincorp.com

Business Profile services. The company also offers microfinance Dun & Bradstreet D-U-N-S No 92-483-8100
Muthoot Fincorp Ltd (Muthoot Fincorp), the solutions through its microfinance arm Muthoot Financials (` mn)
flagship company of the 129 years old Muthoot Mahila Mitra to promote entrepreneurship
Total Income 20,852.3
Pappachan Group, is one of the largest NBFCs among female clients. Currently the company
in India. Muthoot Fincorp is a provider of mass serves over one million customers through its Net Profit 874.4
finance in the form of gold loans. The company 3,800 branches. Growth and Profitability (%)
has a vast product offering catering to the
various needs of the customers including gold TI Growth (y-o-y) 2.3
loans, business loans, housing loans, auto loans, NP Growth (y-o-y) 4.4
money transfers, foreign exchange service,
NPM 4.2
insurance services, and wealth management
(As on Mar 31, 2016)

NABARD Financial Services Limited

#3072, 14th Cross, K R Road, Banashankari 2nd Stage, Bengaluru 560070, Karnataka
Website: www.nabfins.org

Business Profile broad areas of agriculture and microfinance. Dun & Bradstreet D-U-N-S No 86-031-2379
NABARD Financial Services Limited (NABFINS) Under the agriculture business, the company Financials (` mn)
was incorporated in 1997 as Karnataka Agri provides credit and other facilities for
Total Income 1,445.1
Development Finance Company and is a promotion, expansion, commercialization,
subsidiary of the National Bank for Agriculture and modernization of agriculture and allied Net Profit 87.0
and Rural Development (NABARD). The activities. Under its microfinance business, the Growth and Profitability (%)
company is registered as the systemically company extends loans to farmers, artisans &
important non-deposit taking NBFC (NBFC- individuals; SHGs, JLGs & small and marginal TI Growth (y-o-y) 16.7
ND-SI) and also obtained its license to operate producers groups; micro and small enterprises NP Growth (y-o-y) (50.0)
as micro-finance institution in 2012. The among others.
NPM 6.0
company provides financial services in two
(As on Mar 31, 2016)

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Indias Leading BFSI Companies 2017

National Bank for Agriculture and Rural Development

Plot No C-24, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400051, Maharashtra
Website: www.nabard.org

Business Profile lending to CCBs among others. The banks Dun & Bradstreet D-U-N-S No 65-050-8245
National Bank for Agriculture and Rural development activities involve institutional Financials (` mn)
Development (NABARD) was established in development, micro credit innovation and
Total Income 207,301.2
July 1982 to promote sustainable and equitable research development among others. NABARD
agriculture and rural prosperity through effective also conducts supervisory inspections of SCBs, Net Profit 25,238.1
credit support, related services and institution CCBs and RRBs along with voluntary inspections Growth and Profitability (%)
development. NABARD provides refinancing of SCARDBs and apex-level cooperative societies
in the form of short, medium and long term and federations. As per its annual report for TI Growth (y-o-y) 16.4
loans; and direct financing in the form of rural FY16, NABARDs cumulative disbursement under NP Growth (y-o-y) 5.0
infrastructure development funds (RIDF), credit RIDF stood at ` 1,900.2 bn.
NPM 12.2
facilities to marketing federations and direct
(As on Mar 31, 2016)

National Commodity & Derivatives Exchange Limited

Akruti Corporate Park,1st Floor, Near G.E.Garden , L.B.S. Marg, Kanjurmarg (West), Mumbai - 400078
Website: www.ncdex.com

Business Profile exchange platform across the country. As on Mar Dun & Bradstreet D-U-N-S No 91-562-8636
National Commodity & Derivatives Exchange 31 2016, NCDEX enabled trading offered trading Financials (` mn)
Ltd (NCDEX) was incorporated in Apr 2003. in 27 commodity contracts, which includes 21
Total Income 1,737.4
The company is jointly promoted by national agricultural commodity contracts, 3 bullion
level financial institutions, large public sector commodity contracts, 2 metal commodity Net Profit 688.1
banks and companies. NCDEX is a demutualised contracts and 1 commodity contract in energy Growth and Profitability (%)
online commodity exchange regulated by SEBI. sector. During the same period, the exchange
It offers a commodity trading platform for had 417 approved warehouses with a capacity TI Growth (y-o-y) 19.4
market participants to trade in a wide spectrum of 2.34 MMT. NP Growth (y-o-y) 156.8
of commodity derivatives. As on Mar 31
NPM 39.6
2016, NCDEX had about 585 members on the
(As on Mar 31, 2016)

National Housing Bank

Core 5-A, India Habitat Centre, 3rd-5th Floor, Lodhi Road, New Delhi - 110003
Website: www.nhb.org.in

Business Profile finance, guarantee and securitization. NHB has Dun & Bradstreet D-U-N-S No 65-050-8591
National Housing Bank (NHB), wholly owned by also played a lead role in starting up mortgage Financials (` mn)
RBI was established in 1988. NHB operates as backed securitisation and development of a
Total Income 42,126.0
a principal agency to promote housing finance secondary mortgage market in the country. NHB
institutions both at local and regional levels and also undertakes promotion and development Net Profit 7,918.5
to provide financial and other support to such activities by equity participation in HFCs and Growth and Profitability (%)
institutions. The primary functions of NHB are guaranteeing bonds of HFCs among others.
to provide financing, regulation and promoting TI Growth (y-o-y) 9.0
housing finance market in the society. NHB NP Growth (y-o-y) 6.0
supports housing finance sector by providing
NPM 18.8
assistance in the form of refinance, project
(As on June 30, 2016)

The National Securities Clearing Corporation Limited

Exchange Plaza C-1 Block Gbandra Kurla Complex Bandra East, Mumbai - 400051, Maharashtra
Website: www.nscclindia.com/NSCCL/

Business Profile Bank, HSBC, ICICI Bank, IDBI Bank, IndusInd Dun & Bradstreet D-U-N-S No 91-624-0369
National Securities Clearing Corporation Ltd Bank, Kotak Mahindra Bank, Standard Chartered Financials (` mn)
(NSCCL), a wholly owned subsidiary of NSE, Bank, SBI and Union Bank of India. During
Total Income 3,314.2
was incorporated in 1995 and commences the FY16, 247 rolling settlements were handled
clearing operations in April 1996. The company in dematerialised mode. The average value of Net Profit 1,658.9
is primarily engaged in clearing and settlement securities handled per settlement was ` 50.7 Growth and Profitability (%)
of all trades executed on NSE and deposit and bn in FY16 compared to ` 52.3 bn in FY15. The
collateral management and risk management average funds pay-in per settlement during FY16 TI Growth (y-o-y) (17.6)
functions. NSCCL does settlement of funds stood at ` 15.7 bn and ` 15 bn respectively. NP Growth (y-o-y) (24.2)
through 13 clearing banks namely Axis Bank,
NPM 50.1
Bank of India, Canara Bank, Citibank, HDFC
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

National Securities Depository Limited

Trade World, A wing, 4th & 5th Floors, Kamala Mills Compound, Lower Parel, Mumbai - 400013, Maharashtra
Website: www.nsdl.co.in

Business Profile pledge, hypothecation of securities, automatic Dun & Bradstreet D-U-N-S No 86-220-2454
National Securities Depository Ltd (NSDL) delivery of securities to clearing corporations, Financials (` mn)
was established in Aug 1996. NDSL provides distribution of cash and non-cash corporate
Total Income 1,375.0
depository services to the investors and benefits and stock lending among others. As
brokers in the Indian capital market. NSDL on Dec 2016, NSDL had 15.2 mn active client Net Profit 819.9
offers a wide range of basic services including accounts. During the same period, the DP Growth and Profitability (%)
account maintenance, dematerialisation & network comprised of 267 DPs, spread across
rematerialisation of shares, settlement of trades 1,944 cities and towns across the country TI Growth (y-o-y) 11.2
through market transfers, off market transfers operating through 27,342 DP service centres. NP Growth (y-o-y) 86.4
& inter-depository transfers amongst others.
NPM 59.6
Additional services offered by NSDL includes
(As on Mar 31, 2016)

The National Small Industries Corporation Limited

NSIC Bhawan, Okhla Industrial Estate, New Delhi - 110020, Delhi
Website: www.nsic.co.in

Business Profile registration, infomediary services, marketing Dun & Bradstreet D-U-N-S No 87-179-6227
The National Small Industries Corporation intelligence, bill discounting and infrastructure. Financials (` mn)
Ltd (NSIC) is GoI enterprise under Ministry of To meet the credit requirements of MSME
Total Income 26,854.4
MSME. The company is set up primarily for the units, NSIC has signed MoU with 33 public &
promotion of MSMEs in the country. It offers private sector banks. During FY16, agreements Net Profit 1,014.6
tailored schemes to facilitate marketing support, were signed with two more banks i.e. Bhartiya Growth and Profitability (%)
finance support, technology support and other Mahila Bank and South Indian Bank.
support services. Various schemes and services TI Growth (y-o-y) 2.6
offered by NSIC include marketing assistance, NP Growth (y-o-y) 14.5
bank credit facilitation, performance & credit
NPM 3.8
ratings, raw material assistance, single point
(As on Mar 31, 2016)

National Stock Exchange of India Limited

Exchange Plaza, Plot No. C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai - 400051, Maharashtra
Website: www.nseindia.com

Business Profile and clearing members and listed companies Dun & Bradstreet D-U-N-S No 91-843-4122
National Stock Exchange of India Ltd (NSE) with the rules and regulations. As per the annual Financials (` mn)
was incorporated in Nov 1992 and received report for FY16, 31 new members got registered
Total Income 20,445.4
the recognition as a stock exchange in Apr with NSE, taking the total membership to 1,467.
1993. NSE operates a nation-wide electronic As on March 31, 2016, the number of listed Net Profit 4,393.3
market offering trading in equity & equity companies available for trading on NSE stood Growth and Profitability (%)
linked products, derivatives, and debt. It offers at 1,580.
exchange listings, trading services, clearing and TI Growth (y-o-y) 6.6
settlement services, indices, market data feeds, NP Growth (y-o-y) (43.7)
technology solutions and financial education
NPM 21.5
offerings. It also oversees compliance by trading
(As on Mar 31, 2016)

North Eastern Development Finance Corporation Limited

NEDFi House, G. S. Road, Dispur, Guwahati - 781006, Assam
Website: www.nedfi.com

Business Profile to the state governments, private sectors and Dun & Bradstreet D-U-N-S No 91-628-6271
North Eastern Development Finance other agencies. As per the annual report for Financials (` mn)
Corporation Ltd (NEDFCL), a public limited Mar 31 2016, the cumulative sanctions and
Total Income 1,524.2
company was incorporated in 1995. NEDFCL disbursements of NEDFCL stood at ` 40.0 bn
was registered as a NBFC with RBI in 2002. and ` 30.1 bn registering a growth of 9.9% and Net Profit 616.7
NEDFCL provides financial assistance to MSMEs 11.2% respectively. In FY16, NEDFCL bagged Growth and Profitability (%)
for setting up industrial, infrastructure and nine advisory & consultancy projects with fee
agri-allied projects in the north eastern region value totalling to ` 38.9 mn. TI Growth (y-o-y) 3.9
of India. The company also offers microfinance NP Growth (y-o-y) (18.5)
through MFI/NGOs. Apart from financing,
NPM 40.5
NEDFCL offers consultancy & advisory services
(As on Mar 31, 2016)

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Indias Leading BFSI Companies 2017

Pilani Investment and Industries Corporation Limited

Birla Building, 9/1, R.N. Mukherjee Road, Kolkata - 700001, WB
Website: www.pilaniinvestment.com

Business Profile PIC Properties Ltd and PIC Realcon Ltd deals into Dun & Bradstreet D-U-N-S No 65-065-3736
Pilani Investment and Industries Corporation realty business. Pilani Investment also has two Financials (` mn)
Ltd (Pilani Investment) was incorporated in Aug associate companies namely Century Textiles &
Total Income 466.1
9, 1948 under the Jaipur Companies Act, 1942 Industries Ltd and Kesoram Industries Ltd.
and commenced its business on Aug 12, 1948. Net Profit 389.1
Pilani Investment is an investment company Growth and Profitability (%)
registered with RBI as a non-deposit taking
NBFC. The equity shares of the company are TI Growth (y-o-y) (8.1)
listed on Madhya Pradesh Stock Exchange Ltd NP Growth (y-o-y) (8.3)
and Delhi Stock Exchange Association Ltd. The
NPM 83.5
company through its wholly owned subsidiaries,
(As on Mar 31, 2016)

PNB Gilts Limited

5, Sansad Marg, New Delhi - 110001, Delhi
Website: www.pnbgilts.com

Business Profile loans, corporate bonds, interest rate swaps Dun & Bradstreet D-U-N-S No 91-534-7681
PNB Gilts Ltd (PNB Gilts) was established and various money market instruments such Financials (` mn)
as a wholly owned subsidiary of Punjab as certificates of deposits, commercial papers
Total Income 3,434.0
National Bank. The company has been among others. The company has a wide client
granted the primary dealership license by base ranging from provident funds trusts, RRBs, Net Profit 345.0
the RBI. PNB Gilts primary activities includes co-operative banks, corporate and individuals. Growth and Profitability (%)
supporting government borrowing program As per the company annual report for the
via underwriting of government securities period ending Mar 31 2016, capital adequacy TI Growth (y-o-y) (16.2)
issuances and trade in a gamut of fixed ratio of the company stood at 68.07%. NP Growth (y-o-y) (60.9)
income instruments such as government
NPM 10.0
securities, treasury bills, state development
(As on Mar 31, 2016)

PNB Housing Finance Limited

9th Floor, Antriksh Bhawan, 22, K. G. Marg, New Delhi - 110001, Delhi
Website: www.pnbhousing.com

Business Profile loan against property and loan for purchase of Dun & Bradstreet D-U-N-S No 91-661-0327
PNB Housing Finance Ltd (PNBHFL), a subsidiary residential plots. As per the company annual Financials (` mn)
of Punjab National Bank, is a registered housing report, its loan portfolio crossed ` 270 bn
Total Income 26,965.9
finance company with NHB. The company in FY16, achieving a five year CAGR of 62%.
commenced its business operations in the year During the same period, it added new branches Net Profit 3,264.7
1988. It mainly operates in three segments viz across Vishakapatnam, Faridabad, Bhiwadi, Growth and Profitability (%)
home loans, non-home loans and fixed deposits. Nasik, Surat, Vadodara, Vijaywada, Thrissur and
PNBHFL caters to individuals and corporate Hyderabad, taking the overall network to 47 TI Growth (y-o-y) 51.8
by providing housing loans for construction, branches and 16 processing hubs. NP Growth (y-o-y) 66.5
purchase, repair and upgradation of houses,
NPM 12.1
in addition to loans for commercial space,
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Profit
Growth and Profitability (%)
TI Growth (y-o-y)
NP Growth (y-o-y)
NPM
(As on Mar 31, 2016)

70

Power Finance Corporation Limited
About the Company
Power Finance Corporation Ltd (PFC)
was established in 1986 as a financial
institution to cater to the finance needs of
the Indian power sector. The Government
of India is the major shareholder, holding
67.80%. PFC was conferred with the
status of a Navratna in 2007. In 1998,
the company was registered with RBI
as NBFC and in 2010, RBI classified PFC
as an Infrastructure Finance Company
Rajeev Sharma (NBFC-ND-IFC). Its clients include state
Chairman & Managing Director electricity boards, state power utilities,
state electricity/power departments,
Dun & Bradstreet D-U-N-S No 87-179-8223 other state departments engaged in the
development of power projects, central
Financials (` mn) power utilities, joint sector power utilities,
Total Income 275,643.1 equipment manufacturers and private
sector power utilities. The company offers
Net Profit 61,134.8 fund and non-fund based products and
services such as project term loans, debt
Growth and Profitability (%)
refinancing, short term loans, corporate
TI Growth (y-o-y) 10.7 loan, bridge loan, line of credit, guarantee,
lease financing and letter of comfort,
NP Growth (y-o-y) 2.6
among others. PFC also provides loan
NPM 22.2 syndication services in the areas of power,
energy & infrastructure. The company has
(As on Mar 31, 2016) 13 subsidiaries and 2 joint ventures. PFC
has allocated ` 1.66 bn for CSR activities
Management Details
in F.Y.2016-17.
Chairman & Managing Director
Rajeev Sharma Some of the major milestones achieved by
Directors PFC include:
Dr Arun Kumar Verma The company has crossed cumulative
R Nagarajan loan sanctions of ` 6 trillion as on
D Ravi
31.12.2016
Chinmoy Gangopadhyay
Sitaram Pareek The company emerged as the largest
NBFC in the country based on net
worth (all reserves) as on March 31,
2016
The company also became the 5th
highest profit making CPSE in the
country among 298 CPSEs as per DPE
Survey, 2016.
Business Parameters at a Glance (As
Registered Address and Website on 31.12.2016)
Cumulative Loan Sanctions -
Power Finance Corporation Ltd.
` 6 trillion
Urjanidhi,
1, Barakhamba Lane, Cumulative Loan Disbursements -
Connaught Place ` 4.3 trillion
New Delhi - 110 001 Outstanding Loan sanctions -
Website ` 1.7 trillion
www.pfcindia.com
Loan Assets - ` 2.35 trillion
Advertorial 71
Indias Leading BFSI Companies 2017
Some of these initiatives where PFC is
playing a pivotal role are:
Integrated Power Development Scheme
(IPDS) to strengthen power distribution
sector in urban areas
Under IPDS, PFC sanctioned ` 259 bn
for identified 3,597 towns
PFC developed Mobile App URJA
for effective online monitoring &
implementation of IPDS
PFC successfully rolled out
Restructured Accelerated Power
Development and Reform
Programme (R-APDRP subsumed in
IPDS) Scheme to reduce AT&C losses
below 15% in identified 1,405 towns
using state of the art IT applications
for which ` 380 bn has already been
sanctioned to all eligible projects
Ultra Mega Power Projects (UMPPs)
PFC is the nodal Agency for
development of UMPPs. Some
of the benefits of UMPPs include
competitive tariff due international
tariff based bidding, economies of
scale benefits as each project is ~
4000 MW each and Higher efficiency
due to Super critical technology
As of now 4 UMPPs were transferred,
4 UMPPs are on fast track and 7 are
in pipeline
Independent Transmission Projects (ITPs)
PFC acts as Bid Process Coordinator for
ITPs, which are also competitively bid in
similar lines to UMPPs. So far 15 ITPs have
been transferred or awarded out of the 25
identified ITPs.
Additionally, PFC is also playing an active
role in distribution reforms as below:
24X7 Power for All (PFA) by 2019
PFC played a key role in developing
24X7 PFA document specific to each
of the States / UTs
Appointed Consultants for 36 States
/ UTs, out of which 29 States and
all 6 UTs have already signed PFA
documents detailing the road map
to achieve PFA
UDAY (Ujwal DISCOM Assurance Yojana)
Scheme
Facilitated with financial and
analytical data on DISCOMs for
formulating the scheme
Actively involved in implementation
of UDAY scheme
Indias Leading BFSI Companies 2017

PTC India Financial Services Limited

7th Floor, Telephone Exchange Building, 8 Bhikaji Cama Place, New Delhi - 110066, Delhi
Website: www.ptcfinancial.com

Business Profile
PTC India Financial Services Ltd (PIFSL)
formed in 2006 is a subsidiary of PTC India
Ltd and registered with RBI as a systemically
important non-deposit taking NBFC. The
company classified as an Infrastructure Finance
Company provides investment and financing
services to power and related infrastructure
sectors. It caters to financing the power sector
value chain including investing in equity,
providing debt to power projects in generation,
transmission, distribution; fuel sources, fuel Dun & Bradstreet D-U-N-S No 67-710-4050
related infrastructure like gas pipelines, LNG Financials (` mn)
terminals, ports, equipment manufacturers
Total Income 11,869.3
and EPC contractors amongst others. PIFSL also
provides non-fund based financial services to Net Profit 3,911.0
green field and brown field projects at various Growth and Profitability (%)
stages. During FY16 PIFSL collaborated through
International Financial Corporations Master TI Growth (y-o-y) 48.0
Cooperation Agreement to promote financing NP Growth (y-o-y) 143.1
in renewable energy projects. Till FY16 the
NPM 33.0
companys gross loan book was ` 86,340 mn.
(As on Mar 31, 2016)

Reliance Capital Limited

H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai - 400710, Maharashtra
Website: www. reliancecapital.co.in

Business Profile banking. In 1998 RCL was registered as a non Dun & Bradstreet D-U-N-S No 91-861-8294
Reliance Capital Ltd (RCL) is a Reliance Group banking financial company and it further Financials (` mn)
company incorporated in 1986 at Ahmedabad, expanded its activities to include asset
Total Income 41,450.0
Gujarat as Reliance Capital & Finance Trust Ltd management and mutual fund; life and general
which changed to its present name RCL in 1995. insurance; commercial finance and industrial Net Profit 9,770.0
RCL initially offered leasing, bill discounting finance; stock broking; depository services; Growth and Profitability (%)
services and inter-corporate deposits. In 1993 proprietary investments; asset reconstruction;
RCL diversified its business to include portfolio distribution of financial products and other TI Growth (y-o-y) 3.9
investment, lending against securities, custodial activities in financial services. As on Mar 31, NP Growth (y-o-y) 29.1
services, money market operations, project 2016 RCLs consolidated total assets stood at
NPM 23.6
finance advisory services and investment ` 671.12 bn.
(As on Mar 31, 2016)

Reliance Home Finance Limited

Reliance Centre,6th Floor, South Wing,Off Western Express Highway,Santacruz East,Mumbai,Mumbai - 400055
Website: www.reliancehomefinance.com

Business Profile and extension of homes, new and resalable Dun & Bradstreet D-U-N-S No 91-576-5815
Reliance Home Finance Ltd (RHFL) was flats, against mortgage of the same property. It Financials (` mn)
incorporated in 2008 and the home finance also provides certain categories of non-housing
Total Income 8,150.3
portfolio of Reliance Capital Ltd was transferred loans such as Loan Against property. The asset
to the company. The company is also registered under management of the company stood at Net Profit 867.6
as a non-public deposit taking housing finance ` 73.6 bn in FY16 registering a growth of 27.5%. Growth and Profitability (%)
company with NHB on January 6, 2009. The During FY16, RHFLs CAR stood at 16.3%.
company offers Home Loans, which includes TI Growth (y-o-y) 59.0
providing secured finance primarily to NP Growth (y-o-y) 25.6
individuals, partnership firms and companies for
NPM 10.6
the purchase, self-construction, improvement
(As on Mar 31, 2016)

Religare Enterprises Limited

D3, P3B, District Centre, Saket, New Delhi - 110017, Delhi
Website: www.religare.com

Business Profile Company Ltd. The capital market business Dun & Bradstreet D-U-N-S No 86-380-9692
Religare Enterprises Ltd (REL) is a holding involves retail broking, wealth management Financials (` mn)
company of diversified financial services group. and institutional equities conducted through
Total Income 1,263.8
REL through its subsidiaries offers an integrated Religare Securities Ltd, Religare Wealth
suite of financial services including lending, Management Ltd and Religare Capital Markets Net Profit 838.3
health insurance and capital markets. The Ltd respectively. The companys products and Growth and Profitability (%)
lending business involves Religare Finvest Ltd services cater to various customer segments
engaged in SME finance; and Religare Housing like retail, HNIs, UHNIs, mid-size corporates, TI Growth (y-o-y) 10.4
Development Finance Corporation Ltd engaged SMEs to large corporates and institutions. NP Growth (y-o-y) (181.0)
in affordable housing finance. Its insurance
NPM 66.3
business is carried by Religare Health Insurance
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

Religare Finvest Limited

D3, P3B, District Centre, Saket, New Delhi - 110017, Delhi
Website: www.religarefinvest.com

Business Profile the company operates a subsidiary, Religare Dun & Bradstreet D-U-N-S No 86-346-2328
Religare Finvest Ltd (RFL) was incorporated in Housing Development Finance Corporation Ltd, Financials (` mn)
Jan 1995 as Skylark Securities Pvt. Ltd. In 2006 which provides home loans with a focus on the
Total Income 25,282.9
it acquired its present name. The company is a affordable housing segment. As per the annual
subsidiary of Religare Enterprises Ltd and a non- report for FY16, RFL expanded its network to 30 Net Profit 2,951.4
deposit taking NBFC catering especially to SMEs branches spread across the country. During the Growth and Profitability (%)
in the country. Its product portfolio comprises same period, its total loans and advances grew
of unsecured SME Working Capital, Secured 26% to reach ` 181 bn. TI Growth (y-o-y) 16.9
SME business expansion loans, short-term trade NP Growth (y-o-y) 14.9
finance and capital market loans that includes
NPM 11.7
ESOP financing and IPO financing. Additionally,
(As on Mar 31, 2016)

Religare Housing Development Finance Corporation Limited

2nd Floor, Rajlok Building, 24, Nehru Place, New Delhi-110019
Website: www.religarehomeloans.com

Business Profile Loans, Home Extension Loans and Self Dun & Bradstreet D-U-N-S No 86-031-2386
Religare Housing Development Finance Construction Loans. Financials (` mn)
Corporation Ltd (RHDFC) was incorporated
Total Income 1,064.4
on June 30, 1993 as Maharishi Housing
Development Finance Corporation Ltd. On Net Profit 186.9
September 7, 2010, the company acquired its Growth and Profitability (%)
present name. RHDFC is a Housing Finance
Company registered with the National Housing TI Growth (y-o-y) 87.3
Bank. The company is a subsidiary of Religare NP Growth (y-o-y) 25.0
Finvest Ltd. It offers a wide array of services
NPM 17.6
ranging from Home Loans, Home Improvement
(As on Mar 31, 2016)

Rural Electrification Corporation Limited

Core - 4, SCOPE Complex, 7, Lodhi Road, New Delhi - 110003, Delhi
Website: www.recindia.nic.in

Business Profile amongst others. REC has been appointed the Dun & Bradstreet D-U-N-S No 86-220-5911
Rural Electrification Corporation Ltd (REC) governments nodal agency for its Deen Dayal Financials (` mn)
incorporated in 1969 is a CPSE Navratna which Upadhyaya Gram Jyoti Yojan , a scheme for
Total Income 237,562.8
is registered with RBI as infrastructure finance rural electrification; for the National Electricity
NBFC. RECs core business is to finance and Fund, an interest subsidy scheme for power Net Profit 56,276.6
promote power sector projects in the country. It distribution companies; and for the Outage Growth and Profitability (%)
provides loan assistance to state power utilities, Management System and 11 KV Rural Feeder
private sector project developers, central Management System. As on Mar 31, 2016, REC TI Growth (y-o-y) 16.5
power sector utilities and state governments for had a loan book of ` 2012.78 bn. NP Growth (y-o-y) 7.0
investments in power generation, transmission,
NPM 23.7
distribution and system improvement schemes
(As on Mar 31, 2016)

S. E. Investments Limited
101, CSC, Pocket 52, CR Park, Near Police Station, New Delhi - 110019
Website: www.seil.in

Business Profile MSMEs, small entrepreneurs, partnership firms Dun & Bradstreet D-U-N-S No 86-031-2387
S.E. Investments Ltd (SE Investments) was and individuals. As per the company annual Financials (` mn)
promoted as a private limited company in 1992. report for FY16, the secure loan segment
Total Income 1,933.7
In 1995, it got converted into a public limited accounted for 78% of its overall business.
company. The company is registered as a non- It catered to more than 0.7 mn customers Net Profit 451.3
deposit taking NBFC with RBI. SE Investments registering a Y-o-Y growth of around 8.25%. Growth and Profitability (%)
is engaged in two business segments namely; During the same period, CRAR of SE Investments
secured and unsecured loans. Under these stood at 41.69%. TI Growth (y-o-y) 8.4
segments, it offers business loans, MSME/SME NP Growth (y-o-y) 1.4
loans, income generation loans and consumer
NPM 23.3
durable finance. Its offerings mainly cater to
(As on Mar 31, 2016)

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Indias Leading BFSI Companies 2017

Sakthi Finance Limited

62, Dr. Nanjappa Road, Coimbatore - 641018, TN
Website: www.sakthifinance.com

Business Profile financial schemes catering to the funding Dun & Bradstreet D-U-N-S No 65-011-2097
Sakthi Finance Ltd (SFL), a part of Sakthi Group of requirements of commercial vehicle operators. Financials (` mn)
Companies, was incorporated in the year 1955 as The company operates with a network of over
Total Income 1,720.7
a NBFC catering to the purchase financial needs 49 branches the states of TN, Kerala, Karnataka
of groups TELCO dealership units. Eventually, & AP. As per the company annual report, its Net Profit 125.3
the company transformed into a leading player hire purchase disbursements reached ` 5.3 bn Growth and Profitability (%)
in the captive hire purchase business. Presently, in FY16.
the company is engaged in commercial vehicle TI Growth (y-o-y) 14.2
financing and equipment financing. SFL also NP Growth (y-o-y) (20.9)
offers refinancing for commercial vehicles and
NPM 7.3
construction equipments along with various
(As on Mar 31, 2016)

Satin Creditcare Network Limited

5th Floor, Kundan Bhawan, Azadpur Commercial Complex, Delhi - 110033, Delhi
Website: www.satincreditcare.com

Business Profile focus on small business owners who are in Dun & Bradstreet D-U-N-S No 91-584-0743
Satin Creditcare Network Ltd (SCNL) started manufacturing, trading & services. As on Mar Financials (` mn)
operations in 1990 and was registered with RBI 2016, SCNL operated with 431 branches across
Total Income 5,585.2
as a deposit-taking NBFC in 1998. The company major states such as UP, MP, J&K, Maharashtra,
is engaged in microfinance activities. It offers Rajasthan, Punjab, Haryana, Chandigarh, Net Profit 579.4
finance to both the urban and rural poor to cater Uttarakhand, Bihar and WB among others. Growth and Profitability (%)
to their productive requirements in establishing During the same period, it operated 1.89 mn
new businesses or expanding existing ones. active loan accounts. TI Growth (y-o-y) 72.3
The company offers income generating loans, NP Growth (y-o-y) 82.7
water & sanitation loans and solar loans among
NPM 10.4
others. It also caters to MSMEs with special
(As on Mar 31, 2016)

SBI DFHI Limited

Voltas House, 3rd Floor, 23, J. N. Heredia Marg, Ballard Estate, Mumbai - 400001, Maharashtra
Website: www.sbidfhi.co.in

Business Profile market instruments such as certificates of Dun & Bradstreet D-U-N-S No 91-534-2187
SBI DFHI Ltd (SBI DFHI), a subsidiary of SBI was deposit, commercial paper, inter-corporate Financials (` mn)
established in 2004 on account of the merger deposits, call & notice money and deposits
Total Income 4,299.7
between the RBI promoted Discount & Finance among others. It also undertakes retailing of
House of India and SBI Gilts Ltd, a subsidiary Government Securities, and distribution of MFs Net Profit 721.9
of SBI. SBI DFHI operates in the primary among others. As per the company financial Growth and Profitability (%)
dealer segment of the domestic debt market, statements, its capital to risk weighted assets
SBI DFHI undertakes trade in fixed income ratio stood at 36.33% as on Mar 31 2016. TI Growth (y-o-y) (1.6)
securities such as treasury bills, government NP Growth (y-o-y) (22.0)
securities, state development loans, non SLR
NPM 16.8
bonds, corporate bonds and short term money
(As on Mar 31, 2016)

Shriram City Union Finance Limited

123, Angappa Naicken Street, Chennai 600001
Website: ww.shriramcity.in

Business Profile caters to the lower and middle-income group in Dun & Bradstreet D-U-N-S No 86-220-6729
Shriram City Union Finance Ltd (SCUF) a Tier-II and Tier-III cities. As on Sep 30, 2016 the Financials (` mn)
subsidiary of Shriram Capital Ltd established in company had 981 branches across the country
Total Income 38,560.2
1986 as deposit-accepting non-banking financial with almost 80% of them in underserved non
company. SCUF is engaged in providing small metro semiurban locations. SCUFs AUM as Net Profit 5,297.8
enterprise finance, loans against gold, financing on Mar 31, 2016 comprised of more than 53% Growth and Profitability (%)
for two wheelers, pre-owned and new vehicle of small enterprise finance followed by almost
loans, personal loans and it provides housing 18% contributed by two wheelers segment and TI Growth (y-o-y) 9.2
loans through its subsidiary Shriram Housing loans against gold. NP Growth (y-o-y) (5.1)
Finance Ltd. The housing loan subsidiary is
NPM 13.7
registered with the National Housing Bank which
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

Shriram Housing Finance Limited

No.123, Angappa Naicken Street, Chennai - 600001, TN
Website: www.shriramhousing.in

Business Profile thereon. The company also provides loans for Dun & Bradstreet D-U-N-S No 86-024-2900
Shriram Housing Finance Ltd (SHFL), was self-construction, of a house or extension / Financials (` mn)
promoted by Shriram City Union Finance renovation of an existing property. The company
Total Income 1,674.7
Ltd in 2010-11. The company got registered also deals in Loan Against Property and also
with National Housing Bank in August 2011, provide financial assistance to builders and Net Profit 289.5
and commenced its lending operations from developers. SHFL disbursed ` 7.9 bn in FY16 as Growth and Profitability (%)
December 2011. In FY13, Valiant Mauritius compared to ` 5 bn in FY15. During FY16, SHFLs
Partners FDI Ltd became another shareholder AUM, gross NPA and Net NPA stood at ` 12.8 TI Growth (y-o-y) 95.8
of the company. SHFL provides home loans bn, 2.76% and 1.99% respectively. NP Growth (y-o-y) 43.3
for purchase of a new / resale house as well
NPM 17.3
as purchase of plot and construction of house
(As on Mar 31, 2016)

Shriram Transport Finance Company Limited

Mookambika Complex, 3Rd Floor, No. 4, Lady Desika Road,Mylapore, Chennai Tn 600004 In
Website: www.stfc.in

Business Profile engine replacement, freight bill discounting Dun & Bradstreet D-U-N-S No 91-535-3445
Shriram Transport Finance Company Ltd (STFC) services. STFCs financing solutions are focused Financials (` mn)
is the flagship company of Shriram Group in the pre-owned commercial vehicle segment.
Total Income 102,452.6
incorporated in 1979 and registered as a deposit It has one subsidiary Shriram Automall India Ltd
taking asset financing non banking financial offering fee-based facilitation services for selling Net Profit 11,782.0
company with RBI. STFC finances commercial pre-owned commercial and passenger vehicles, Growth and Profitability (%)
vehicles including heavy duty trucks, medium, agricultural and construction equipments
intermediate light duty trucks, pick-up and mini which are repossessed by banks and financing TI Growth (y-o-y) 18.5
trucks, passenger vehicles, farm equipments companies. As on Mar 31, 2016 the outstanding NP Growth (y-o-y) (4.8)
and construction vehicles and equipments. securitised assets portfolio of STFC was ` 108.67
NPM 11.5
Besides these STFC also provides tyre finance, bn.
(As on Mar 31, 2016)

SICOM Limited
7th Floor, Bldg No. 4, Solitaire Corporate Park, Chakala, Andheri (E), Mumbai - 400093, Maharashtra
Website: www.sicomindia.com

Business Profile such as automobiles, agro/ food processing Dun & Bradstreet D-U-N-S No 87-177-6656
SICOM Ltd (SICOM), a non-deposit taking NBFC and engineering amongst others. SICOM Financials (` mn)
was incorporated in 1966. The company majorly also provides advisory services to Govt of
Total Income 8,158.2
operates in the business of corporate lending. Maharashtra in respect of disinvestment of sick
SICOM offers various fund-based and non-fund PSUs by acting as a transaction advisor. As per Net Profit (1,028.0)
based products and services to entrepreneurs. the company annual report for FY16, its asset Growth and Profitability (%)
The fund-based services of SICOM include long base reached ` 125.89 bn. During the same
term loan, corporate loan, short term loan, bill period, it provided project appraisal services to TI Growth (y-o-y) 0.5
discounting and factoring of receivables. SICOM 16 companies comprising large corporates and NP Growth (y-o-y) (1,264.2)
provides advisory services to SMEs, corporate, SMEs.
NPM (12.6)
government in diverse range of sectors
(As on Mar 31, 2016)

Small Industries Development Bank of India

SIDBI Tower, 15, Ashok Marg, Lucknow - 226001, UP
Website: www.sidbi.com

Business Profile companys overall MSME credit outstanding Dun & Bradstreet D-U-N-S No 86-218-7127
Small Industries Development Bank of India increased by 18.6% to reach ` 656.3 bn. During Financials (` mn)
(SIDBI), established in Apr 1990, is the principal the same period, it undertook several initiatives
Total Income 57,846.1
financial institution for promoting, financing such as setting up ` 1000 cr SIDBI Make in India
and developing the MSME sector and for fund with focus on 25 sectors; SIDBI Make in Net Profit 11,774.7
coordination of the functions of the institutions India Soft Loan Fund; and India Aspiration Fund Growth and Profitability (%)
engaged in similar activities. SIDBI provides (IAF) among others.
services such as risk capital / equity assistance, TI Growth (y-o-y) 0.8
sustainable finance, receivable finance, micro NP Growth (y-o-y) (16.9)
finance, factoring, services sector financing to
NPM 20.4
MSME. As per the annual report for FY16, the
(As on Mar 31, 2016)

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Srei Infrastructure Finance Limited

Vishwakarma, 86C, Topsia Road (South), Kolkata - 700046, WB
Website: www.srei.com

Business Profile development, investment banking, insurance Dun & Bradstreet D-U-N-S No 67-550-3998
Srei Infrastructure Finance Ltd (Srei broking and alternative investment fund Financials (` mn)
Infrastructure Finance) started operations in services. It also makes strategic investments in
Total Income 18,963.3
1989 with the core focus on infrastructure companies engaged in transportation projects,
sector. Srei infrastructure Finance operates rentals, rural IT infrastructure and SEZs & Net Profit 574.0
in three business verticals namely fund based industrial parks. As per the company annual Growth and Profitability (%)
services, financing solutions and strategic report, its AUM for FY16 grew 4% to reach
investments. Its fund based services includes ` 367.02 bn. The company is enhancing TI Growth (y-o-y) (0.2)
infrastructure equipment finance and project presence overseas and currently operates two NP Growth (y-o-y) (36.9)
financing, while its financial solutions includes; offices in the Russian Federation.
NPM 3.0
project advisory, insurance broking, project
(As on Mar 31, 2016)

STCI Finance Limited

A/B1, 802, Marathon Innova, Marathon Nextgen Compound, Lower Parel (West), Mumbai - 400013, Maharashtra
Website: www.stcionline.com

Business Profile funding, loans for IPO, FPO, ESOP finance, term Dun & Bradstreet D-U-N-S No 87-180-2233
STCI Finance Ltd (STCI Finance) was promoted by loans and bridge finance amongst others. As per Financials (` mn)
RBI in May 1994 as Securities Trading Corporation the annual report for the period ending March
Total Income 4,563.2
of India Ltd. In 1996, it was authorized by RBI 31 2016, the total loan book size of the company
as one of the first primary dealers in India. stood at ` 33.3 bn. The company operates two Net Profit 809.1
In Oct 2011, it acquired its present name. wholly owned subsidiaries namely; STCI Primary Growth and Profitability (%)
STCI Finance is a systemically important non- Dealer Ltd and STCI Commodities Ltd.
deposit taking NBFC, with primary focus on TI Growth (y-o-y) (1.5)
lending and investment business. It offers retail, NP Growth (y-o-y) (46.7)
corporate and other financial products such as
NPM 17.7
loans against marketable securities, promoter
(As on Mar 31, 2016)

STCI Primary Dealer Limited

A/B1- 801, Marathon Innova, Marathon Next Gen Compound, Lower Parel (W), Mumbai - 400013, Maharashtra
Website: www.stcipd.com

Business Profile dated securities including floating rate bonds, Dun & Bradstreet D-U-N-S No 67-611-1089
STCI Primary Dealer Ltd (STCI-PD) was inflation indexed bonds GoI special bonds, state Financials (` mn)
incorporated in Oct 2006 as a wholly owned development loans, treasury bills, corporate
Total Income 3,440.4
subsidiary of Securities Trading Corporation bonds, commercial papers, certificates of
of India. The core activities of STCI-PD include deposits etc. As a primary dealer, it also Net Profit 77.0
underwriting, bidding, market making and participates and trades in STRIPS, interest rate Growth and Profitability (%)
trading in government securities, treasury bills derivatives. In 2015, the company commenced
and other fixed income securities. STCI-PD dealing in equity and equity F&O market on TI Growth (y-o-y) (16.8)
plays an active role in both SLR and non-SLR proprietary basis. NP Growth (y-o-y) (90.3)
segments of the debt market. The company also
NPM 2.2
runs a proprietary portfolio comprising of GoI
(As on Mar 31, 2016)

Stock Holding Corporation of India Limited

301, Centre Point, Dr. Babasaheb Ambedkar Road, Parel, Mumbai - 400012, Maharashtra
Website: www.stockholding.co.in

Business Profile policies, online net trading, loan against shares, Dun & Bradstreet D-U-N-S No 86-388-2125
Stock Holding Corporation of India Ltd (SHCIL) Western Union Money Transfer & E-stamping Financials (` mn)
was incorporated in 1986 and is a subsidiary of among others. As on Mar 2016, it had two
Total Income 2,927.7
IFCI. It was jointly promoted by leading banks wholly owned subsidiaries namely; SHCIL
and financial institutions viz, IFCI Ltd, SU-UTI, Services Ltd (SSL) and StockHolding Document Net Profit 522.7
LIC, GIC, NIA, NIC, UIC, and TOICL. SHCILs main Management Services Ltd (SDMS). Growth and Profitability (%)
business is to provide custodial/depository
participant and estamping services to its clients. TI Growth (y-o-y) (2.7)
SHCIL also provides derivatives clearing, PF fund NP Growth (y-o-y) (21.2)
accounting, distribution of mutual funds, capital
NPM 17.9
market instruments, life and non-life insurance
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Sundaram BNP Paribas Home Finance Limited

No.21, Patullos Road, Chennai - 600002, TN
Website: www.sundarambnpphome.in

Business Profile SBPHFL. The companys loan products include Dun & Bradstreet D-U-N-S No 91-517-9758
Sundaram BNP Paribas Home Finance Ltd home loans, extension loans, improvement Financials (` mn)
(SBPHFL) was incorporated in 1999 as Sundaram loans, land loans, NRI loans and loans to
Total Income 9,272.6
Home Finance Limited (SHFL), a subsidiary of professionals. During FY16 SBPHFLs total loan
Sundaram Finance Ltd. (SFL) and registered with disbursement was ` 17.43 bn; of these ` 150 mn Net Profit 1,527.2
National Housing Bank as a housing finance were disbursed to Affordable Housing Finance Growth and Profitability (%)
company. In 2007 SFL and Union de Credit pour Companies through Line of Credit (LOC). It
le Batiment, a wholly-owned subsidiary of BNP also securitized a total of ` 126.3 mn loans. TI Growth (y-o-y) (2.8)
Paribas, France, signed a strategic partnership NP Growth (y-o-y) 4.3
in offering housing finance in India through
NPM 16.5
SHFL and its name was changed to the current
(As on Mar 31, 2016)

Sundaram Finance Limited

21, Patullos Road, Chennai - 600002, TN
Website: www.sundaramfinance.in

Business Profile present in general insurance, mutual funds, Dun & Bradstreet D-U-N-S No 85-800-5263
Sundaram Finance Ltd (SFL) was formed in 1954 housing finance, business process outsourcing, Financials (` mn)
and promoted by TVS Group with an objective information technology solutions, fleet cards
Total Income 24,750.2
of financing commercial vehicles and passenger and retail distribution of financial services and
cars which was converted into a public limited products. As on Mar 31, 2016 the company had Net Profit 4,772.8
company in 1972. Presently SFL is listed on the 569 branches across the country and the gross Growth and Profitability (%)
National Stock Exchange and it is a deposit taking receivables managed by the company stood
non banking finance company. SFL provides at ` 206.99 bn and total deposits outstanding TI Growth (y-o-y) 4.5
commercial vehicle, car, tractor, construction were ` 22.46 bn. NP Growth (y-o-y) 5.1
equipment and tyre finance. Besides financing,
NPM 19.3
the company through its subsidiaries is
(As on Mar 31, 2016)

Sustainable Agro-commercial Finance Limited

1st Floor, 7, Kumtha Street, Ballard Estate, Mumbai -400001, Maharashtra
Website: www.safl.in

Business Profile areas in India. SAFLs products includes micro Dun & Bradstreet D-U-N-S No 65-068-5584
Sustainable Agro-commercial Finance Ltd (SAFL) irrigation system financing, finance for lift Financials (` mn)
was incorporated in February 2011 and promoted irrigation system, agri- project financing, third
Total Income 369.1
by Jain Irrigation Systems Ltd. International party tie ups, farm equipment financing, dairy/
Finance Corporation (IFC) Washington is an cattle financing, solar product financing, short Net Profit 63.4
anchor shareholder and Mandala Capital AG term loan for business and short term crop Growth and Profitability (%)
Ltd became the shareholder of the company loan. The company operates through 67 offices
on March 32, 2015.SAFL got the approval from across Maharashtra, Karnataka and Madhya TI Growth (y-o-y) 51.0
RBI in July 2012 to undertake activities of NBFC. Pradesh. NP Growth (y-o-y) 268.6
SAFL provides finance for agriculture, farmers
NPM 17.2
and small businesses in rural and semi-urban
(As on Mar 31, 2016)

Tata Capital Financial Services Limited

One Forbes, Dr. V.B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra
Website: www.tatacapitalfinancialservices.com

Business Profile finance and leasing services. Consumer finance Dun & Bradstreet D-U-N-S No 86-009-7272
Tata Capital Financial Services Ltd (TCFSL) is a products include car and two wheeler and Financials (` mn)
subsidiary of Tata Capital Ltd. It is a systemically commercial loans, personal and business loans,
Total Income 34,713.4
important non deposit accepting non banking consumer durables and loans against property,
financial company registered with RBI. TCFSLs securities. The companys rural finance services Net Profit 2,657.9
products are offered under the Tata Capital are offered through 40 branches located in 13 Growth and Profitability (%)
brand and include fund and fee-based financial states. TCFSL markets the Tata Card which is
services. TCFSLs product portfolio is divided a white label credit card issued operated and TI Growth (y-o-y) 13.2
into corporate finance, consumer finance, rural serviced by the State Bank of India. NP Growth (y-o-y) 41.9
finance and Tata Cards. The corporate finance
NPM 7.7
unit includes commercial finance, infrastructure
(As on Mar 31, 2016)

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Tata Capital Housing Finance Limited

One Forbes, Dr. V.B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra
Website: www.tatacapitalhfl.com

Business Profile construction and project finances to developers Dun & Bradstreet D-U-N-S No 91-576-5816
Tata Capital Housing Finance Ltd (TCHFL) amongst other products. TCHFLs rural housing Financials (` mn)
incorporated in 2008, is a wholly owned segment is focused on providing affordable
Total Income 12,654.5
subsidiary of Tata Capital Ltd which is registered housing in Tier II and Tier III cities, semi-rural
with the National Housing Bank as a housing areas and the urban poor segment. It has Net Profit 1,126.1
finance company. TCHFL offers home loans, nearly 50 branches located in offering services Growth and Profitability (%)
loans against property and rural and affordable to this segment. During FY16 TCHFL disbursed
housing finance. The companys home loans mortgage loans amounting to ` 65.32 bn which TI Growth (y-o-y) 39.0
include loans for houses, plots and construction, included housing loans of ` 39.36 bn. NP Growth (y-o-y) 65.8
improvement and extension of homes. Loans
NPM 8.9
against property include land purchases,
(As on Mar 31, 2016)

Tata Cleantech Capital Limited

One Forbes, Dr. V.B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra
Website: www.tatacleantechcapital.in

Business Profile efficiency and water treatment sectors. The Dun & Bradstreet D-U-N-S No 87-395-5337
Tata Cleantech Capital Ltd (TCCL) is a joint company is catering to nearly 40 clients for Financials (` mn)
venture between Tata Capital Ltd and financial and advisory services. TCCL has funded
Total Income 1,049.2
International Finance Corporation, Washington over 2 GW renewable energy projects. During
D.C., USA, in the ratio of 80.50:19.50. TCCL was FY16, the company disbursed Loans amounting Net Profit 274.7
registered with the RBI as an Infrastructure to ` 9.8 bn - representing an increase of over Growth and Profitability (%)
Finance Company, on October 15, 2015. The 65% over the previous year. TCCLs loan portfolio
company offers end to end business solutions stood at ` 12.2 bn on FY16 - representing an TI Growth (y-o-y) 268.8
in the clean technology space. TCCL identifies, increase of 82%. NP Growth (y-o-y) 323.3
evaluates & funds projects in renewable energy
NPM 26.2
(solar, wind, small hydro, biomass etc), energy
(As on Mar 31, 2016)

Tata Investment Corporation Limited

Elphinstone Building, 10 Veer Nariman Road, Mumbai - 400001, Maharashtra
Website: www.tatainvestment.com

Business Profile sale of investments. TICL and its subsidiary Simto Dun & Bradstreet D-U-N-S No 86-453-2342
Tata Investment Corporation Ltd (TICL) Investment Company Ltd. are non-banking Financials (` mn)
was established in 1937 as The Investment financial companies registered with the RBI as
Total Income 2,520.7
Corporation of India Ltd. a closely held company investment companies. As on Mar 31, 2016 TICL
which subsequently converted to a public limited equity and bond investment portfolio included Net Profit 2,026.1
company in 1959. Promoted by Tata Sons, TICLs 110 companies with almost 24% being invested Growth and Profitability (%)
business activities include investing in long term in industrial and infrastructure and its net book
investments in listed and unlisted equity shares, value of investments stood at ` 21.98 bn. TI Growth (y-o-y) 9.1
debt instruments and equity related securities NP Growth (y-o-y) 8.6
of companies. A majority of the companys
NPM 80.4
income is from dividend, interest and profit on
(As on Mar 31, 2016)

Tata Motors Finance Limited

I-Think Techno Campus Building A, 2nd Floor, Off Pokhran Road No.:- 2, Thane (West) - 400601, Maharashtra
Website: www.tmf.co.in

Business Profile March 2015 TMFL underwent a business re- Dun & Bradstreet D-U-N-S No 85-800-0449
Tata Motors Finance Ltd (TMFL) was incorporated structuring as part of which its manufacturer Financials (` mn)
in 2003 as a virtual company for financing guaranteed business and its book and used
Total Income 25,392.4
vehicles manufactured by Tata Motors. In 2005 vehicle finance business and its book was
TMFLs status changed to become a wholly transferred to a new formed subsidiary Tata Net Profit 956.2
owned subsidiary of Tata Motors Ltd (TML) Motors Finance Solutions Limited (TMFSL). Growth and Profitability (%)
which in 2006 was registered as a non deposit During FY16 TMFL acquired Sheba Properties
accepting or holding non banking financial Limited (SPL) a non banking financial company TI Growth (y-o-y) (7.6)
company with RBI. TMFL provides vehicle registered with RBI making it a wholly owned NP Growth (y-o-y) (47.1)
finance including passenger and commercial subsidiary of TMFL.
NPM 3.8
vehicles which are manufactured by TML. In
(As on Mar 31, 2016)

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Tata Motors Finance Solutions Limited

10th Floor, 106 A & B, Maker Chambers III, Nariman Point, Mumbai - 400021, Maharashtra

Business Profile companys manufacturer guaranteed business Dun & Bradstreet D-U-N-S No 86-031-2389
Tata Motors Finance Solutions Ltd (TMFSL) is and its book and used vehicle finance business Financials (` mn)
registered NBFC with RBI since December 2003. and its book.
Total Income 6,341.9
In January 2015, the company became a wholly
owned subsidiary of Tata Motor Finance Ltd Net Profit 77.2
and subsequently on June 2015, the company Growth and Profitability (%)
was changed from private limited company to
public limited company. The company disbursed TI Growth (y-o-y) 3,170,850.0
under refinances ` 1.5 bn during FY16. In March NP Growth (y-o-y) (126.4)
2015, as a part of the business restructuring of
NPM 1.2
Tata Motors Finance Limited, it acquired the
(As on Mar 31, 2016)

Tourism Finance Corporation of India Limited

IFCI Tower, 61 Nehru Place, New Delhi - 110019, Delhi
Website: www.tfciltd.com

Business Profile
Tourism Finance Corporation of India Ltd (TFCI)
incorporated in 1989, is a financial institution
promoted by IFCI Ltd, banks and entities of All
India Financial Institutions. TFCI is a specialised
financial institution registered as non banking
financial company (NBFCND-SI) with RBI.
TFCIs business activities include supporting
tourism infrastructure in the country by
providing financial assistance on long term
basis to tourism related projects. TFCIs loan
products include rupee loan, subscription to Dun & Bradstreet D-U-N-S No 91-562-8913
equity, debentures and corporate loans to Financials (` mn)
hotel projects, amusement parks, ropeways,
Total Income 1,856.5
multiplexes, restaurants amongst others. The
company has diversified its business within Net Profit 536.1
the scope of its activities to include financing Growth and Profitability (%)
infrastructure, real estate and construction
projects. During FY16 the company totally TI Growth (y-o-y) (1.3)
disbursed ` 4479.1 mn loans which include NP Growth (y-o-y) (10.9)
` 3805.6 mn were for projects and ` 673.5 mn
NPM 28.9
towards investments in mutual funds.
(As on Mar 31, 2016)

Ujjivan Financial Services Limited

Grape Garden, 3rd A Cross, 6th Block, Koramangala, Bengaluru - 560095, Karnataka
Website: www.ujjivan.com

Business Profile agriculture & allied loan, emergency loan and Dun & Bradstreet D-U-N-S No 67-594-2533
Ujjivan Financial Services Ltd (Ujjivan), erstwhile education loan; while individual loans include; Financials (` mn)
Ujjivan Financial Services Pvt Ltd, commenced home improvement loan, higher education loan,
Total Income 10,276.1
operations in 2005 as a NBFC. It got listed individual agriculture loan, secured business
on BSE and NSE in May 2016 and acquired loan and livestock loan. As per its FY16 annual Net Profit 1,772.2
its present name. Ujjivan is a microfinance report, its network comprised of 469 branches Growth and Profitability (%)
institution which provides financial services to in 24 states & UTs, catering to over three million
economically active poor customers. Ujjivan customers. During the same period, its group TI Growth (y-o-y) 67.9
operates under two categories namely; group loans segment accounted for nearly 88% of its NP Growth (y-o-y) 133.8
loans and individual loans. The group loans overall lending portfolio.
NPM 17.2
segment offers business loan, family loan,
(As on Mar 31, 2016)

Vistaar Financial Services Private Limited

Plot No 59 & 60- 23,22nd Cross, 29th Main, BTM 2nd Stage, Bengaluru - 560076, Karnataka
Website: www.vistaarfinance.com

Business Profile small businesses. As of FY16, 78% of Women Dun & Bradstreet D-U-N-S No 86-031-2390
Vistaar Financial Services Pvt Ltd (Vistaar) was entrepreneurs and 97% small businesses Financials (` mn)
incorporated in April 2010 with its presence from rural & semi-urban areas. The company
Total Income 1,940.5
in Karnataka and Tamil Nadu. In FY12, the disbursed ` 6 bn in FY16 as compared to ` 4.3
company launched small business mortgage bn in FY15. As of March 31 2016, the company Net Profit 249.2
loans and small business Hypothecation Loans. had 198 branches spread across 12 states. Growth and Profitability (%)
In FY16, Vistaar launched two new products
bill discounting and equipment finance. Vistaar TI Growth (y-o-y) 78.9
supported around 79, 000 business in FY16 NP Growth (y-o-y) 75.6
against 55,000 business in FY15. Till FY16,
NPM 12.8
the company has financed nearly 125,000
(As on Mar 31, 2016)

79
Indias Leading BFSI Companies 2017

Weizmann Forex Limited

Empire House, 214, Dr D. N. Road, Ent. A. K. Nayak Marg, Fort, Mumbai - 400001, Maharashtra
Website: www.weizmannforex.com

Business Profile companies. As on Mar 31, 2016 WFL had a sub Dun & Bradstreet D-U-N-S No 91-848-1508
Weizmann Forex Ltd (WFL) incorporated in agency network of more than 53,000 outlets Financials (` mn)
1985 is a Principal Agent of Western Union across the country which included nearly 40
Total Income 47,889.7
Financial Services, USA (WU) for transferring banks - private and PSU, almost 30 financial
money and registered with RBI as an Authorized institutions and 10,000 retail agents. During Net Profit 218.7
Dealer category II for its core business of DY16 WFLs money transfer business activity Growth and Profitability (%)
money changing. WFL also provides services garnered total income of ` 1133.8 mn while
in the travel, tourism, telecom and insurance its money changing activitys turnover stood at TI Growth (y-o-y) 7.2
segments. It supports the development of green ` 46.51 bn during the year. NP Growth (y-o-y) 17.4
energy directly through its associate companies
NPM 0.5
and indirectly invests through special purpose
(As on Mar 31, 2016)

xyz
xyz

Business Profile Dun & Bradstreet D-U-N-S No 00-000-0000

xyz Financials (` mn)
Total Income
Net Profit
Growth and Profitability (%)
TI Growth (y-o-y)
NP Growth (y-o-y)
NPM
(As on Mar 31, 2016)

xyz
xyz

Business Profile Dun & Bradstreet D-U-N-S No 00-000-0000

xyz Financials (` mn)
Total Income
Net Profit
Growth and Profitability (%)
TI Growth (y-o-y)
NP Growth (y-o-y)
NPM
(As on Mar 31, 2016)

xyz
xyz

Business Profile Dun & Bradstreet D-U-N-S No 00-000-0000

xyz Financials (` mn)
Total Income
Net Profit
Growth and Profitability (%)
TI Growth (y-o-y)
NP Growth (y-o-y)
NPM
(As on Mar 31, 2016)

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Indias Leading BFSI Companies 2017

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82
Indias Leading BFSI Companies 2017 Total Income Listing 85

Indias Leading BFSI Companies 2017

Sr No Company Name Total Income (` mn)

1 ICICI Securities Limited 11,235.6

2 Kotak Securities Limited 9,745.7

3 Axis Securities Limited 5,618.9

4 Motilal Oswal Securities Limited 5,505.1

5 India Infoline Limited 4,819.2

6 Edelweiss Securities Limited 4,168.9

7 HDFC Securities Limited 4,016.0

8 Axis Capital Limited 3,541.3

9 Geojit Financial Services Limited 2,363.7

10 SMC Global Securities Limited 2,290.0

11 Edelweiss Broking Limited 1,641.0

12 Reliance Securities Limited 1,415.3

13 Aditya Birla Money Limited 1,183.8

14 Indiabulls Ventures Limited 1,045.2

15 Emkay Global Financial Services Limited 950.6

16 Religare Capital Markets Limited 620.6

17 BLB Limited 616.8

18 IDFC Securities Limited 543.2

19 SHCIL Services Limited 384.7

Indias Leading BFSI Companies 2017

Aditya Birla Money Limited

Indian Rayon Compound, Veraval - 362266, Gujarat
Website: www.adityabirlamoney.com

Business Profile on MCX and NCDEX through its subsidiary Dun & Bradstreet D-U-N-S No 65-093-1053
Aditya Birla Money Ltd (Aditya Birla Money) company, Aditya Birla Commodities Broking Ltd. Financials (` mn)
formerly known as Apollo Sindhoori Capital Further, it is engaged in wealth management
Total Income 1,183.8
Investments was incorporated in 2000. In 2009, and distribution of third party products like
the company became part of Aditya Birla Group company deposits, MFs, insurance, structured Net Profit 12.0
and diversified its operations into broking products, alternate investments, and property Growth and Profitability (%)
business. The company deals into equity and services through Aditya Birla Money Mart Ltd.
derivatives market through BSE and NSE and The company operates a PAN India network of TI Growth (y-o-y) (0.3)
in currency derivatives through MSEI. Aditya more than 1,000 self - owned and franchisee NP Growth (y-o-y) (83.1)
Birla Money is registered as a DP with NSDL branches.
NPM 1.0
and CDSL. It also provides commodity trading
(As on Mar 31, 2016)

Axis Capital Limited

Axis House, C Wing, C-2 Wadia International Centre, Worli, Mumbai - 400025, Maharashtra
Website: www.axiscapital.co.in

Business Profile financing, PE among others. Under investment Dun & Bradstreet D-U-N-S No 86-024-4943
Axis Capital Ltd (Axis Capital), a subsidiary of solutions, it mainly offers equity, fixed income Financials (` mn)
Axis Bank Ltd, was formerly known as Enam and alternate products such as MFs, bonds,
Total Income 3,541.3
Securities Pvt Ltd. Axis Capital is engaged in FDs, PMS, real estate among others. As per
three lines of businesses namely; investment the annual report for FY16, the institutional Net Profit 1,275.8
banking, institutional broking, and investment equities business of the company added 10 new Growth and Profitability (%)
solutions. Under institutional broking business, accounts; while investment banking business
it caters to Financial Institutions, MFs, FIIs completed 74 transactions. TI Growth (y-o-y) 10.9
and HNIs. The investment banking business is NP Growth (y-o-y) 18.2
involved in advisory, buy-backs, blocks, delisting,
NPM 36.0
IPOs, M&A, QIP, rights offerings/structured
(As on Mar 31, 2016)

Axis Securities Limited

Axis House, 8th Floor, Wadia International Centre Pandurang Budhkar Marg, Worli Mumbai Mumbai City MH 400025 IN
Website: www.axissecurities.in

Business Profile investment services under the brand name Dun & Bradstreet D-U-N-S No 65-072-5463
Axis Securities Ltd (ASL), a part of the Axis AxisDirect. As per the company annual report, Financials (` mn)
Group, was incorporated in 2006. The company customer acquisition in FY16 stood at 3.17 lacs
Total Income 5,618.9
is engaged in offering a wide spectrum of as compared to 2.38 lacs in the previous year.
financial solutions as distributors of Axis During the same period, it contributed more Net Profit 356.8
Banks products. Some of its offerings include; than 60% to the overall retail assets business Growth and Profitability (%)
equities, derivatives, SIPs, NCDs, Bonds And of Axis Bank Ltd and operated more than 80
Company FDs, IPOs, MFs, ETFs and tax planning branches across the country in 2016. TI Growth (y-o-y) 23.5
among others. It has memberships of the cash NP Growth (y-o-y) (19.0)
and derivative market segments of BSE, NSE
NPM 6.3
and MSEI. ASL offers retail broking and other
(As on Mar 31, 2016)

BLB Limited
SCO No. 22, Spring Field Colony Extn No. 1, Near Sector 31-32, Faridabad - 121003, Haryana
Website: www.blblimited.com

Business Profile trading segments through subsidiary Dun & Bradstreet D-U-N-S No 86-031-2360
BLB Ltd (BLB), the flagship company of BLB companies. Its subsidiary, BLB Commodities Financials (` mn)
Group is one of the leading broking houses Ltd offers commodity trading services. It holds
Total Income 616.8
catering to the equity and derivative markets membership under MCX, NCDX, and NSEL for
in India. BLB was incorporated in 1981 and is commodity trading. Net Profit 7.6
listed on both the NSE and BSE and also holds Growth and Profitability (%)
membership of MSEI. The company has been
a specialist in Jobbing & Arbitrage services, TI Growth (y-o-y) (79.5)
offering microsecond arbitrage, high frequency NP Growth (y-o-y) 1.3
trading and investments. It has diversified
NPM 1.2
business interests in real estate and commodity
(As on Mar 31, 2016)

86
 Indias Leading BFSI Companies 2017

Edelweiss Broking Limited

Edelweiss House, Off C.S.T. Road, Kalina, Mumbai - 400098, Maharashtra
Website: www.edelweiss.in

Business Profile products like mutual funds, equity cash, equity Dun & Bradstreet D-U-N-S No 65-075-8118
Edelweiss Broking Limited (Edelweiss Broking) derivatives, currency derivatives, commodity Financials (` mn)
is a subsidiary of Edelweiss Financial Services derivatives and fixed income.
Total Income 1,641.0
Ltd. It started its broking business in 2008, and
acquired BSE membership in 2015, and also Net Profit 134.4
a member of MCX Stock Exchange Ltd. The Growth and Profitability (%)
company operates in equity, derivatives, mutual
fund and currency derivatives since it started its TI Growth (y-o-y) 15.1
broking business. The company also acts as a NP Growth (y-o-y) 117.5
DP with NSDL activity under the same entity. It
NPM 8.2
offers products such as distribution of financial
(As on Mar 31, 2016)

Edelweiss Securities Limited

MB Towers, 2nd Floor, Plot No. 5, Road No. 2, Banjara Hills, Hyderabad - 500034, AP
Website: www.edelweissfin.com

Business Profile of BSE. The company also has membership in Dun & Bradstreet D-U-N-S No 85-895-0428
Edelweiss Securities Ltd (Edelweiss), a Mumbai NSE currency F&O market segment. It also acts Financials (` mn)
based stock broking firm, is a part of Edelweiss as a DP with CDSL. The company facilitates
Total Income 4,168.9
Group. The company operates in equity cash commodity trading through its associate entity,
market, equity derivatives, currency futures and Edelweiss Commodities Services Ltd which is a Net Profit 150.9
debt market segments. Other services offered member of MCX and NCDEX. Growth and Profitability (%)
by the company includes demat services,
research services, and distribution of financial TI Growth (y-o-y) 3.9
products like mutual funds, IPO amongst others. NP Growth (y-o-y) (22.5)
Edelweiss has membership in equity cash and
NPM 3.6
derivative segments of NSE and in cash segment
(As on Mar 31, 2016)

Emkay Global Financial Services Limited

7th Floor, The Ruby Tower, Senapati Bapat Marg, Dadar (W), Mumbai - 400028, Maharashtra
Website: www.emkayglobal.com

Business Profile company is a registered DP with CDSL for Dun & Bradstreet D-U-N-S No 85-955-4980
Emkay Global Financial Services Ltd (Emkay providing depository services. Emkay Global Financials (` mn)
Global) was incorporated in 1996 and was listed caters to both institutional and non-institutional
Total Income 950.6
in the year 2006. The company is a member of clients through its wide spread network of more
cash and derivative market segments of both the than 241 outlets across the country. As per the Net Profit 98.1
NSE and BSE. Emkay Global operates through FY16 annual report, its client base stood at Growth and Profitability (%)
five different verticals namely institutional 270 institutional and 105,593 non-institutional
equities, wealth management, PMS, investment clients; while active DP accounts stood at TI Growth (y-o-y) (8.4)
banking and insurance business. Additionally, it 86553. NP Growth (y-o-y) (38.5)
also offers commodities, currency derivatives,
NPM 10.3
insurance and retail broking services. The
(As on Mar 31, 2016)

Geojit Financial Services Limited

34 / 659 - P, Civil Line Road, Padivattom, Kochi - 682024, Kerala
Website: www.geojit.com

Business Profile services through its group firm Geofin Comtrade Dun & Bradstreet D-U-N-S No 65-075-8126
Geojit Financial Services Ltd (Geojit) started Ltd. Geojit acts as a DP with NSDL and CDSL to Financials (` mn)
its broking business in 2009. The products provide demat services to their clients. As per
Total Income 2,363.7
and services offered by the company include; the annual report, the company had 511 offices
equities, derivatives, currency futures, margin with new client enrolment reaching to 94,600 in Net Profit 356.0
trading, PMS, custody accounts, MF, property FY16. During the same period, it acquired more Growth and Profitability (%)
services, IPOs, life & general Insurance and than 82,000 depository accounts.
third party fixed deposits among others. It TI Growth (y-o-y) (18.3)
has partnership with Bajaj Alliance General NP Growth (y-o-y) (47.3)
Insurance Company for general insurance
NPM 15.1
business. It also provides commodity trading
(As on Mar 31, 2016)

87
Indias Leading BFSI Companies 2017

HDFC Securities Limited

8th Flr, Building - B, I Think Techno Campus, Kanjurmarg, Mumbai - 400042, Maharashtra
Website: www.hdfcsec.com

Business Profile also offers a bouquet of value added services Dun & Bradstreet D-U-N-S No 65-051-7506
HDFC Securities Ltd (HDFC Securities) including; SMS Insta, BLINK, Knowledge center, Financials (` mn)
incorporated in 2000, is a subsidiary of e-Tax filing, credila and e-Will among others.
Total Income 4,016.0
HDFC Bank. The company is one of a leading The company caters to a diverse customer base
financial service provider operating in cash of retail and institutional investors. As per the Net Profit 1,333.4
and derivative segments of both the NSE and FY16 annual report, the company operated Growth and Profitability (%)
BSE. The company also operates into various through a network of 262 branches across 189
segments such as equity & IPO, MFs, F&O, cities in the country. TI Growth (y-o-y) (3.7)
currency derivatives, national pension system, NP Growth (y-o-y) (19.2)
NRI offerings, PMS, insurance, FDs & bonds,
NPM 33.2
loans and realty among others. In addition, it
(As on Mar 31, 2016)

ICICI Securities Limited

ICICI Centre, H. T. Parekh Marg, Churchgate, Mumbai - 400020, Maharashtra
Website: www.icicisecurities.com

Business Profile other value added services including; fixed Dun & Bradstreet D-U-N-S No 67-624-3548
ICICI Securities Ltd (ICICI Securities), deposits, loans, tax services, new pension Financials (` mn)
incorporated in 1995, is a wholly owned systems and insurance. The company has retail
Total Income 11,235.6
subsidiary of ICICI Bank. The company offers customer account base of over 4 mn with pan-
a wide range of services including investment India distribution networks of over 200 stores Net Profit 2,357.4
banking, institutional broking, retail broking, spread across 66 cities & towns in India. Some Growth and Profitability (%)
private wealth management, and financial of the new initiatives launched by the company
product distribution. It is a member of cash in FY16 include; Insta Account, Bullet Trade and TI Growth (y-o-y) (7.1)
and derivative markets of NSE and BSE. ICICI Track & Act among others. NP Growth (y-o-y) (3.4)
Securities retail product portfolio includes
NPM 21.0
equity, derivatives, currency futures, MFs, and
(As on Mar 31, 2016)

IDFC Securities Limited

Naman Chambers, C-32, G-Block, BKC, Bandra (East), Mumbai - 400051, Maharashtra
Website: www.idfc.com

Business Profile also operates in the private equity syndication Dun & Bradstreet D-U-N-S No 91-657-8861
IDFC Securities Ltd (IDFC Securities) is an and M&A businesses. It also offers customized Financials (` mn)
investment banking division of IDFC Ltd and was financial advisory and solutions. The company
Total Income 543.2
incorporated in 1993. The company operates in caters to over 1,800 entities/funds across
the cash and derivative segments of both NSE geographies, which include major FIIs, Insurance Net Profit 148.5
and BSE. It is also registered as a Category 1 companies, Mutual Funds, Hedge Funds, Private Growth and Profitability (%)
merchant banker with SEBI, assisting clients Equity Funds and Banks.
in IPOs, Follow-On Public Offerings, Rights TI Growth (y-o-y) (28.6)
Issues, Qualified Institutional Placements, NP Growth (y-o-y) (64.5)
Preferential Allotments, AIM Listings, Foreign
NPM 27.3
Currency Convertible Bonds and GDR issues. It
(As on Mar 31, 2016)

India Infoline Limited

IIFL House, Sun Infotech Park, Road No. 16V, Plot No B-23, MIDC, Thane Industrial Area, Wagle Estate, Thane - 400604, Maharashtra
Website: www.indiainfoline.com

Business Profile like mutual funds and IPO among others. Dun & Bradstreet D-U-N-S No 65-099-6569
India Infoline Ltd (India Infoline), a part of IIFL The company facilitates commodity broking Financials (` mn)
Group was incorporated in the year 2000. through India Infoline Commodities Ltd which is
Total Income 4,819.2
India Infoline has membership in the cash and a member of MCX and NCDEX.
derivative segments of both the NSE and BSE. Net Profit 468.0
The company acts as a DP with NSDL and CDSL. Growth and Profitability (%)
Besides trading in equity and derivatives, the
company offers basket of products such as TI Growth (y-o-y) (11.7)
debt, currency derivatives, merchant banking, NP Growth (y-o-y) (34.1)
portfolio management services, research
NPM 9.7
services and distribution of financial products
(As on Mar 31, 2016)

88
 Indias Leading BFSI Companies 2017

Indiabulls Ventures Limited

M- 62 & 63, First Floor, Connaught Place, New Delhi 110001
Website: www.securities.indiabulls.com

Business Profile SX and is also a registered portfolio manager. Dun & Bradstreet D-U-N-S No 65-091-4216
Indiabulls Ventures Ltd (IBVL), formerly known The company is engaged in the business of Financials (` mn)
as Indiabulls Securities Ltd (IBSL), received a stock and share broking, commodities trading,
Total Income 1,045.2
certificate of registration from SEBI in Feb 1996 depository service, distribution of MFs/IPOs,
to carry on business as a stock broker. In Apr other investments, tax planning products. It is a Net Profit 168.7
2008, IBVLs equity shares were listed on the registered depository participant with the NSDL Growth and Profitability (%)
NSE and BSE after the demerger from Indiabulls and CDSL.
Financial Services Ltd. The name of the company TI Growth (y-o-y) (48.5)
was changed from IBSL to IBVL in Mar 2015. NP Growth (y-o-y) (85.7)
IBVL is a corporate member of the capital and
NPM 16.1
derivative segment of the NSE, BSE and the MCX-
(As on Mar 31, 2016)

Kotak Securities Limited

C-27, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra
Website: www.kotaksecurities.com

Business Profile in stock market, investing in IPOs, mutual funds, Dun & Bradstreet D-U-N-S No 65-082-9828
Kotak Securities Ltd (Kotak Securities), a gold ETFs, IRFs, SLB and currency derivatives. Financials (` mn)
subsidiary of Kotak Mahindra Bank, was As per its annual report for FY16, the company
Total Income 9,745.7
incorporated in 1994. Kotak Securities is a operated through a network of 1209 outlets;
member of cash and derivative market of NSE, while the number of registered sub brokers/ Net Profit 2,506.6
BSE and MSEI. The company is a registered authorized persons stood at 2,013 for NSE and Growth and Profitability (%)
depository participant with CDSL and NSDL 1,556 for BSE.
and is also a registered portfolio manager with TI Growth (y-o-y) 1.5
SEBI. It also acts as a corporate agent of Kotak NP Growth (y-o-y) (13.4)
Mahindra Old Mutual Life Insurance Ltd. It
NPM 25.7
offers a wide range of products such as trading
(As on Mar 31, 2016)

Motilal Oswal Securities Limited

Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai-400025
Website: www.motilaloswal.com

Business Profile distribution, distribution of third party products, Dun & Bradstreet D-U-N-S No 87-179-7621
Motilal Oswal Securities Ltd (MOSL) is a PMS, research and advisory among others. Financials (` mn)
subsidiary of Motilal Oswal Financial Services
Total Income 5,505.1
Ltd which was set up in 1987. MOSL with
its subsidiaries offers a range of financial Net Profit 605.5
products and services such as private wealth Growth and Profitability (%)
management, retail broking and distribution,
institutional broking, asset management, TI Growth (y-o-y) 1.5
investment banking, PE, commodity broking NP Growth (y-o-y) (44.0)
and principal strategy services. It offers a range
NPM 11.0
of products and services such as broking and
(As on Mar 31, 2016)

Reliance Securities Limited

11h Floor, R-Tech Park, Nirlon Compound, W E Highway, Goregaon (East), Mumbai - 400063, Maharashtra
Website: www.rsec.co.in

Business Profile services. It also offers secure online trading Dun & Bradstreet D-U-N-S No 87-181-1598
Reliance Securities Ltd (Reliance Securities) is platforms such as Insta Plus and Insta Xpress Financials (` mn)
the broking arm of Reliance Capital. Reliance along with equity research. The company has
Total Income 1,415.3
Securities operates in cash and derivative various brokerage plans like RFixed, Rmaz and
segments of both the NSE and BSE as well as in RFlexi. Reliance Securities also offers wealth Net Profit (745.9)
the currency segment of NSE and MCX-SX. The management and PMS. Reliance Securities Growth and Profitability (%)
company also acts as a DP with CDSL and NSDL. caters to more than 800,000 customers; having
It provides a variety of products like trading a network with over 1000 offices across India. TI Growth (y-o-y) (3.3)
in equity, derivatives and currency markets, NP Growth (y-o-y) 366.2
investment in mutual funds, IPOs, NCDs/Bonds,
NPM (52.7)
Qualified Foreign Investment (QFI) and NRI
(As on Mar 31, 2016)

89
Indias Leading BFSI Companies 2017

Religare Capital Markets Limited

D3, P3B, District Centre, Saket, New Delhi - 110017, Delhi
Website: www.religarecm.com

Business Profile sales and execution in emerging market equities. Dun & Bradstreet D-U-N-S No 86-031-2384
Religare Capital Markets Ltd (RCML), a The company has presence in several emerging Financials (` mn)
subsidiary of Religare Enterprises Ltd, was markets and global financial centres such as
Total Income 620.6
incorporated in Feb 2007. RCML is a licensed Singapore, Hong Kong and London through its
broker and a full service investment banker. The subsidiary companies. The company caters to Net Profit (106.1)
company operates in the cash and derivative over 450 institutional investors with an active Growth and Profitability (%)
segments of both NSE and BSE. Its range of coverage of over 150 stocks across 16 sectors.
services under investment banking include TI Growth (y-o-y) 25.6
equity capital markets, corporate finance and NP Growth (y-o-y) (32.2)
private financing services; while its institutional
NPM (17.1)
equities operations include equity research,
(As on Mar 31, 2016)

SHCIL Services Limited

SHCIL House, Plot No.P-51, TTC Industrial Area, MIDC, Mahape, Navi Mumbai - 400710, Maharashtra
Website: www.shcilservices.com

Business Profile mutual funds, insurance companies, banks and Dun & Bradstreet D-U-N-S No 86-379-3874
SHCIL Services Ltd (SSL), incorporated in 1995, other financial institutions. Financials (` mn)
is a broking arm of Stock Holding Corporation
Total Income 384.7
of India Ltd (SHCIL) and has been engaged in
the business of broking and advisory services Net Profit 60.1
since 2006. As of Mar 2014, SSL is a subsidiary Growth and Profitability (%)
of IFCI Ltd. The company offers services in cash
and F&O segments of BSE and NSE and currency TI Growth (y-o-y) (18.6)
derivatives segments of NSE. It has works in NP Growth (y-o-y) (33.3)
institutional segments comprising of leading
NPM 15.6
domestic institutional investors, including
(As on Mar 31, 2016)

SMC Global Securities Limited

11/6B, Shanti Chamber, Pusa Road, New Delhi 110005, Delhi
Website: www.smcindiaonline.com

Business Profile MFs, bonds, FDs and IPOs among others. SMC Dun & Bradstreet D-U-N-S No 85-835-9949
SMC Global Securities Ltd (SMC) was established also provides services like research, financing, Financials (` mn)
in the year 1990. SMC is the member of NSE, depository services, insurance broking and
Total Income 2,290.0
BSE and the MCX-SX in cash and derivative clearing services and real estate advisory
segments. The company is a registered services. It services its clients through a Net Profit 86.0
depository participant (DP) of both CDSL and network of more than 2400 sub-brokers and Growth and Profitability (%)
NSDL. It offers a wide range of financial services authorised persons across 550+ cities including
which includes; trading in cash and derivatives, overseas presence in Dubai, New York, Atlanta TI Growth (y-o-y) (5.2)
commodities and currency as well as investment & Orlando. NP Growth (y-o-y) (60.1)
banking, wealth management, distribution of
NPM 3.8
third party financial products such as insurance,
(As on Mar 31, 2016)

xyz
xyz

Business Profile Dun & Bradstreet D-U-N-S No 00-000-0000

xyz Financials (` mn)
Total Income
Net Profit
Growth and Profitability (%)
TI Growth (y-o-y)
NP Growth (y-o-y)
NPM
(As on Mar 31, 2016)

90
 Indias Leading BFSI Companies 2017

Dun & Bradstreet D-U-N-S No

Bajaj Allianz General Insurance
Bajaj Allianz General Insurance
Company Limited is a joint venture
between Allianz SE, the worlds
leading insurer and asset manager,
and Bajaj Finserv Limited, one of
Indias largest and most diversified
non-bank financial institution. The
company received its certificate
of registration from IRDA on 2nd
May 2001 to conduct general
insurance business in India.
Bajaj Allianz General Insurance,
Financials (` mn)
Total Income
Net Profit
and customer service levels, Bajaj prudent underwriting norms, risk
Growth and Profitability (%)
Allianz has received iAAA rating based pricing and sound financial
TI Growth (y-o-y)
from ICRA for 11 consecutive years, position.
NP Growth (y-o-y)
which indicates the companys NPM
highest claims paying ability and a Bajaj
(As on MarAllianz
31, 2016) General Insurance
fundamentally strong position. has embraced on digitalization
as a primary enabler and has
The company has a strong focus been working continuously on
on customer centricity, and aims automation and digitization of
at delivering superior value with its
Dunservice offerings.
& Bradstreet D-U-N-S ItNo offers real
an excellent and caring experience time solution to its(`customers
Financials mn) and
for the customer. Today, the partners
Total Income via mobile applications
company is taking its relationships and dedicated portals. Several of
Net Profit

today, is one of the largest private with the customers beyond the companys initiatives,
Growth and Profitability (%) such
insurers in the industry, with insurance, by offering them a as cashless claim settlements, in-
TI Growth (y-o-y)

physical and virtual offices in plethora of value added services house

NP Growth Health
(y-o-y) Administration Team

over 1,000 towns and cities. The
company has been constantly
expanding its operations to reach
out to its customers.
Bajaj Allianz General Insurance
caters to individuals across Indias
demographics and the corporate
sector with its wide range of
products and services that go
beyond insurance. The company
is not only bringing insurance
solutions to the customers
doorstep, but also improving
insurance penetration, with its
advanced digital and mobile
applications. Today, through its
digital offices, it has reached out
to 800 new Tier-II and Tier-III towns
across India. It is also growing
the footprint of personal lines of
insurance through its All Women
beyond insurance. It is a one stop
shop for a customers day-to-day
concerns.
The company reaffirmed its strong
financial position in the industry by
being the most profitable private
insurer in the industry in FY16. The
company posted profit after tax of
` 564 crore, despite huge claims
due to the Chennai floods. The
turnover for the period stood at
` 5,901 crore.
The company is the only insurer in
the industry to have posted profits
consistently since its inception in
2001. Bajaj Allianz also reported a
healthy Combined Ratio of 99.3%,
the only insurer in the GI industry
to have posted a combined
ratio of below 100%. This can
(HAT) and image-based policy as
NPM
(As on Mar 31, 2016)
well as claim processing, digital
offices and mobile applications
such as Eezee Tab and Insurance
Wallet by Bajaj Allianz have
benchmarks in the industry. It
Dun & Bradstreet D-U-N-S No
is the first insurance company
Financials (` mn)
in the country to have laid the
Total Income
foundation for usage-based
Net Profit
insurance through its telematics
Growth and Profitability (%)
offering, Drive Smart.
TI Growth (y-o-y)
NP Growth (y-o-y)
NPM
(As on Mar 31, 2016)
Dun & Bradstreet D-U-N-S No
Financials (` mn)
Total Income
Net Profit

branches. Known for its claim be attributed to the companys Growth and Profitability (%)
TI Growth (y-o-y)
NP Growth (y-o-y)
NPM
(As on Mar 31, 2016)

91
Indias Leading BFSI Companies 2017

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Profit
Growth and Profitability (%)
TI Growth (y-o-y)
NP Growth (y-o-y)
NPM
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Profit
Growth and Profitability (%)
TI Growth (y-o-y)
NP Growth (y-o-y)
NPM
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Profit
Growth and Profitability (%)
TI Growth (y-o-y)
NP Growth (y-o-y)
NPM
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Profit
Growth and Profitability (%)
TI Growth (y-o-y)
NP Growth (y-o-y)
NPM
(As on Mar 31, 2016)

92
Indias Leading BFSI Companies 2017 Total Income Listing 95

Indias Leading BFSI Companies 2017

Sr No Company Name Total Income (` mn)

1 HDFC Asset Management Company Limited 14,943.4

2 Reliance Nippon Life Asset Management Limited 12,710.1

3 ICICI Prudential Asset Management Company Limited 10,123.6

4 Birla Sun Life Asset Management Company Limited 7,565.4

5 UTI Asset Management Company Limited 7,495.8

6 SBI Funds Management Private Limited 5,524.0

7 DSP BlackRock Investment Managers Private Limited 3,867.3

8 Axis Asset Management Company Limited 3,805.4

9 IDFC Asset Management Company Limited 3,255.9

10 L&T Investment Management Limited 2,491.7

11 Kotak Mahindra Asset Management Company Limited 2,399.5

12 Sundaram Asset Management Company Limited 2,298.8

13 Motilal Oswal Asset Management Company Limited 1,850.5

14 Tata Asset Management Limited 1,443.4

15 Invesco Asset Management (India) Private Limited 998.5

16 HSBC Asset Management (India) Private Limited 935.0

17 JM Financial Asset Management Limited 856.1

18 Canara Robeco Asset Management Company Limited 843.4

19 BNP Paribas Asset Management India Private Limited 778.5

20 IDBI Asset Management Limited 471.6

21 LIC Mutual Fund Asset Management Limited 419.0

22 Mirae Asset Global Investments (India) Private Limited 409.7

23 Principal Pnb Asset Management Company Private Limited 390.3

24 Baroda Pioneer Asset Management Company Limited 380.6

Indias Leading BFSI Companies 2017 AAUM Listing 97

Indias Leading BFSI Companies 2017

Sr No Company Name *AAUM (` mn)

1 HDFC Asset Management Company Limited 1,760,845.6

2 ICICI Prudential Asset Management Company Limited 1,759,639.8

3 Reliance Nippon Life Asset Management Limited 1,593,694.9

4 Birla Sun Life Asset Management Company Limited 1,367,851.1

5 SBI Funds Management Private Limited 1,073,273.7

6 UTI Asset Management Company Limited 1,063,092.2

7 Kotak Mahindra Asset Management Company Limited 587,310.8

8 IDFC Asset Management Company Limited 522,837.9

9 DSP BlackRock Investment Managers Private Limited 401,513.1

10 Axis Asset Management Company Limited 377,645.4

11 Tata Asset Management Limited 318,622.3

12 L&T Investment Management Limited 259,448.0

13 Sundaram Asset Management Company Limited 236,637.1

14 Invesco Asset Management (India) Private Limited 195,961.8

15 JM Financial Asset Management Limited 161,609.0

16 LIC Mutual Fund Asset Management Limited 131,556.2

17 Baroda Pioneer Asset Management Company Limited 96,563.0

18 Canara Robeco Asset Management Company Limited 80,432.7

19 HSBC Asset Management (India) Private Limited 79,038.2

20 IDBI Asset Management Limited 68,926.6

21 Principal Pnb Asset Management Company Private Limited 52,810.6

22 BNP Paribas Asset Management India Private Limited 50,970.7

23 Motilal Oswal Asset Management Company Limited 46,892.1

24 Mirae Asset Global Investments (India) Private Limited 31,327.2

Note
*AAUM - Average Assets Under Management for the quarter ended March 2016
Source: Association of Mutual Funds in India (AMFI)
Indias Leading BFSI Companies 2017

Axis Asset Management Company Limited

1st Flr, Axis House, C-2, Wadia International Centre, Worli, Mumbai - 400025, Maharashtra
Website: www.axismf.com

Business Profile Year Fund, Axis Treasury Advantage Fund, Axis Dun & Bradstreet D-U-N-S No 85-904-1707
Axis Asset Management Company Ltd (Axis AMC) Long Term Equity Fund, Axis Enhanced Arbitrage Financial Performance (` mn)
was incorporated in Jan 2009 and launched its Fund, Axis Liquid Fund, and Axis Income Fund. Total Income 3,805.4
first scheme in Oct 2009. Axis AMC acts as an The companys product suite consisted of
Net Profit 316.3
investment manager of Axis Mutual Fund. It 49 schemes and a presence in over 75 cities,
offers a wide range of products across equity catering to over 1.35 mn investor accounts. NPM (%) 8.3
funds, fixed income funds, hybrid funds and AAUM (Q1) 284,532.1
gold funds. As on 31st January 2017, some of AAUM (Q2) 318,691.9
the schemes offered include, Axis Equity Fund,
AAUM (Q3) 345,634.9
Axis Mid Cap Fund, Axis Focused 25 Fund, Axis
Dynamic Bond Fund, Axis Constant Maturity 10 AAUM (Q4) 377,645.4
(As on Mar 31, 2016)

Baroda Pioneer Asset Management Company Limited

501, Titanium, Western Express Highway, Goregaon (E), Mumbai - 400063, Maharashtra
Website: www.barodapioneer.in

Business Profile Income Fund, Baroda Pioneer Gilt Fund, Baroda Dun & Bradstreet D-U-N-S No 67-767-8581
Baroda Pioneer Asset Management Company Pioneer Dynamic Bond Fund, Baroda Pioneer Financial Performance (` mn)
Ltd (Baroda Pioneer AMC) was incorporated in Mid-Cap Fund, Baroda Pioneer Large-Cap Fund, Total Income 380.6
1992. In June 2008, Baroda Pioneer AMC entered Baroda Pioneer Balance Fund, Baroda Pioneer
Net Profit (49.3)
into a JV with Italy based, Pioneer Global Asset Growth Fund, and Baroda Pioneer Banking and
Management S.p.A. The company acts as an Financial Services Fund among others. NPM (%) (13.0)
investment manager to Baroda Pioneer Mutual AAUM (Q1) 72,246.5
Fund.It provides a host of equity, debt income AAUM (Q2) 95,317.9
and liquid schemes. As of 31st January 2017,
AAUM (Q3) 92,554.2
some of its offerings include; Baroda Pioneer
Treasury Advantage Fund, Baroda Pioneer AAUM (Q4) 96,563.0
(As on Mar 31, 2016)

Birla Sun Life Asset Management Company Limited

One India Bulls Centre, 17th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013, Maharashtra
Website: www.birlasunlife.com

Business Profile under wealth creation, tax savings, savings and Dun & Bradstreet D-U-N-S No 87-180-0836
Birla Sun Life Asset Management Company regular income. BSLAMC also provides cash Financial Performance (` mn)
Ltd (BSLAMC) was incorporated in Sep 1994, management services and savings services for Total Income 7,565.4
as the investment manager of Birla Sun Life NRI customers. As on Jan 31, 2017, BSLAMC
Net Profit 2,094.9
Mutual Fund. BSLAMC is a JV between the offered the following schemes - Birla Sun Life
Aditya Birla Group and the Sun Life Financial Frontline Equity Fund, Birla Sun Life MNC Fund, NPM (%) 27.7
Inc. The company offers PMS, investment Birla Sun Life Balanced 95 Fund, Birla Sun Life AAUM (Q1) 1,258,007.0
advisory services, equity schemes, hybrid and Tax Relief96, Birla Sun Life Top 100 Fund etc. AAUM (Q2) 1,336,987.9
monthly income funds, debt and treasury
AAUM (Q3) 1,368,449.3
products and offshore funds. It has a wide
range of fund schemes for individual customers AAUM (Q4) 1,367,851.1
(As on Mar 31, 2016)

BNP Paribas Asset Management India Private Limited

BNP Paribas House, 1, North Avenue, BKC, Bandra East, Mumbai - 400051, Maharashtra
Website: www.bnpparibasmf.in

Business Profile equity, fixed income, money market fund Dun & Bradstreet D-U-N-S No 65-060-0328
BNP Paribas Asset Management India Pvt. schemes as well as PMS. As of 31st January Financial Performance (` mn)
Ltd (BNP Paribas Asset Management) was 2017, some of them include; BNP Paribas Mid Total Income 778.5
incorporated as ABN AMRO Asset Management Cap Fund, BNP Paribas Equity Fund and BNP
Net Profit 111.9
(India) Pvt. Ltd in 2003. In 2008, the name of Paribas Dividend Yield Fund, among others.
the company was changed to Fortis Investment NPM (%) 14.4
Management (India) Pvt. Ltd. In 2010, the AAUM (Q1) 41,381.0
company acquired its present name subsequent AAUM (Q2) 46,375.9
to the global acquisition of Fortis group by BNP
AAUM (Q3) 50,079.5
Paribas. It acts as an investment manager to
BNP Paribas Mutual Fund. The company offers AAUM (Q4) 50,970.7
(As on Mar 31, 2016)

98
 Indias Leading BFSI Companies 2017

Canara Robeco Asset Management Company Limited

Construction House, 4th Flr, 5, Ballard Estate, Mumbai - 400001, Maharashtra
Website: www.canararobeco.com

Business Profile India Opportunities Fund, Canara Robeco Dun & Bradstreet D-U-N-S No 86-224-9430
Canara Robeco Asset Management Company Ltd Balance, Canara Robeco Monthly Income Plan, Financial Performance (` mn)
(Canara Robeco AMC) is the investment manager Canara Robeco Yield Advantage Fund, Canara Total Income 843.4
of Canara Robeco Mutual Fund (CRMF). Canara Robeco Treasury Advantage Fund, Canara
Net Profit 151.9
Robeco AMC is a JV between Canara Bank and Robeco Liquid, Canara Robeco Dynamic Bond
Robeco Groep N.V. The company offers various Fund, Canara Robeco Gold Saving Fund, Canara NPM (%) 18.0
investment options including equity, hybrid and Robeco Gold Exchange Traded Fund, Canara AAUM (Q1) 71,773.5
debt schemes as well as fund of funds and ETFs. Robeco Infrastructure, and Canara Robeco AAUM (Q2) 72,986.1
As of 31st January 2017, some of its schemes Equity Diversified among others.
AAUM (Q3) 75,178.0
include; Canara Robeco Emerging Equities,
Canara Robeco Equity Tax Saver, Canara Robeco AAUM (Q4) 80,432.7
(As on Mar 31, 2016)

DSP BlackRock Investment Managers Private Limited

Mafatlal Centre, 10th Floor, Nariman Point, Mumbai 400021, Maharashtra
Website: www.dspblackrock.com

Business Profile Equity Fund, Micro Cap Fund, Opportunities Dun & Bradstreet D-U-N-S No 87-179-8482
DSP BlackRock Investment Managers Pvt. Ltd Fund, Equity Savings Fund, Balanced Fund, Financial Performance (` mn)
(DSPBRIM), incorporated in 1996, was formerly MIP Fund, Dynamic Asset Allocation Fund, Total Income 3,867.3
known as DSP Merrill Lynch Fund Managers Ltd. Government Securities Fund, Banking and PSU
Net Profit 773.6
DSPBRIM is a JV between the DSP Group and Debt Fund, Income Opportunities Fund, World
BlackRock which operates as an AMC for the Mining Fund, and World Energy Fund. NPM (%) 20.0
schemes of DSP BlackRock Mutual Fund. The AAUM (Q1) 372,270.1
company offers a variety of equity schemes, AAUM (Q2) 384,612.0
hybrid schemes and fixed income schemes. As of
AAUM (Q3) 391,826.7
31st January 2017, some of the active schemes
of the fund comprised of Top 100 Equity Fund, AAUM (Q4) 401,513.1
(As on Mar 31, 2016)

HDFC Asset Management Company Limited

HDFC House, 2nd Flr, HT Parekh Marg, 165-166, Churchgate, Mumbai - 400020, Maharashtra
Website: www.hdfcfund.com

Business Profile Arbitrage Fund, HDFC Gilt Fund, HDFC Short Dun & Bradstreet D-U-N-S No 87-130-1399
HDFC Asset Management Company Ltd (HDFC Term Opportunities Fund, HDFC Short Term Financial Performance (` mn)
AMC) was incorporated in Dec 1999 and acts Plan, HDFC Income Fund, HDFC Liquid Fund, and Total Income 14,943.4
as an AMC for the HDFC Mutual Fund. HDFC HDFC Gold Fund.
Net Profit 4,778.7
AMC acts as an investment manager to HDFC
Mutual Fund. The company offers funds such NPM (%) 32.0
as equity funds, debt funds, liquid funds and AAUM (Q1) 1,653,346.8
fund of funds. Under these as of 31st January AAUM (Q2) 1,711,392.9
2017 the fund includes schemes such as; HDFC
AAUM (Q3) 1,786,662.2
Equity Fund, HDFC Top 200 Fund, HDFC Mid-Cap
Opportunities Fund, HDFC Prudence Fund, HDFC AAUM (Q4) 1,760,845.6
(As on Mar 31, 2016)

HSBC Asset Management (India) Private Limited

Gr Floor, Mercantile Bank Chambers, 16, V N Road, Fort, Mumbai - 400001, Maharashtra
Website: www.assetmanagement.hsbc.com/in

Business Profile HSBC Emerging Markets Fund, HSBC Tax Saver Dun & Bradstreet D-U-N-S No 67-550-6931
HSBC Asset Management (India) Pvt. Ltd (HSBC Equity Fund, HSBC Dynamic Fund, HSBC Dividend Financial Performance (` mn)
AMC), incorporated in Dec 2001, is a subsidiary Yield Equity Fund, HSBC Fixed Term Series, HSBC Total Income 935.0
of HSBC Securities & Capital Markets (India) Pvt. Ultra Short Term Bond Fund, HSBC Income Fund,
Net Profit 260.9
Ltd. HSBC AMC acts as the investment manager HSBC Cash Fund, and HSBC Flexi Debt Fund.
for HSBC Mutual Fund. It provides discretionary NPM (%) 27.9
and advisory PMS to its clients. The company AAUM (Q1) 85,565.9
also offers various schemes under equity and AAUM (Q2) 85,342.3
debt products. As of 31st January 2017, some
AAUM (Q3) 83,776.3
of these include HSBC Equity Fund, HSBC India
Opportunities Fund, HSBC Midcap Equity Fund, AAUM (Q4) 79,038.2
(As on Mar 31, 2016)

99
Indias Leading BFSI Companies 2017

ICICI Prudential Asset Management Company Limited

12th Floor, Narain Manzil, 23, Barakhamba Rd, New Delhi - 110001, Delhi
Website: www.icicipruamc.com

Business Profile Plan, ICICI Prudential Focused Bluechip Equity Dun & Bradstreet D-U-N-S No 67-553-4102
ICICI Prudential Asset Management Company Fund, ICICI Prudential Infrastructure Fund, Financial Performance (` mn)
Ltd (IPAMC), whose principal shareholders ICICI Prudential Value Discovery Fund, ICICI Total Income 10,123.6
are ICICI Bank Ltd and Prudential Corporation Prudential Top 100 Fund, ICICI Prudential Nifty
Net Profit 3,256.9
Holdings Ltd, was incorporated in 1993. Index Fund, ICICI Prudential FMCG Fund, ICICI
IPAMC acts as an investment manager to ICICI Prudential Long Term Gilt Fund, ICICI Prudential NPM (%) 32.2
Prudential Mutual Fund. The company offers Dynamic Bond Fund, ICICI Prudential Corporate AAUM (Q1) 1,556,059.7
a wide range of schemes under equity funds, Bond Fund, ICICI Prudential Balanced Fund, AAUM (Q2) 1,647,099.9
balanced funds, debt funds, fund of funds and ICICI Prudential Sensex iWIN ETF, and ICICI
AAUM (Q3) 1,722,369.9
ETFs. As of 31st January 2017, some of the Prudential NV20 iWIN ETF.
provided schemes are; ICICI Prudential Dynamic AAUM (Q4) 1,759,639.8
(As on Mar 31, 2016)

IDBI Asset Management Limited

IDBI Tower,WTC Complex, Cuffe Parade, Mumbai 400005, Maharashtra
Website: www.idbimutual.co.in

Business Profile IDBI India Top 100 Equity Fund, IDBI Gilt Fund, Dun & Bradstreet D-U-N-S No 86-024-1810
IDBI Asset Management Company Ltd (IDBI IDBI Dynamic Bond Fund, IDBI Liquid Fund, and Financial Performance (` mn)
AMC) was incorporated in Jan 2010 and is a IDBI Monthly Income Plan. Total Income 471.6
subsidiary of IDBI Bank Ltd. IDBI AMC primarily
Net Profit 34.7
acts as investment manager to IDBI Mutual
Fund Trustee Company Ltd. The company offers NPM (%) 7.4
various funds under equity schemes, debt AAUM (Q1) 56,218.2
schemes and gold schemes. As of 31st January AAUM (Q2) 70,754.0
2017, some of the products offered under these
AAUM (Q3) 75,642.8
segments are; IDBI Midcap Fund, IDBI India Top
100 Equity Fund, IDBI Diversified Equity Fund, AAUM (Q4) 68,926.6
(As on Mar 31, 2016)

IDFC Asset Management Company Limited

One India Bulls Centre, 841, Elphinstone Road (W), Mumbai - 400013, Maharashtra
Website: www.idfcmf.com

Business Profile of the schemes are; IDFC Premier Equity Fund, Dun & Bradstreet D-U-N-S No 67-733-5826
IDFC Asset Management Company Ltd (IDFC IDFC Sterling Equity Fund, IDFC Tax Advantage Financial Performance (` mn)
AMC) was established in 2000 and is a JV (ELSS) Fund, IDFC Monthly Income Plan, IDFC Total Income 3,255.9
between IDFC Ltd and Natixis Global Asset Government Securities Fund, IDFC Dynamic
Net Profit 1,100.4
Management (NGAM), France. IDFC AMC is an Bond Fund, IDFC Super Saver Income Fund,
investment manager of the various schemes IDFC Arbitrage Fund, IDFC Balanced Fund, IDFC NPM (%) 33.8
offered by IDFC MF. The company offers PMS Banking Debt Fund, IDFC Corporate Bond Fund, AAUM (Q1) 546,477.3
through its associate entity; IDFC Investment IDFC Sensex ETF, and IDFC Nifty ETF. AAUM (Q2) 569,183.3
Advisors Ltd. It also provides a wide range of
AAUM (Q3) 548,642.2
funds under categories like equity, debt, hybrid
and tax savings. As of 31st January 2017, some AAUM (Q4) 522,837.9
(As on Mar 31, 2016)

Invesco Asset Management (India) Private Limited

Unit No: 2101 A, 21st floor, A Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel, Mumbai 400 013
Website: www.religareinvesco.com

Business Profile include; Invesco India AGILE Tax Fund, Invesco Dun & Bradstreet D-U-N-S No 86-031-2368
Invesco Asset Management (India) Private India Arbitrage Fund, Invesco India Contra Fund, Financial Performance (` mn)
Limited formerly known as Religare Invesco Invesco India Mid Cap Fund, Invesco India Active Total Income 998.5
Asset Management Company Pvt Ltd is an Income Fund, Invesco India Corporate Bond
Net Profit (84.7)
investment manager to Invesco Mutual Fund. Opportunities Fund, Invesco India Liquid Fund,
The company acquired its new name in May Invesco India Nifty Exchange Fund, and Invesco NPM (%) (8.5)
2016 and Invesco Hong Kong Ltd. is the sponsor India Gilt Fund. AAUM (Q1) 195,359.8
for the asset management company. The product AAUM (Q2) 216,099.5
portfolio constitutes equity fund schemes, fixed
AAUM (Q3) 198,845.9
income fund schemes, hybrid scheme and ETFs.
As of 31st January 2017, some of its schemes AAUM (Q4) 195,961.8
(As on Mar 31, 2016)

100
 Indias Leading BFSI Companies 2017

JM Financial Asset Management Limited

Office B, 8th floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025.
Website: www.jmfinancialmf.com

Business Profile 31st January 2017, some of its offerings include; Dun & Bradstreet D-U-N-S No 86-031-2369
JM Financial Asset Management Ltd (JMFAML), JM Balanced fund, JM Basic fund, JM Tax Gain Financial Performance (` mn)
formerly known as JM Financial Asset Fund, JM Core 11 Fund, JM Multi Strategy fund, Total Income 856.1
Management Pvt. Ltd, was incorporated in JM Arbitrage Advantage Fund, JM Floater Short
Net Profit 444.8
June 1994 and is a part of the JM Financial Term Fund, JM Fixed Maturity and Internal Funds
Group. The company is an asset manager to Plan, JM High Liquidity Fund among others. NPM (%) 52.0
JM Financial Mutual Fund offering a variety of AAUM (Q1) 116,760.0
funds that meets the various requirements of AAUM (Q2) 158,581.5
institutional as well as individual investors. The
AAUM (Q3) 158,677.7
company offers various schemes under equity,
debt, arbitrage and liquid fund categories. As of AAUM (Q4) 161,609.0
(As on Mar 31, 2016)

Kotak Mahindra Asset Management Company Limited

27 BKC, C-27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400051, Maharashtra
Website: www.kotakmutual.com

Business Profile January 2017, some of its offerings include; Dun & Bradstreet D-U-N-S No 65-097-4764
Kotak Mahindra Asset Management Company Kotak Emerging Equity Scheme, Kotak 50, Financial Performance (` mn)
Ltd (Kotak Mahindra AMC), a wholly owned Kotak Opportunities, Kotak Tax Saver, Kotak Total Income 2,399.5
subsidiary of Kotak Mahindra Bank Ltd Balance, Kotak Midcap, Kotak Equity Arbitrage
Net Profit 593.3
(KMBL), commenced operations in Dec 1998. Fund, Kotak Infrastructure & Economic Reform
Kotak Mahindra AMC is the asset manager Fund, Kotak Low Duration Fund, Kotak Treasury NPM (%) 24.7
for Kotak Mahindra Mutual Fund (KMMF). It Advantage Fund, and Kotak Gilt Investment. AAUM (Q1) 483,366.7
also provides portfolio advisory services. The AAUM (Q2) 567,507.1
company offers a wide range of schemes under
AAUM (Q3) 551,338.3
equity funds, debt funds, balanced funds, fund
of funds and exchange traded funds. As of 31st AAUM (Q4) 587,310.8
(As on Mar 31, 2016)

L&T Investment Management Limited

6th Floor, Brindavan, Plot No 177, CST Road, Kalina, Santacruz (E), Mumbai 400098, Maharashtra
Website: www.lntmf.com

Business Profile Midcap Fund, L&T India Value Fund, L&T Tax Dun & Bradstreet D-U-N-S No 65-097-4772
L&T Investment Management Ltd (L&T IML), a Advantage Fund, L&T Tax Saver Fund, L&T India Financial Performance (` mn)
part of L&T Finance Holdings Ltd, is the asset Large Cap Fund, L&T Cash Fund, L&T Liquid Total Income 2,491.7
management company of L&T Mutual Fund. Fund, L&T Floating Rate Fund, L&T Short Term
Net Profit (518.9)
L&TIML provides PMS to clients under SEBI.The Income Fund, L&T Income Opportunities Fund
companys fund suite spans the whole range of and L&T Gilt Fund among many others. NPM (%) (20.8)
investment opportunities under equity funds, AAUM (Q1) 222,128.7
fixed income funds, hybrid funds, domestic AAUM (Q2) 242,800.6
and international funds. As of 31st January
AAUM (Q3) 250,585.1
2017, ome of its offerings under each of these
categories include; L&T Equity Fund, L&T AAUM (Q4) 259,448.0
(As on Mar 31, 2016)

LIC Mutual Fund Asset Management Limited

4th Flr, Industrial Assurance Bldg, Opp. Churchgate Station, Mumbai - 400020, Maharashtra
Website: www.licnomuramf.com

Business Profile company provides various schemes in equity, Dun & Bradstreet D-U-N-S No 91-516-3703
LIC Mutual Fund Asset Management Ltd, ETF, debt, hybrid, liquid and FMP categories. Financial Performance (` mn)
formerly known as LIC Nomura Mutual As of 31st January 2017, some of the funds Total Income 419.0
Fund Asset Management Company Ltd was offered under these segments are; LIC MF
Net Profit 15.7
incorporated in 1994. LIC Nomura Mutual Infrastructure Fund, LIC MF Tax Plan, LIC MF
Fund AMC acquired its present name in 2011, Index Fund Sensex, LIC MF Growth Fund, LIC NPM (%) 3.7
pursuant to transfer of its shares to Nomura MF Exchange Traded Fund-Sensex, and LIC MF AAUM (Q1) 111,327.6
Mutual Fund Asset Management Company Ltd. Income Plus Fund. AAUM (Q2) 111,566.5
The key activity of the company is to act as an
AAUM (Q3) 123,840.8
investment management advisor to LIC Nomura
Mutual Fund. It offers PMS to its clients. The AAUM (Q4) 131,556.2
(As on Mar 31, 2016)

101
Indias Leading BFSI Companies 2017

Mirae Asset Global Investments (India) Private Limited

Unit No. 606, 6th Floor, Windsor Bldg, Kalina, Santacruz (E), Mumbai - 400098, Maharashtra
Website: www.miraeassetmf.co.in

Business Profile Fund, Mirae Asset India Opportunities Fund, Dun & Bradstreet D-U-N-S No 86-026-1149
Mirae Asset Global Investments (India) Pvt In addition to the traditional categories, the Financial Performance (` mn)
Ltd (MASIPL) was established in Nov 2007 company offers thematic schemes such as Total Income 409.7
as a private limited company. It acts as an Mirae Asset Great Consumer Fund and Mirae
Net Profit 21.2
investment manager to Mirae Asset Mutual Asset China Advantage Fund.
Fund. MASIPL offers a host of schemes under NPM (%) 5.2
equity, thematic, hybrid, fixed income and AAUM (Q1) 19,813.5
tax saving categories. As of 31st January AAUM (Q2) 24,270.6
2017, some of the schemes operated include;
AAUM (Q3) 28,023.9
Mirae Asset Prudence Fund, Mirae Asset Cash
Management Fund, Mirae Asset Savings AAUM (Q4) 31,327.2
(As on Dec 31, 2015)

Motilal Oswal Asset Management Company Limited

Palm spring Centre, 2nd flr, Palm court Complex, Malad (W), Mumbai - 400064, Maharashtra
Website: www.motilaloswal.com

Business Profile funds, debt funds and passive funds. As of 31st Dun & Bradstreet D-U-N-S No 86-286-3703
Motilal Oswal Asset Management Company January 2017, some of the schemes operated Financial Performance (` mn)
Ltd (MOAMC) was incorporated in Nov 2008. by the compare were MOSt Focused 25 Fund, Total Income 1,850.5
MOAMC is a part of Motilal Oswal Group and a MOSt Focused Midcap 30 Fund, MOSt Focused
Net Profit 264.3
100% subsidiary of Motilal Oswal Securities Ltd. Multicap 35 Fund, MOSt Focused Long Term
MOAMC has been appointed as the investment Fund, MOSt Shares M50, MOSt Shares NASDAQ NPM (%) 14.3
manager to Motilal Oswal Mutual Fund. The 100, and MOSt Ultra Short Term Bond Fund. AAUM (Q1) 27,436.3
company primarily operates into two verticals AAUM (Q2) 39,282.7
namely PMS and MF. Under PMS, the company
AAUM (Q3) 45,522.3
offers Next Trillion Dollar Opportunity and Value
Strategy. MOAMC offers open ended equity AAUM (Q4) 46,892.1
(As on Mar 31, 2016)

Principal Pnb Asset Management Company Private Limited

Exchange Plaza, B wing, Gr Flr, NSE Bldg, BKC, Bandra-E, Mumbai - 400051, Maharashtra
Website: www.principalindia.com

Business Profile Principal Index Fund Midcap, Principal Equity Dun & Bradstreet D-U-N-S No 87-179-8508
Principal Pnb Asset Management Company Savings Fund, Principal Personal Tax Saver Fund, Financial Performance (` mn)
Pvt Ltd (Principal Pnb AMC) is an investment Principal Tax Savings Fund, Principal Balanced Total Income 390.3
manager for Principal Mutual Fund. The Fund, and Principal Cash Management Fund.
Net Profit (134.3)
company offers various funds under equity,
debt, ELSS, liquid fund, fund of funds, debt/ NPM (%) (34.4)
fixed income, balanced and hybrid schemes. AAUM (Q1) 64,792.4
As of 31st January 2017, some of the schemes AAUM (Q2) 66,237.0
operated by the company were Principal
AAUM (Q3) 58,787.6
Dividend Yield Fund, Principal Emerging
Bluechip Fund, Principal Smart Equity Fund, AAUM (Q4) 52,810.6
(As on Mar 31, 2016)

Reliance Nippon Life Asset Management Limited

H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairane, Navi Mumbai 400710
Website: www.reliancemutual.com

Business Profile Large Cap Fund, Reliance Index Fund - Nifty Dun & Bradstreet D-U-N-S No 86-031-2382
Reliance Nippon Life Asset Management Ltd plan, Reliance Pharma Fund, Reliance Money Financial Performance (` mn)
formerly known as Reliance Capital Asset Manager Fund, Reliance Income Fund, Reliance Total Income 12,710.1
Management Ltd was incorporated in Feb Gold Savings Fund, Reliance Liquid Fund - Cash
Net Profit 3,701.7
1995 as the AMC of Reliance Mutual Fund. The Plan, and Reliance Liquid Fund - Treasury Plan.
company is a subsidiary of Reliance Capital Ltd. NPM (%) 29.1
RCAM offers various schemes under equity fund AAUM (Q1) 1,457,437.6
schemes, liquid schemes, debt fund schemes AAUM (Q2) 1,538,848.1
and gold fund schemes. As of 31st January 2017,
AAUM (Q3) 1,578,781.7
some of its offerings include; Reliance Top 200
Fund, Reliance Vision Fund, Reliance Focused AAUM (Q4) 1,593,694.9
(As on Mar 31, 2016)

102
 Indias Leading BFSI Companies 2017

SBI Funds Management Private Limited

9th Floor, Crescenzo, C-38 & 39, G Block, BKC, Bandra (E), Mumbai - 400051, Maharashtra
Website: www.sbimf.com

Business Profile Fund, SBI Magnum Midcap Fund, SBI Blue Chip Dun & Bradstreet D-U-N-S No 87-178-4308
SBI Funds Management Pvt Ltd (SBIFMPL) Fund, SBI Contra Fund, SBI Nifty Index Fund, Financial Performance (` mn)
was incorporated in 1992 for managing the SBI Magnum Income Fund, SBI Ultra Short Total Income 5,524.0
schemes of SBI Mutual Fund. The company Term Debt Fund, SBI Corporate Bond Fund, SBI
Net Profit 1,653.5
is a wholly owned subsidiary of State Bank of Magnum Balanced Fund, SBI Dynamic Asset
India (SBI) and is presently a JV between SBI Allocation Fund, SBI - ETF GOLD, and SBI - ETF NPM (%) 29.9
and AMUNDI France. SBIFMPL offers range of Sensex. AAUM (Q1) 842,737.7
schemes in categories like equity, hybrid, debt, AAUM (Q2) 891,759.7
fixed maturity plans, liquid and ETFs. As of 31st
AAUM (Q3) 1,005,845.4
January 2017, some of its offerings include;
SBI Magnum Equity Fund, SBI Magnum Global AAUM (Q4) 1,073,273.7
(As on Mar 31, 2016)

Sundaram Asset Management Company Limited

No. 21, Patullos Road, Chennai 600002, TN
Website: www.sundarammutual.com

Business Profile Sundaram Global Advantage Fund, Sundaram Dun & Bradstreet D-U-N-S No 72-549-5621
Sundaram Asset Management Company Ltd Money Fund, Sundaram Ultra Short Term Fund, Financial Performance (` mn)
(Sundaram AMC) was incorporated in 1996 and Sundaram Income Plus, Sundaram Gilt Fund, Total Income 2,298.8
is the investment manager to Sundaram Mutual Sundaram Fixed Term Plan, Sundaram Select
Net Profit 44.1
Fund (SMF). SMF is the wholly owned subsidiary Mid Cap, Sundaram Select Focus, and Sundaram
of Sundaram Finance Ltd. Sundaram AMC offers S.M.I.L.E Fund. NPM (%) 1.9
various schemes in equity fund schemes and AAUM (Q1) 209,956.0
fixed income fund schemes.As of 31st January AAUM (Q2) 221,238.2
2017, some of the equity fund products offered
AAUM (Q3) 218,769.7
by the company include; Sundaram Tax Saver,
Sundaram Balanced Fund, Sundaram Top 100, AAUM (Q4) 236,637.1
(As on Mar 31, 2016)

Tata Asset Management Limited

9th Floor, Mafatlal Centre, Nariman Point, Mumbai - 400021, Maharashtra
Website: www.tatamutualfund.com

Business Profile income, dynamic, gilt and other funds. As of Dun & Bradstreet D-U-N-S No 65-053-5250
Tata Asset Management Ltd (Tata Asset 31st January 2017 some of the schemes offered Financial Performance (` mn)
Management) was incorporated in Mar 1994. were Tata Large Cap Fund, Tata Dividend Yield Total Income 1,443.4
The company acts as an investment manager of Fund, Tata Equity Opportunities Fund, Tata
Net Profit 52.5
Tata Mutual Fund (TMF). Tata Asset Management Ethical Fund, Tata Mid Cap Growth Fund, Tata
offers wide range of schemes under equity fund Infrastructure Fund, Tata Consumer Fund, and NPM (%) 3.6
scheme, debt fund scheme, hybrid scheme and Tata Index Fund. AAUM (Q1) 280,451.6
close ended fund scheme. Under equity fund AAUM (Q2) 288,571.9
schemes, it offers funds in large cap, diversified,
AAUM (Q3) 315,559.0
mid cap, sectoral, ELSS and index categories. Its
debt fund schemes include; liquid, short term, AAUM (Q4) 318,622.3
(As on Mar 31, 2016)

UTI Asset Management Company Limited

UTI Tower, GN Block, BKC, Bandra (E), Mumbai - 400051, Maharashtra
Website: www.utimf.com

Business Profile January 2017, some of its schemes include; UTI Dun & Bradstreet D-U-N-S No 91-585-5423
UTI Asset Management Company Ltd (UTI Mastershare Unit Scheme, UTI Equity Fund, UTI Financial Performance (` mn)
AMC) was incorporated in Nov 2002 to provide Top 100 Fund, UTI Childrens Career Balanced Total Income 7,495.8
investment management services to schemes Plan, UTI Money Market Fund, and UTI Bond
Net Profit 2,320.5
of UTI Mutual Fund. The company has four Fund.
wholly owned subsidiaries, UTI Venture Funds NPM (%) 31.0
Management Company Pvt Ltd, UTI Retirement AAUM (Q1) 927,302.3
Solutions Ltd, UTI International Ltd and UTI AAUM (Q2) 1,040,774.0
Capital Pvt Ltd. The company offers various fund
AAUM (Q3) 1,061,290.4
schemes such as equity fund schemes, balance
fund schemes, debt fund schemes. As of 31st AAUM (Q4) 1,063,092.2
(As on Mar 31, 2016)

103
 Indias Leading BFSI Companies 2017
Advt

The New India Assurance Co.Ltd. - A wholly owned Government Company

Our website: www.newindia.co.in
Dun & Bradstreet D-U-N-S No
Financial Performance (` mn)
The New India Assurance Co.Ltd which is the largest general insurance
Total Income

company in the country offers attractive schemes for those persons going
Net Profit
NPM (%)
abroad either for business or holidays
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
Overseas mediclaim insurance for Overseas mediclaim insurance for
AAUM (Q4)
Business and Holiday Corporate Frequent Travelers
(As on Mar 31, 2016)

We give here below in a nutshell the salient features of the policies. The policy covers the following:
The policy covers the following: 1. Medical expenses and repatriation
1. Medical expenses and repatriation 2. Personal Accident.
2. Personal Accident. 3. Loss of checked in baggage.
3. Loss of checked in baggage. 4. Delay of check in baggageDun & Bradstreet D-U-N-S No
4. Delay of check in baggage 5. Loss of passport
Financial Performance (` mn)
5. Loss of passport 6. Personal liability
6. Personal liability Total Income
The plan types available are as follows: Net
The plan types available are asProfit
follows
NPM (%)
Countries covered Sum insured There is also a plan Z for corporate
AAUM (Q1)clients where premium is collected on per
AAUM (Q2)
Worldwide cover US$ 100,000 Countries covered Sum insured
AAUM (Q3)
Worldwide cover US$ 500,000 Worldwide cover US$ 100,000
AAUM (Q4)
Countries excluding USA and Canada US$ 50,000 Worldwide cover US$ 500,000
(As on Mar 31, 2016)

Countries excluding USA and Canada US$ 250,000 day basis. Policy is issued on annual basis.

Policies can be bought online from our website. Policies can be bought online from our website.
Premium to be paid in INR. Premiums differ with age. Premium to be paid in INR. Premium differs with age.
The above are the brief details. For full details please visit our The above are the brief details. For full details please visit our
website: www.newindia.co.in website: www.newindia.co.in
Dun & Bradstreet D-U-N-S No
Financial Performance (` mn)
Overseas mediclaim insurance for students going abroad for studies
Total Income
We give here below in a nutshell the salient features of the policies. Net Profit
The plan types available are as follows NPM (%)
AAUM (Q1)
The policy covers the following:
AAUM (Q2)

1. Medical accident and sickness expenses AAUM (Q3)

AAUM (Q4)
Countries covered Sum insured (As on Mar 31, 2016)
Worldwide cover including USA & Canada US$ 150,000
Worldwide cover including USA & Canada US$ 500,000
Countries excluding USA and Canada US$ 150,000

2. Medical evacuation Dun & Bradstreet D-U-N-S No

3. Repatriation and transportation of mortal remains
Financial Performance (` mn)
4. Medical emergency reunion expenses
5. Contingency insurance - recompense for sponsored student. Total Income
Net Profit
Policies can be bought online from our website NPM (%)
The premiums are calculated on monthly basis to be paid as per the duration of the stay and is payable in Indian
AAUM rupees.
(Q1)
The above are the brief detail. For full details please visit our website: www.newindia.co.in AAUM (Q2)
*Conditions apply (For more details on risk factors, terms & conditions please read sales brochure carefully before
AAUMconcluding
(Q3) a sale)
AAUM (Q4)
(As on Mar 31, 2016)

104
 Indias Leading BFSI Companies 2017

Dun & Bradstreet D-U-N-S No

Financial Performance (` mn)
Total Income
Net Profit
NPM (%)
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
AAUM (Q4)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financial Performance (` mn)
Total Income
Net Profit
NPM (%)
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
AAUM (Q4)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financial Performance (` mn)
Total Income
Net Profit
NPM (%)
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
AAUM (Q4)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financial Performance (` mn)
Total Income
Net Profit
NPM (%)
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
AAUM (Q4)
(As on Mar 31, 2016)
IRDAI REGN. NO. 190 CIN: U 99999 MH 1919 GOI 000 526 URN No. SPON/2017-17/447
105
Indias Leading BFSI Companies 2017

Dun & Bradstreet D-U-N-S No

Financial Performance (` mn)
Total Income
Net Profit
NPM (%)
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
AAUM (Q4)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financial Performance (` mn)
Total Income
Net Profit
NPM (%)
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
AAUM (Q4)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financial Performance (` mn)
Total Income
Net Profit
NPM (%)
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
AAUM (Q4)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financial Performance (` mn)
Total Income
Net Profit
NPM (%)
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
AAUM (Q4)
(As on Mar 31, 2016)

106
 Indias Leading BFSI Companies 2017

Dun & Bradstreet D-U-N-S No

Financial Performance (` mn)
Total Income
Net Profit
NPM (%)
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
AAUM (Q4)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financial Performance (` mn)
Total Income
Net Profit
NPM (%)
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
AAUM (Q4)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financial Performance (` mn)
Total Income
Net Profit
NPM (%)
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
AAUM (Q4)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financial Performance (` mn)
Total Income
Net Profit
NPM (%)
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
AAUM (Q4)
(As on Mar 31, 2016)

107
Indias Leading BFSI Companies 2017

Bajaj Allianz Life Insurance Company is one of India's leading private Key Performance Highlights Business Achievements
life insurance companies. Bajaj Allianz Life is a joint venture between Dun & Bradstreet D-U-N-S No
Bajaj Finserv Ltd and Allianz SE. The company started its operations Financial Performance (` mn)
on 3rd August 2001 with a commitment to offer premium nancial Total Income
solutions providing nancial security to individuals and their families.
Net Profit
While Bajaj Group has more than ve decades of experience in the
local market, Allianz SE is a leading insurance conglomerate globally NPM (%)
and one of the largest asset managers in the world with over 110 AAUM (Q1)
years of experience in the nancial services sector and presence in AAUM (Q2)
more than 70 countries. Bajaj Finserv Ltd and Allianz SE, both enjoy
AAUM (Q3)
a reputation of expertise, stability and strength.
AAUM (Q4)
Bajaj Allianz Life Insurance today has a pan-India presence with 697 (As on Mar 31, 2016)
branches in India. The company takes pride in offering life insurance
solutions that cater to all segments and age-income proles. Bajaj
Allianz Life Insurance has a strong life insurance product portfolio to
cater to all kinds of customer needs from ULIPs to Child plans, group
insurance to retirement plans.

Dun & Bradstreet D-U-N-S No

Financial Performance (` mn)
Total Income
Net Profit
NPM (%)
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
AAUM (Q4)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financial Performance (` mn)
Total Income
Net Profit
NPM (%)
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
AAUM (Q4)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financial Performance (` mn)
Total Income
Net Profit
NPM (%)
AAUM (Q1)
AAUM (Q2)
AAUM (Q3)
AAUM (Q4)
(As on Mar 31, 2016)

108
Indias Leading BFSI Companies 2017 Total Income Listing 111

Indias Leading BFSI Companies 2017

Sr No Company Name Type Total Income (` mn)

1 Life Insurance Corporation of India Public Sector 4,242,185.1

2 ICICI Prudential Life Insurance Company Limited Private Sector 208,275.2

3 SBI Life Insurance Company Limited Private Sector 194,448.5

4 HDFC Standard Life Insurance Company Limited Private Sector 182,458.5

5 Max Life Insurance Company Limited Private Sector 106,645.9

6 Bajaj Allianz Life Insurance Company Limited Private Sector 74,212.1

7 Birla Sun Life Insurance Company Limited Private Sector 65,648.8

8 Reliance Nippon Life Insurance Company Limited Private Sector 54,894.1

9 Kotak Mahindra Old Mutual Life Insurance Limited Private Sector 45,476.4

10 Tata AIA Life Insurance Company Limited Private Sector 32,446.5

11 PNB MetLife India Insurance Company Limited Private Sector 30,756.2

12 Exide Life Insurance Company Limited Private Sector 26,443.7

13 IndiaFirst Life Insurance Company Limited Private Sector 24,464.8

14 Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited Private Sector 20,779.1

15 Aviva Life Insurance Company India Limited Private Sector 18,198.3

16 Star Union Dai-Ichi Life Insurance Company Limited Private Sector 14,477.2

17 IDBI Federal Life Insurance Company Limited Private Sector 14,463.2

18 Bharti AXA Life Insurance Company Limited Private Sector 13,389.3

19 DHFL Pramerica Life Insurance Company Limited Private Sector 11,809.9

20 Shriram Life Insurance Company Limited Private Sector 11,803.3

21 Future Generali India Life Insurance Company Limited Private Sector 7,976.3

22 Aegon Life Insurance Company Limited Private Sector 6,106.0

23 Edelweiss Tokio Life Insurance Company Limited Private Sector 5,986.7

24 Sahara India Life Insurance Company Limited Private Sector 2,133.2

Indias Leading BFSI Companies 2017 Net Premium Earned Listing 113

Indias Leading BFSI Companies 2017

Net Premium Earned
Sr No Company Name Type
(` mn)

1 Life Insurance Corporation of India Public Sector 2,664,442.1

2 ICICI Prudential Life Insurance Company Limited Private Sector 189,987.0

3 HDFC Standard Life Insurance Company Limited Private Sector 161,787.8

4 SBI Life Insurance Company Limited Private Sector 156,654.5

5 Max Life Insurance Company Limited Private Sector 91,389.3

6 Bajaj Allianz Life Insurance Company Limited Private Sector 58,317.2

7 Birla Sun Life Insurance Company Limited Private Sector 54,117.4

8 Reliance Nippon Life Insurance Company Limited Private Sector 43,706.4

9 Kotak Mahindra Old Mutual Life Insurance Limited Private Sector 39,132.9

10 PNB MetLife India Insurance Company Limited Private Sector 27,272.3

11 Tata AIA Life Insurance Company Limited Private Sector 24,358.0

12 Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited Private Sector 20,452.9

13 Exide Life Insurance Company Limited Private Sector 20,162.4

14 IndiaFirst Life Insurance Company Limited Private Sector 19,370.8

15 Aviva Life Insurance Company India Limited Private Sector 14,401.8

16 Star Union Dai-Ichi Life Insurance Company Limited Private Sector 12,776.6

17 IDBI Federal Life Insurance Company Limited Private Sector 12,308.2

18 Bharti AXA Life Insurance Company Limited Private Sector 11,894.4

19 Shriram Life Insurance Company Limited Private Sector 10,198.7

20 DHFL Pramerica Life Insurance Company Limited Private Sector 8,881.1

21 Future Generali India Life Insurance Company Limited Private Sector 5,692.8

22 Aegon Life Insurance Company Limited Private Sector 4,713.2

23 Edelweiss Tokio Life Insurance Company Limited Private Sector 3,001.8

24 Sahara India Life Insurance Company Limited Private Sector 1,569.7

Indias Leading BFSI Companies 2017

Aegon Life Insurance Company Limited

Building No. 3, Third Floor, Unit No. 1, Nesco IT Park, Western Express Highway, Goregaon (East), Mumbai- 400063
Website: www.aegonlife.com

Business Profile Insurance, Aegon Life Insta Pension Plan, Aegon Dun & Bradstreet D-U-N-S No 87-180-3600
AEGON Life Insurance Company Ltd (ALICL), Life iSpouse Insurance Plan and Aegon Life Term Financials (` mn)
formerly known as Aegon Religare Life Insurance Plan among others. ARLI also offers
Total Income 6,106.0
Insurance Company Ltd is a JV between several group and rural insurance plans mainly
Aegon and Bennett, Coleman & Company. The Aegon Life Group Credit Shield Insurance Plan, Total Premium 4,713.2
company launched its pan-India operations in Aegon Life Group Gratuity Plan and Rural Term
AUM 17,849.4
July, 2008. It offers various insurance schemes Insurance Plan. The company operates through
under term, health, ULIPs, savings, retirement its headquarters in Mumbai and 53 branches Key Ratios
and child plan. Some of its offerings include; across 46 cities. It caters to 0.4 mn customer
Solvency Ratio 2.2
Aegon Life iReturn Insurance Plan, Aegon through 9,600 life insurance agents across
Life Easy Protect Insurance Plan, Rising Star country. Net Premium Growth (%) (11.5)
(As on Mar 31, 2016)

Aviva Life Insurance Company India Limited

Aviva Tower, Sector Road, Opp. Golf Course, DLF-Phase V, Sector-43, Gurgaon - 122 003, Haryana
Website: www.avivaindia.com

Business Profile Nirman, Aviva Dhan Samruddhi, Aviva Life Dun & Bradstreet D-U-N-S No 86-025-1614
Aviva Life Insurance Company India Ltd (Aviva Bond Advantage, Aviva Live Smart, Aviva Health Financials (` mn)
Life) is a JV between Dabur Invest Corp, India Secure, Aviva Heart Care, Aviva Group Gratuity
Total Income 18,198.3
and UKs Aviva Group. The company offers Advantage and Aviva New Traditional Employee
various insurance plans to the individuals Benefit Plan among others. Its sales force Total Premium 14,401.8
under the categories of child plans, savings comprises of over 12,000 financial planning
AUM 87,520.3
plans, retirement plans, protection, health and advisors with 108 branches spread across India.
rural plans. It also offers term plan, gratuity & As on Mar 31 2016, the company had solvency Key Ratios
leave encashment and rural-credit protection margin of 384% and its AUM stood at ` 87.5
Solvency Ratio 3.8
plans for groups. Some of its plan include Aviva bn.
Annuity Plus, Aviva Next Innings, Aviva Dhan Net Premium Growth (%) (17.3)
(As on Mar 31, 2016)

Bajaj Allianz Life Insurance Company Limited

G.E. Plaza, Airport Road, Yerawada, Pune 411006, Maharashtra
Website: www.bajajallianzlife.com

Business Profile eTouch Online Term, Lifelong Assure, Future Dun & Bradstreet D-U-N-S No 91-823-6019
Bajaj Allianz Life Insurance Company Ltd (Bajaj Gain, Income Assure, Retire Rich, Bima Dhan Financials (` mn)
Allianz Life) is a JV between Bajaj Finserv and Suraksha Yojana, Guarantee Assure, Principal
Total Income 74,212.1
Allianz SE and began its operations in 2001. Gain and iSecure More amongst others. The
The company offers various insurance plans company has 21 individual plans and 10 group Total Premium 58,317.2
in the areas of term insurance, ULIP, saving plans along with 13 riders. As on Mar 31, 2016
AUM 43,884.9
solutions, investment solutions, retirement solvency ratio of Bajaj Allianz Life stood at 793%
solutions, child insurance, group insurance, and its AUM stood at 441.1 mn. Key Ratios
riders and micro insurance solutions to a varied
Solvency Ratio 7.9
age-income group. Some of the insurance
schemes offered by Bajaj Allianz Life include Net Premium Growth (%) (2.0)
(As on Mar 31, 2016)

Bharti AXA Life Insurance Company Limited

6th Floor, Unit- 601 & 602, Raheja Titanium, Off Western Express Highway, Goregaon (East), Mumbai- 400 063, Maharashtra
Website: www.bharti-axalife.com

Business Profile offerings include; Bharti AXA Life Samridhhi, Dun & Bradstreet D-U-N-S No 67-713-9396
Bharti AXA Life Insurance Company Ltd (Bharti Bharti AXA Life eProtect, Bharti AXA Life Future Financials (` mn)
AXA Life) was started in 2006 as a JV between Invest Plan, Triple Health Insurance and Hospi
Total Income 13,389.3
Bharti Enterprises and AXA, with 51% stake held Cash Benefit Rider. Bharti AXA Life also offers
by Bharti Enterprises and the rest 49% by AXA. group insurance plans like Bharti AXA Life Loan Total Premium 11,894.4
Bharti AXA Life offers a wide range of products Secure, Bharti AXA Life Smart Bima and AXA
AUM 307,658.0
and services catering to specific insurance and Life Accidental Death Benefit Rider. Bharti AXA
wealth management needs of customers. It Life operates through 124 branches and 16,000 Key Ratios
offers insurance schemes for individuals such advisors across India. As on Mar 31 2016,
Solvency Ratio 2.2
as savings plans, protection plans, investment solvency ratio of the company stood at 2.19%.
plans, health plans and riders. Some of its Net Premium Growth (%) 14.6
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

Birla Sun Life Insurance Company Limited

One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013, Maharashtra
Website: www.insurance.birlasunlife.com

Business Profile Plus Plan, BSLI Vision Star Plan, BSLI Empower Dun & Bradstreet D-U-N-S No 91-857-9769
Birla Sun Life Insurance Company Limited (BSLI) Pension Plan, BSLI Wealth Max Plan and Financials (` mn)
is a JV between the Aditya Birla Group and BSLI Vision MoneyBack Plus Plan. BSLI has a
Total Income 65,648.8
Sun Life Financial Inc which was establishment customer base of two million policy holders,
in year 2000. The Company offers a complete distribution reach in over 500 cities with Total Premium 54,117.4
range of offerings comprising protection 600 branches, around 140,000 advisors and
AUM 307,429.4
solutions, childrens future solutions, wealth over 700 partnerships with corporate agents,
with protection solutions, health and wellness brokers and banks. As on Mar 31 2016, AUM of Key Ratios
solutions, retirement solutions and savings the company stood at ` 308.1 bn.
Solvency Ratio 2.1
with protection solutions. Some of its offerings
include BSLI Protector Plus Plan, BSLI Hospital Net Premium Growth (%) 6.8
(As on Mar 31, 2016)

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited

C-31 & C-32, 1st Floor, Cannaught Circus New Delhi - 110001, India
Website: www.canarahsbclife.com

Business Profile Plan, Insure Smart Plan, Shubh Labh, eSmart Dun & Bradstreet D-U-N-S No 65-033-7400
Canara HSBC Oriental Bank of Commerce Life Term Plan, Smart Monthly Income Plan, Smart Financials (` mn)
Insurance Company Ltd (Canara HSBC OBC Stage Money Back Plan, Group Superannuation
Total Income 20,779.1
Life) was launched in June 2008 and is jointly Plan and Group Traditional Benefit Plan. The
owned by Canara Bank and OBC and HSBC company has access to around 60 mn customers Total Premium 20,452.9
Insurance Holdings Ltd. The company offers 23 and a network of over 8,000 branches of Canara
AUM 97,856.5
products various insurance plans under ULIPs, Bank, HSBC and OBC. In FY16, the company
protection, and traditional plans for individuals initiated 1,092 death claims and settled 1,056 Key Ratios
along with group plans. Some of the plans deaths claims resulting in a claims settlement
Solvency Ratio 4.1
offered by Canara HSBC OBC Life include Grow ratio of 95%.
Smart Plan, Dream Smart Plan, Future Smart Net Premium Growth (%) 24.5
(As on Mar 31, 2016)

DHFL Pramerica Life Insurance Company Limited

4th Floor, Building No. 9B, Cyber City, DLF City Phase III, Gurgaon 122002. Haryana
Website: www.dhflpramerica.com

Business Profile DHFL Pramerica Dengue Shield, DHFL Pramerica Dun & Bradstreet D-U-N-S No 67-767-8558
DHFL Pramerica Life Insurance Company Ltd Aajeevan Samriddhi, DHFL Pramerica Rakshak+, Financials (` mn)
(DPLI) is a JV between Dewan Housing Finance DHFL Pramerica Premier Gain, DHFL Pramerica
Total Income 11,809.9
Corporation Ltd and Prudential International e Save, DHFL Pramerica TruShield, and DHFL
Insurance Holdings, Ltd which came into Pramerica Wealth+ ACE. The company operates Total Premium 8,881.1
existence in July 2013. DPLI offers wide range through a network of 87 branches with over 10
AUM 202,780.0
of life insurance solutions for individuals as well mn customers. As on Nov 30, 2016, it had ` 24.5
as groups under the categories of protection, bn AUM. Key Ratios
child progress, health and savings. Some of its
Solvency Ratio 10.3
plans offered by DPLI include DHFL Pramerica
Wealth+ ACE, DHFL Pramerica Family Income, Net Premium Growth (%) 24.0
(As on Mar 31, 2016)

Edelweiss Tokio Life Insurance Company Limited

Edelweiss House, Off. CST Road, Kalina, Mumbai 400 098, Maharashtra
Website: www.edelweisstokio.in

Business Profile Life Wealth Builder, Edelweiss Tokio Life GCAP, Dun & Bradstreet D-U-N-S No 85-955-4944
Edelweiss Tokio Life Insurance Company Edelweiss Tokio Life CritiCare+ and Edelweiss Financials (` mn)
Limited (Edelweiss Tokio Life) was formed in Tokio Life WAAC among others. The company
Total Income 5,986.7
year 2011 as a JV between Edelweiss Financial also offers group insurance solution in the form
Services and Tokio Marine Holdings Inc, Japan. of insurance product namely Edelweiss Tokio Total Premium 3,001.8
The company offers various insurance products Life Group Credit Protection, Group Employee
AUM 13,975.5
under secure future, healthy future, planned Benefit Plan, Group Life Protection and Group
future, education planning, retirement planning Wealth Accumulation. As on Mar 31 2016, Key Ratios
and growth planning. Some of its offerings solvency ratio of the company stood at 263.6%.
Solvency Ratio 2.6
include; Edelweiss Tokio Life TotalSecure+,
Edelweiss Tokio Life MyLife+, Edelweiss Tokio Net Premium Growth (%) 60.9
(As on Mar 31, 2016)

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Indias Leading BFSI Companies 2017

Exide Life Insurance Company Limited

3rd Floor, JP Techno Park, No. 3/1, Millers Road, Bangalore- 560 001, Karnataka, India
Website: www.exidelife.in

Business Profile Saver, Exide Life Mera Aashirvad, Exide Life Dun & Bradstreet D-U-N-S No 65-097-5001
Exide Life Insurance Company Ltd (Exide LIC), a Golden Years Retirement Plan and Exide Life Financials (` mn)
wholly owned subsidiary of Exide Industries Ltd New Fulfilling Life among others. The company
Total Income 26,443.7
commenced business operations in 200102. distributes its products through multichannels
The company offers wide range of insurance viz. agency, banc assurance, corporate agency, Total Premium 20,162.4
products such as protection plans, saving and broking and direct channels. As on Mar 31
AUM 94,459.9
investments, retirement and pension schemes. 2016, Exide LIC had AUM worth ` 95.3 bn
Some of its offerings include; Exide Life and solvency ratio of 265%. In FY16, it earned Key Ratios
Smart Term Plan, Exide Life Accidental Death, premium income of ` 20.47 bn.
Solvency Ratio 2.7
Disability & Dismemberment Rider, Exide Life
Wealth Maxima - Maxima Child, Exide Life Star Net Premium Growth (%) 0.1
(As on Mar 31, 2016)

Future Generali India Life Insurance Company Limited

Indiabulls Finance Centre, Tower 3, 6th Floor, Senapati Bapat Marg, Elphinstone(W), Mumbai-400013, Maharashtra
Website: www.life.futuregenerali.in

Business Profile Generali Pearls Guarantee, Future Generali Dun & Bradstreet D-U-N-S No 65-030-8604
Future Generali India Life Insurance Company Group Superannuation Plan, Future Generali Financials (` mn)
Ltd (Future Generali Life) was incorporated Group Leave Encashment Plan, Future Generali
Total Income 7,976.3
in 2007. Future Generali Life is a JV between Immediate Annuity Plan and Future Generali
Future Group, Generali Group and Industrial Jan Suraksha Plus amongst others. In FY16, the Total Premium 5,692.8
Investment Trust Ltd. It offers various insurance company registered claim settlement ratio of
AUM 26,620.5
plans such as term plans, saving plans, group 90.6% and its AUM stood at ` 26 bn as on Mar
plans, retirement plans and rural plans. Some 31 2016. Key Ratios
of its offerings include Future Generali Flexi
Solvency Ratio 2.0
Online Term Plan, Future Generali Assure Plus,
Future Generali Wealth Protect Plan, Future Net Premium Growth (%) (3.2)
(As on Mar 31, 2016)

HDFC Standard Life Insurance Company Limited

Lodha Excelus, 13th Floor Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400011, Maharashtra, India
Website: www.hdfclife.com

Business Profile - ULIP, HDFC Life YoungStar Udaan and HDFC Dun & Bradstreet D-U-N-S No 87-179-6458
HDFC Standard Life Insurance Company Ltd Life Smart Woman Plan. As on Mar 31 2016, Financials (` mn)
(HDFC Life) is a JV between HDFC Ltd and the company operated with a wide distribution
Total Income 182,458.5
Standard Life plc with 61.6% and 35% holding network of 398 branches and 117,000 agents.
respectively. HDFC Life offers a range of As on Oct 31 2016, the companys portfolio Total Premium 161,787.8
individual and group insurance solutions such included 29 individual, nine group products and
AUM 742,491.1
as protection, pension, savings & investment, eight optional rider benefits. In FY16, HDFC Life
health, childrens & womens Plan. Some of introduced HDFC Life Click 2 Retire plan in its Key Ratios
its offerings include; HDFC Life Click2Protect existing specialized online offerings.
Solvency Ratio 2.0
Plus, HDFC Life Assured Pension Plan, HDFC
Life Cancer Care Plan, HDFC Life Click2Invest Net Premium Growth (%) 9.6
(As on Mar 31, 2016)

ICICI Prudential Life Insurance Company Limited

ICICI Pru Life Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400025, Maharashtra
Website: www.iciciprulife.com

Business Profile Pru Anmol Bachat and Group Leave encashment Dun & Bradstreet D-U-N-S No 87-180-0838
ICICI Prudential Life Insurance Company Ltd Plan amongst others. As on Mar 31 2016, Financials (` mn)
(ICICI Prudential Life) is a JV between ICICI Bank the company operated through 521 offices
Total Income 208,275.2
Ltd, India and Prudential Corporation Holdings at 456 locations across the country. In FY16,
Ltd. The company started its operation in the the company settled over 10,600 individual Total Premium 189,987.0
year 2001. It offers wide range of insurance mortality claims with the claim settlement ratio
AUM 1,017,904.7
products under term plans, ULIPs, retirement of 96.2%. As on Jun 30, 2016, its AUM stood at
plans, group plans, rural plans and money ` 1,092.8 bn. Key Ratios
back plans. Some of its offerings under these
Solvency Ratio 3.2
categories include; ICICI Pru Loan Protect, ICICI
Pru Group Term Plus, Group Gratuity Plan, ICICI Net Premium Growth (%) 25.3
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

IDBI Federal Life Insurance Company Limited

22nd Floor, A Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel (East),Mumbai 400013, India.
Website: www.idbifederal.com

Business Profile Group Insurance Plan SP, Childsurance Savings Dun & Bradstreet D-U-N-S No 86-031-2365
IDBI Federal Life Insurance Company Ltd (IDBI Protection Insurance Plan and Wealthsurance Financials (` mn)
Federal) is a JV between IDBI Bank, Federal Bank Suvidha Growth Insurance Plan. It has access to
Total Income 14,463.2
and Ageas, Europe. The company commenced a nationwide network of over 3,000 branches
operating in the year 2008. It offers diverse of IDBI Bank and Federal Bank. As on Mar 31 Total Premium 12,308.2
range of plans under child plans, endowment 2016, IDBI Federal had AUM worth ` 48.9 bn. In
AUM 47,384.7
plans, term plan, group plan, money back plan FY16, the company issued 0.82 mn policies and
and wealth plans. Some of the insurance plans its claim settlement ratio stood at 85%. Key Ratios
offered by IDBI Federal include Wealth Gain
Solvency Ratio 4.1
Insurance Plan, Group Micfoinsurance Plan,
Secured Income Insurance Plan, Loansurance Net Premium Growth (%) 16.0
(As on Mar 31, 2016)

IndiaFirst Life Insurance Company Limited

301, B Wing, The Qube, Infinity Park, Malad- (E), Mumbai - 400097, Maharashtra
Website: www.indiafirstlife.com

Business Profile of ` 90.6 bn. In FY16, IndiaFirst LIC launched a Dun & Bradstreet D-U-N-S No 65-049-5398
IndiaFirst Life Insurance Company Ltd (IndiaFirst non-linked, participating, endowment, deferred Financials (` mn)
LIC) started operations in Mar 2010 and is a JV pension plan under the name Guaranteed
Total Income 24,464.8
between Bank of Baroda, Andhra Bank and UK- Retirement Plan. In Jul 2016, the company
based risk, wealth and investment company entered into partnership with Nainital Bank for Total Premium 19,370.8
Legal & General. The company offers wide distribution of its products and with IFMR Rural
AUM 88,970.5
variety of insurance products under health Channels and Services Pvt Ltd for distribution of
Insurance, investment plan, term insurance, life insurance policies in rural areas. Key Ratios
savings plan, retirement plan, micro insurance,
Solvency Ratio 2.2
protection plan and employee liability plan. As
on Mar 31 2016, the company recorded AUM Net Premium Growth (%) (4.2)
(As on Mar 31, 2016)

Kotak Mahindra Old Mutual Life Insurance Limited

2nd Floor, Plot # C- 12, G- Block BKC, Bandra (E) Mumbai Mumbai City MH 400051 IN
Website: insurance.kotak.com

Business Profile Pension Plan, Kotak Headstart Child Assure, Dun & Bradstreet D-U-N-S No 86-031-2373
Kotak Mahindra Old Mutual Life Insurance Ltd Kotak Gratuity Plus Group Plan, Kotak Leave Financials (` mn)
(Kotak Life Insurance) is a 74:26 JV between Encashment Group Plan, Kotak Secure Return
Total Income 45,476.4
Kotak Mahindra Bank Ltd, its affiliates and and Employee Benefit Plan among others. It has
Old Mutual. Kotak Life Insurance offers wide more than 4 mn policyholders nationwide. In Total Premium 39,132.9
range of life insurance plans under protection FY16, the company issued 0.26 mn policies and
AUM 167,766.8
plans, savings & investment plans, riders, settled 56,341 claims.
retirement plans, child plans and group plans. Key Ratios
Some of its product offerings include Kotak
Solvency Ratio 3.1
Preferred e-Term Plan, Kotak Income Protection
plan, Kotak Single Invest Plus, Kotak Premier Net Premium Growth (%) 31.3
(As on Mar 31, 2016)

Life Insurance Corporation of India

Yogakshema, Jeevan Bima Marg, Post Box No. 19953, Nariman Point, Mumbai - 400021, Maharashtra
Website: www.licindia.in

Business Profile Lakshya, Jeevan Tarun, and New Bima Bachat Dun & Bradstreet D-U-N-S No 87-181-2867
Life Insurance Corporation of India (LIC) was among others. It also offers wide range of group Financials (` mn)
established in 1956 as a result of the passing insurance schemes such as Group Credit Life
Total Income 4,242,185.1
of Life Insurance Corporation Act by Parliament Insurance, Aam Admi Bima Yojana and New
of India in June, 1956. LIC offers a wide range Group gratuity Cash accumulation scheme. Total Premium 2,664,442.1
of insurance products such as insurance plans, In FY16, LIC introduced eight new products
AUM 20,091,189.3
pension plans, unit plans, special plans, health including five individual, two group and one
plans, withdrawn plans and micro insurance product namely Pradhanmantri Jeevan Jyoti Key Ratios
plans. Some of its plans in each of these Bima Yojana launched on behalf of GoI.
Solvency Ratio 1.6
categories include; Jeevan Pragati, Jeevan
Rakshak, Bima Diamond, Jeevan Arogya, Jeevan Net Premium Growth (%) 11.2
(As on Mar 31, 2016)

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Indias Leading BFSI Companies 2017

Max Life Insurance Company Limited

419, Bhai Mohan Singh Nagar, Railmajra, Tehsil Balachaur, District Nawanshahr -144533, Punjab
Website: www.maxlifeinsurance.com

Business Profile Plan, Max Life Monthly Income Advantage Plan Dun & Bradstreet D-U-N-S No 86-031-2378
Max Life Insurance Company Ltd (Max Life) and Max Life Group Gratuity Premier Plan. It Financials (` mn)
is a JV between Max Financial Services Ltd offers 17 products and five riders in individual
Total Income 106,645.9
and Mitsui Sumitomo Insurance Co Ltd. The insurance segment and four products and four
company started its operations in the year riders in group insurance business. In FY16, Total Premium 91,389.3
2001. The company offers comprehensive Max Lifes gross written premium and AUM
AUM 358,049.9
range of life Insurance plans including term, grew 13% and 15% to ` 92.2 bn and ` 358.2 bn
protection, retirement, child, growth, saving respectively. During the year, its solvency ratio Key Ratios
and group plans. Some of its offerings include stood at 343%.
Solvency Ratio 3.4
Max Life Cancer Insurance Plan, Max Life Super
term Plan, Max Life Forever Young Pension Net Premium Growth (%) 12.8
(As on Mar 31, 2016)

PNB MetLife India Insurance Company Limited

Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka
Website: www.pnbmetlife.com

Business Profile plans include MetLife Mera Term Plan, MetLife Dun & Bradstreet D-U-N-S No 86-031-2381
PNB MetLife India Insurance Company Ltd Endowment Savings Plan Plus, MetLife Smart Financials (` mn)
(PNB MetLife), incorporated in 2001 is a JV Child, MetLife Smart Platinum, MetLife Group
Total Income 30,756.2
between MetLife International Holdings LLC, Term Life Plus and MetLife Grameen Ashray.
Punjab National Bank Ltd, Jammu & Kashmir It has a presence in 127 locations across the Total Premium 27,272.3
Bank Ltd, M. Pallonji and Company Pvt Ltd and country and serves customers in over 7,000
AUM 134,754.0
other private investors. It provides products locations through bank partnerships. In Sep
for individual as well as for group customers 2016, PNB MetLife launched its first online ULIP Key Ratios
such as protection plans, retirement plans, MetLife MeraWealth Plan.
Solvency Ratio 2.1
health plans, wealth plans, child plans, rural
plans and saving plans. Some of its insurance Net Premium Growth (%) 15.3
(As on Mar 31, 2016)

Reliance Nippon Life Insurance Company Limited

H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai - 400710, Maharashtra
Website: www.reliancenipponlife.com

Business Profile Builder, Smart Pension Plan, Education Plan, Dun & Bradstreet D-U-N-S No 65-045-2423
Reliance Nippon Life Insurance Company Ltd Easy Care Fixed Benefit Plan, Reliance Group Financials (` mn)
(Reliance Nippon Life), formerly known as Credit Assure Plus and reliance Group Sarv
Total Income 54,894.1
Reliance Life Insurance Company Ltd is a part Samriddhi. As on Mar 31 2016, the company
of Reliance Capital. The company caters to the had over 10 mn policy holders and operated Total Premium 43,706.4
life insurance needs of individuals, groups and through a strong distribution network of over
AUM 159,357.4
corporate through protection plans, savings & 800 branches and over 100,000 advisors.
investment plans, ULIPs, retirement plans, child Reliance Nippon Lifes claim settlement ratio Key Ratios
plans and health plans. Some of the products stood at 95% as on Mar 31 2016.
Solvency Ratio 3.0
offered by Reliance Nippon Life include Term
Plan, Increasing Income Insurance Plan, Pension Net Premium Growth (%) (4.8)
(As on Mar 31, 2016)

Sahara India Life Insurance Company Limited

Sahara India Centre ,2, Kapoorthala Complex, Lucknow 226024, UP
Website: www.saharalife.com

Business Profile include Sahara Shrestha Nivesh Jeevan Bima, Dun & Bradstreet D-U-N-S No 91-821-0324
Sahara India Life Insurance Company Ltd Sahara Shubh Nivesh Jeevan Bima, Sahara Dhan Financials (` mn)
(SILICL) was established by the Sahara Pariwar Sanchay Jeevan Bima, Sahara Samooh Suraksha,
Total Income 2,133.2
in the year 2004. The company operates as Sahara Pay Back Jeevan Bima, Sahara Utkarsh
a wholly owned Indian private life insurance Jeevan Bima and Sahara Sanchit - Jeevan Bima Total Premium 1,569.7
company without any foreign collaboration. among others. As on Mar 31 2016, the solvency
AUM 11,424.8
The company offers a wide variety of insurance margin of SILICL stood at 8.04. In FY16, the
products for individuals and groups. SILICL offers company settled 41,277 claims. Key Ratios
a wide range of endowment, term insurance,
Solvency Ratio 8.0
annuity, riders, money back, unit link and group
insurance plans. Some products of the company Net Premium Growth (%) (5.9)
(As on Mar 31, 2016)

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 Indias Leading BFSI Companies 2017

SBI Life Insurance Company Limited

Natraj, M.V. Road & Western Express Highway Junction, Andheri (East), Mumbai - 400 069, Maharashtra
Website: www.sbilife.co.in

Business Profile Anand and SBI Life Smart Elite. In FY16, Dun & Bradstreet D-U-N-S No 65-053-5284
SBI Life Insurance Company limited (SBI Life) is a AUM of company grew 12% to ` 798.3 bn and Financials (` mn)
JV between State Bank of India and BNP Paribas its claim settlement ratio improved to 95.8%
Total Income 194,448.5
Cardif S.A. The company offers life insurance from 92.4% in FY15. During the year, SBI Life
plans for individual and groups including ULIPs, launched various new products such as SBI Life Total Premium 156,654.5
child, retirement, saving, protection plans, - Smart Woman Advantage Plan, SBI Life - CSC
AUM 794,557.1
group loan protection products, corporate Saral Sanchay, SBI Life - Smart Humsafar and SBI
solutions and group micro insurance plans. Life - eWealth Insurance. Key Ratios
Some insurance products offered by the
Solvency Ratio 2.1
company include SBI Life Smart Privilege,
SBI Life Smart Scholar, SBI Life Saral Maha Net Premium Growth (%) 22.6
(As on Mar 31, 2016)

Shriram Life Insurance Company Limited

Ramky Selenium, Plot No:31 & 32, Beside Andhra Bank Training Centre, Financial District, Gachibowli, Hyderabad-500032, India
Website: www.shriramlife.com

Business Profile Protection Plan, Cash Back Term, Immediate Dun & Bradstreet D-U-N-S No 67-553-5141
Shriram Life Insurance Company Ltd (Shriram Annutiy Plus, Ujjwal Life, Shriram Life Growth Financials (` mn)
Life) is a JV between the Shriram Group and Plus and New Shri Vivah amongst others. As on
Total Income 11,803.3
Sanlam Group. The company was incorporated Jun 30, 2016, Shriram Life operated through a
in the year 2005 and commenced operations network of 533 branches across the country. In Total Premium 10,198.7
in 2006. The company offers various insurance FY16, the company sold 0.27 mn policies and
AUM 25,394.0
plans such as term plans, savings plan, ULIP, recorded y-o-y growth of 38% in gross premium
pension plans, child plans, women plans, income. Key Ratios
endowment plans, traditional plans, micro
Solvency Ratio 2.4
plans, protection plans and group plans. Some
of the products include Shriram Life Family Net Premium Growth (%) 39.2
(As on Mar 31, 2016)

Star Union Dai-ichi Life Insurance Company Limited

11th Floor, Vishwaroop I.T. Park, Plot No. 34, 35 & 38, Sector: 30A of IIP, Vashi, Navi Mumbai 400 703, Maharashtra
Website: www.sudlife.in

Business Profile riders. In FY16, AUM of SUD Life increased by Dun & Bradstreet D-U-N-S No 67-739-1136
Star Union Dai-ichi Life Insurance Company 5.1% to ` 58.2 bn and its claim settlement ratio Financials (` mn)
Ltd (SUD Life) was established as a JV between stood at 90.6%. The company recorded growth
Total Income 14,477.2
Bank of India, Union Bank of India and The Dai- of 4% and 29% in new business premium and
ichi Life Insurance Company Ltd, Japan. The renewal premium income respectively in FY16. Total Premium 12,776.6
company offers various insurance products During the year, the company forayed into
AUM 55,956.5
for individuals and groups. For individuals, it health segment with the launch of major illness
provides a variety of products under protection, product, Aarogyam. Key Ratios
child, health, savings, retirement, wealth and
Solvency Ratio 1.9
withdrawn plans. For groups it offers retirement,
credit life, term and group accidental benefit Net Premium Growth (%) 13.0
(As on Mar 31, 2016)

Tata AIA Life Insurance Company Limited

14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai 400013, Maharashtra
Website: www.tataaia.com

Business Profile of Premium Plus Rider. As on Mar 31 2016, Dun & Bradstreet D-U-N-S No 91-958-7233
Tata AIA Life Insurance Company Ltd (Tata AIA the company recorded solvency margin ratio Financials (` mn)
Life), a JV between Tata Sons and AIA Group Ltd of 348%. Some of the new products launched
Total Income 32,446.5
commenced its business operations in Apr 2001. by Tata AIA Life in FY16 include Tata AIA Life
The company offers various insurance solution Insurance Smart 7, Tata AIA Life Insurance Total Premium 24,358.0
for individuals under protection, wealth, saving, Money Back Plus, Tata AIA Life Insurance
AUM 189,876.9
child, health, retirement, group, micro and Insta Wealth Plan and Tata AIA Life Insurance
riders. Some of the offerings include Tata AIA InvestOne. Key Ratios
Life Insurance Secure 7, Tata AIA Life Insurance
Solvency Ratio 3.5
Good Kid, Tata AIA Life Insurance Group Total
Suraksha, and Tata AIA Life Insurance Waiver Net Premium Growth (%) 15.6
(As on Mar 31, 2016)

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Indias Leading BFSI Companies 2017

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Total Premium
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Total Premium
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Total Premium
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Total Premium
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

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About Union Bank of India
Union Bank of India is the 5th largest
Nationalized Bank in India by assets,
with a pan-India presence. Established
in the year 1919 and having its rst
head oce inaugurated by the Father
of the Nation, Mahatma Gandhi,
Union Bank oers products and
services for retail, agriculture, MSME,
large corporate and NRI customers.
The Bank has 4,237 branches, which
include four overseas branches and
7,496 ATMs, dedicated call centres
operating 24*7 in 9 languages and
digital channels like internet banking,
mobile banking and social media, viz.
Facebook and Twitter. The Bank has
a business mix of ` 656,819 crore,
with deposits of ` 379,807 crore and
advances of ` 277,012 crore as of
December, 2016.
Union Bank oers a host of digital
banking services to customers. The
Bank oers Digipurse, a mobile wallet The Bank has a joint venture in the
with features like Bill Payment, DTH
Recharge, Mobile Recharge, online
and fund transfers, M-Passbook, app-
based passbook, Union Sele, app-
based account opening and Ucontrol,
app-based credit card control. Bringing
more convenience to customers, the
Banks Union Xperience branches The Banks eorts have been
provides automated facilities such as
self-service passbook printing, cheque
deposit machines, phone banking hot-
lines, etc. The Bank has taken several
other digital initiatives: IMPS through
branches ours is the rst Bank to
do so, missed call facility for Mobile
Banking and Account Balance; SMS-
based value added services. Further,
keeping pace with Indias Digital
transformation, the Bank in association
with Visa has launched Business
Debit Card, Usecure Credit Card and
Signature Credit Card. Union Bank was
the rst amongst large public sector
banks (PSBs) which implemented 100
per cent core banking solution (CBS).
Union Bank is actively raising its
international prole through overseas
branches and representative oces.
It has four foreign branches - at Hong
Kong, Dubai International Financial
Centre (UAE), Antwerp (Belgium) and
Sydney (Australia) and one wholly
owned subsidiary at London (UK). The
Bank also has representative oces
at Shanghai (China), Abu Dhabi (UAE)
and Beijing (China). Union Bank has
positioned itself as a prime remittance
service provider for expatriates.
life insurance space with Bank of India
and Dai-ichi Life Insurance Co of Japan
as Star Union Dai-ichi Life Insurance
Company. It has a subsidiary for the
asset management business, Union
Asset Management Company.
acknowledged through various
awards by well established names
across all the major segments
including HR & Training, Digital,
Corporate Governance, Vigilance,
Financial Inclusion and Information &
Technology.
Indias Leading BFSI Companies 2017 Total Income Listing 123

Indias Leading BFSI Companies 2017

Sr No Company Name Type Total Income (` mn)
1 The New India Assurance Company Limited Public Sector 189,688.4
2 National Insurance Company Limited Public Sector 145,802.2
3 United India Insurance Company Limited Public Sector 126,660.5
4 The Oriental Insurance Company Limited Public Sector 91,703.8
5 ICICI Lombard General Insurance Company Limited Private Sector 60,335.3
6 Bajaj Allianz General Insurance Company Limited Private Sector 50,770.4
7 IFFCO-TOKIO General Insurance Company Limited Private Sector 32,424.7
8 Reliance General Insurance Company Limited Private Sector 25,249.2
9 Tata AIG General Insurance Company Limited Private Sector 23,998.5
10 Agriculture Insurance Company of India Limited Public Sector 22,768.0
(Specialised Insurer)
11 HDFC ERGO General Insurance Company Limited Private Sector 20,694.7
12 Cholamandalam MS General Insurance Company Limited Private Sector 20,174.6
13 Shriram General Insurance Company Limited Private Sector 19,918.8
14 Royal Sundaram General Insurance Company Limited Private Sector 16,283.6
15 ECGC Limited Public Sector 16,186.4
(Specialised Insurer)
16 Star Health and Allied Insurance Company Limited Private Sector 15,962.0
(Standalone Health Insurer)
17 SBI General Insurance Company Limited Private Sector 14,704.9
18 Bharti AXA General Insurance Company Limited Private Sector 13,916.6
19 Future Generali India Insurance Company Limited Private Sector 12,859.0
20 Apollo Munich Health Insurance Company Limited Private Sector 8,473.8
(Standalone Health Insurer)
21 Universal Sompo General Insurance Company Limited Private Sector 6,292.0
22 Magma HDI General Insurance Company Limited Private Sector 4,514.5
23 Max Bupa Health Insurance Company Limited Private Sector 4,363.2
(Standalone Health Insurer)
24 HDFC General Insurance Limited Private Sector 3,448.9
25 Liberty Videocon General Insurance Company Limited Private Sector 3,437.7
26 Religare Health Insurance Company Limited Private Sector 3,216.3
(Standalone Health Insurer)
27 Cigna TTK Health Insurance Company Limited Private Sector 847.3
(Standalone Health Insurer)
28 Raheja QBE General Insurance Company Limited Private Sector 429.4

Re-Insurance
Sr No Company Name Total Income (` mn)

1 General Insurance Corporation of India 197,187.0

124 Total Income Listing Indias Leading BFSI Companies 2017

Public Sector Insurance Companies

Sr No Company Name Total Income (` mn)

1 The New India Assurance Company Limited 189,688.4
2 National Insurance Company Limited 145,802.2
3 United India Insurance Company Limited 126,660.5
4 The Oriental Insurance Company Limited 91,703.8
5 Agriculture Insurance Company of India Limited 22,768.0
6 ECGC Limited 16,186.4

Re-Insurance
Sr No Company Name Total Income (` mn)

1 General Insurance Corporation of India 197,187.0

Private Sector Insurance Companies

Sr No Company Name Total Income (` mn)

1 ICICI Lombard General Insurance Company Limited 60,335.3
2 Bajaj Allianz General Insurance Company Limited 50,770.4
3 IFFCO-TOKIO General Insurance Company Limited 32,424.7
4 Reliance General Insurance Company Limited 25,249.2
5 Tata AIG General Insurance Company Limited 23,998.5
6 HDFC ERGO General Insurance Company Limited 20,694.7
7 Cholamandalam MS General Insurance Company Limited 20,174.6
8 Shriram General Insurance Company Limited 19,918.8
9 Royal Sundaram General Insurance Company Limited 16,283.6
10 Star Health and Allied Insurance Company Limited 15,962.0
11 SBI General Insurance Company Limited 14,704.9
12 Bharti AXA General Insurance Company Limited 13,916.6
13 Future Generali India Insurance Company Limited 12,859.0
14 Apollo Munich Health Insurance Company Limited 8,473.8
15 Universal Sompo General Insurance Company Limited 6,292.0
16 Magma HDI General Insurance Company Limited 4,514.5
17 Max Bupa Health Insurance Company Limited 4,363.2
18 HDFC General Insurance Limited 3,448.9
19 Liberty Videocon General Insurance Company Limited 3,437.7
20 Religare Health Insurance Company Limited 3,216.3
21 Cigna TTK Health Insurance Company Limited 847.3
22 Raheja QBE General Insurance Company Limited 429.4
Indias Leading BFSI Companies 2017
TD BANK LEVERAGES AN INSTANT ISSUANCE
SOLUTION TO HELP ACHIEVE GOAL OF BEING
AMERICAS MOST CONVENIENT BANK
CUSTOMER PROFILE
TD Bank is one of the 10 largest banks in the U.S., with approximately 26,000 employees and deep roots in the community dating back
more than 150 years. The Bank offers a broad array of retail, small business and commercial banking products and services to more
than 8.5 million customers through its extensive network of more than 1,200 convenient locations throughout the Northeast, Mid- Atlantic,
Metro D.C., the Carolinas and Florida.
CHALLENGE: TD Bank prides itself on
providing top-notch customer service
and strives to create the most convenient
customer experience possible. In 2008, the
Bank realized that offering instant issuance
of new and replacement debit cards in
branch locations would bring a new level of
convenience to their customers and provide
the Bank with a competitive advantage.
SOLUTION: By implementing an instant
issuance program featuring state-of-the-art
Entrust Datacard CardWizard issuance
software and Entrust Datacard instant
issuance systems with associated supplies,
TD Bank now offers instant issuance of new
and replacement debit cards across all of
their 1,200+ locations.
RESULTS: TD Bank created an unforgettable
customer experience by instantly offering new
and replacement debit cards utilizing the
proven Entrust DatacardTM instant issuance
solution. Their instant issuance offering has
become a customer expectation and a staple
to the wide range of services that the Bank
has to offer.
Bank Human If Something Matters to
Humans, it Matters to TD Bank.
TD Bank is committed to building
human experiences through real advice
TRANSFORM YOUR BRANCH
SELECTION
N
PI
T
OUN OPEN
CC
A
IN
NEW
G
and connection. Theyre dedicated to
the community, to diversity and to the
environment. The Bank is focused on always
being more customer centric, more human
and more convenient than any other bank.
To meet their customers expectations of
being Americas Most Convenient Bank,
the Bank has deployed several strategies
including longer hours, keeping branches
open on weekends, mobile and online
banking options as well as instant issuance
of permanent new or replacement debit
cards in the branch.
Enhancing the In-Branch Customer
Experience
TD Bank was an early adopter of instant
issuance being one of the rst banks out
of the top 100 largest banks in the U.S. to
implement an instant issuance program.
They began their instant card issuance
program in 2008 by implementing Entrust
Datacard instant issuance solution in 1,000
locations. This allowed the Bank to instantly
issue new and replacement debit cards in the
branch, thereby increasing overall customer
satisfaction.
With Entrust Datacard instant issuance
solution, TD customers enjoy instant access to
permanent debit cards giving them immediate
Instant Debit & Credit Cards
V ISSUA
EM
Total Income Listing 125
purchasing power as soon as they leave the
branch.
Our customers have come to rely on our
instant issuance offering. They expect instant
access to new, lost or stolen debit cards and
the Entrust Datacard solution allows us to
deliver this service, said Aravind Immaneni,
Head of Retail Distribution Strategy and
Operations, TD Bank.
TD Bank chose to partner with Entrust Datacard
for a variety of reasons most importantly,
the Bank needed a reliable solution that they
could trust and Entrust Datacard offered the
most proven solution in the industry.
Future Plans
After successfully launching their instant
issuance program in 2008, TD Bank has
expanded the offering to more than 1,200
locations. Later this year, the Bank will
migrate their solution to issue permanent,
EMV debit cards.
Due to the outstanding success the Bank
has seen with their instant issuance debit
card program, they have decided to roll
out instant issuance of EMV credit cards in
the next several months. This is a natural
extension of our program and Im condent
it will give us an edge over our competition,
said Immaneni.
N
CE
Y
ENC CARD
RG
E
RE
EM
PLA MEN
CE
T
Indias Leading BFSI Companies 2017 Net Premium Earned Listing 127

Indias Leading BFSI Companies 2017

Sr No Company Name Type Net Premium Earned (` mn)
1 The New India Assurance Company Limited Public Sector 149,598.3
2 National Insurance Company Limited Public Sector 107,913.8
3 United India Insurance Company Limited Public Sector 100,228.7
4 The Oriental Insurance Company Limited Public Sector 70,239.0
5 ICICI Lombard General Insurance Company Limited Private Sector 48,216.2
6 Bajaj Allianz General Insurance Company Limited Private Sector 42,236.5
7 IFFCO-TOKIO General Insurance Company Limited Private Sector 28,049.5
8 Tata AIG General Insurance Company Limited Private Sector 20,627.4
9 Reliance General Insurance Company Limited Private Sector 19,994.0
10 Agriculture Insurance Company of India Limited Public Sector 18,622.3
(Specialised Insurer)
11 HDFC ERGO General Insurance Company Limited Private Sector 17,085.4
12 Cholamandalam MS General Insurance Company Limited Private Sector 16,908.0
13 Star Health and Allied Insurance Company Limited Private Sector 15,138.7
(Standalone Health Insurer)
14 Shriram General Insurance Company Limited Private Sector 14,810.6
15 Royal Sundaram General Insurance Company Limited Private Sector 13,900.2
16 SBI General Insurance Company Limited Private Sector 12,068.9
17 Bharti AXA General Insurance Company Limited Private Sector 11,582.2
18 Future Generali India Insurance Company Limited Private Sector 10,814.4
19 ECGC Limited Public Sector 9,789.4
(Specialised Insurer)
20 Apollo Munich Health Insurance Company Limited Private Sector 7,749.0
(Standalone Health Insurer)
21 Universal Sompo General Insurance Company Limited Private Sector 5,305.6
22 Max Bupa Health Insurance Company Limited Private Sector 3,931.1
(Standalone Health Insurer)
23 Magma HDI General Insurance Company Limited Private Sector 3,732.2
24 HDFC General Insurance Limited Private Sector 2,978.3
25 Liberty Videocon General Insurance Company Limited Private Sector 2,963.0
26 Religare Health Insurance Company Limited Private Sector 2,877.3
(Standalone Health Insurer)
27 Cigna TTK Health Insurance Company Limited Private Sector 709.6
(Standalone Health Insurer)
28 Raheja QBE General Insurance Company Limited Private Sector 214.9

Re-Insurance
Sr No Company Name Net Premium Earned (` mn)

1 General Insurance Corporation of India 151,728.4

Indias Leading BFSI Companies 2017

Agriculture Insurance Company of India Limited

Ambadeep, 13th Floor, 14, Kasturba Gandhi Marg, New Delhi - 110001, Delhi
Website: www.aicofindia.com

Business Profile insurance, grapes insurance, bio fuel tree plant Dun & Bradstreet D-U-N-S No 65-004-8122
Agriculture Insurance Company of India Ltd (AIC) insurance scheme, coconut palm insurance Financials (` mn)
was incorporated in Dec 2002 and commenced scheme, potato insurance, pulpwood insurance,
Total Income 22,768.0
business from Apr 2003. The company is and rubber plantation insurance among others.
primarily engaged in implementation National AIC has various channel partners including Net Premium Earned 18,622.3
Agriculture Insurance Scheme and undertaking corporate agents, financial institutions, Krishi
AUM 61,229.0
other insurance businesses directly or indirectly Bima Sansthan and micro insurance agents.
related to agriculture and its allied activities. In FY16, AIC recorded gross direct premium of Key Ratios
Few of the agriculture insurance schemes ` 35.2 bn registering y-o-y growth of 22.2%. As
Solvency Ratio 3.3
offered by AIC include weather based crop on Mar 31 2016, solvency ratio of the company
insurance scheme, apple insurance, wheat grew to 3.26 compared to 3.18 in FY15. Net Premium Growth (%) 16.5
(As on Mar 31, 2016)

Apollo Munich Health Insurance Company Limited

Apollo Hospitals Complex, Jubilee Hills, Hyderabad - 500033, Telangana
Website: www.apollomunichinsurance.com

Business Profile Optima Super and Maxima amongst others. Dun & Bradstreet D-U-N-S No 67-593-6974
Apollo Munich Health Insurance Company Ltd It also offers Easy Travel Insurance for family Financials (` mn)
(Apollo Munich) is a JV between The Apollo and individual in addition to a unique Annual
Total Income 8,473.8
Hospitals Group, its associates and Munich MultiTrip Easy Travel Insurance Plan. Apollo
Health. The company operates as a health Munich offers Premium Plan and Standard Plan Net Premium Earned 7,749.0
insurer and offers health, personal accident and under personal accident insurance solutions.
AUM 8,804.8
travel insurance solutions on a pan India basis. The company has a network of 25,000 agents
Under health insurance plans, it offers various across the country and also has exclusive tie- Key Ratios
plans for individuals, families and senior citizens ups with NBFCs for distributing their insurance
Solvency Ratio 1.5
which include Optima Restore, Dengue Care solutions.
Plan, Optima Cash, Optima Plus, Optima Vital, Net Premium Growth (%) 18.1
(As on Mar 31, 2016)

Bajaj Allianz General Insurance Company Limited

G.E. Plaza, Airport Road, Yerawada, Pune - 411006, Maharashtra
Website: www.bajajallianz.com

Business Profile commercial insurance, it caters to a several Dun & Bradstreet D-U-N-S No 91-844-0918
Bajaj Allianz General Insurance Company Ltd verticals ranging from SMEs to large corporate Financials (` mn)
(Bajaj Allianz GIC) is a JV between Bajaj Finserv houses and MNCs by offering insurance in areas
Total Income 50,770.4
Ltd and Allianz SE of Germany. The company of property, marine, liability, financial lines,
offers wide range of general insurance products engineering, energy, employee benefits and Net Premium Earned 42,236.5
in the areas of motor, health, travel, home international insurance. In FY16, it issued over
AUM 89,346.5
and commercial. Various insurance products 8.3 mn policies and number of claims reported
offered under home, travel, motor and health stood at 0.78 mn. Key Ratios
insurance include car insurance, two-wheeler
Solvency Ratio 2.5
insurance, house holders package policy, and
my home insurance amongst others. Under Net Premium Growth (%) 10.2
(As on Mar 31, 2016)

Bharti AXA General Insurance Company Limited

First Floor, The Ferns Icon, Survey No. 28, Next to Akme Ballet, Doddanekundi, Off Outer Ring Road, Bangalore- 560037, Karnataka
Website: www.bharti-axagi.co.in

Business Profile added insurance products such as SME package, Dun & Bradstreet D-U-N-S No 91-594-7375
Bharti AXA General Insurance Company commercial line, motor third party liability and Financials (` mn)
Ltd (Bharti AXA GIC) is a JV between Bharti commercial vehicle insurance. In FY16, Bharti
Total Income 13,916.6
Enterprises and AXA, with 51% stake held by AXA GIC settled 60,012 claims and the number
Bharti Enterprises and the rest 49% by AXA. of claims outstanding stood at 35,446. As On Net Premium Earned 11,582.2
The company commenced national operations Jun 30 2016, the company operated through a
AUM 28,402.8
in Aug 2008. The company offers wide portfolio network of 83 branches.
of insurance products in areas of car insurance, Key Ratios
two-wheeler, health insurance, critical illness
Solvency Ratio 1.6
insurance, personal accident, home and travel
insurance products. It also offers other value Net Premium Growth (%) (3.8)
(As on Mar 31, 2016)

128
 Indias Leading BFSI Companies 2017

Cholamandalam MS General Insurance Company Limited

Dare House, II Floor, N.S.C. Bose Road, Parrys, Chennai - 600001, TN
Website: www.cholainsurance.com

Business Profile Protection Plan, Chola Corporate Travel Days Dun & Bradstreet D-U-N-S No 67-563-4270
Cholamandalam MS General Insurance Company and Home Protect amongst others. In FY16, Financials (` mn)
Ltd (Chola MS) is a JV between Murugappa the company operated through a network
Total Income 20,174.6
Group and Mitsui Sumitomo Insurance Group of of 534 branches across 25 states and UTs. As
Japan. Chola MS offers a wide range of products on Mar 31 2015, AUM of Chola MS stood at Net Premium Earned 16,908.0
including accident, engineering, health, liability, ` 320.6 bn. During the year, the company made
AUM 38,748.2
marine, motor, property, travel and rural an investment of ` 80 mn for a majority stake
insurance for individuals and corporate. Some in White Data Systems India Pvt Ltd, a freight Key Ratios
of the policies offered by Chola MS include aggregator to supplement the truck lending
Solvency Ratio 1.6
Chola Tax Plus Healthline, Chola Hospital Cash business.
Healthline, Chola Protect, Chola Student Travel Net Premium Growth (%) 14.1
(As on Mar 31, 2016)

Cigna TTK Health Insurance Company Limited

401/402, Raheja Titanium, Western Express Highway, Goregaon (East), Mumbai - 400063, Maharashtra
Website: www.cignattkinsurance.in

Business Profile Care amongst others. As on Mar 31 2016, the Dun & Bradstreet D-U-N-S No 86-031-2361
Cigna TTK Health Insurance Company Ltd company operated through 16 branches and its Financials (` mn)
(Cigna TTK) is a JV between TTK Group and US- solvency ratio of the company stood at 154%.
Total Income 847.3
based Cigna Corporation which commenced In FY16, Cigna TTK launched ProHealth Cash
its business operations in 2014. Cigna TTK is designed to provide top-up, gap and base cover Net Premium Earned 709.6
a standalone health insurance company with option to varied consumer segments based
AUM 2,066.2
presence in 15 cities across the country. Some of on current coverage and overall affordability
the health insurance plans offered by Cigna TTK criteria. In Apr 2016, Cigna TTK launched Key Ratios
ProHealth Insurance, Cigna TTK Global Health pioneering health saving product solutions
Solvency Ratio 1.5
Group Policy, ProHealth Group Insurance Policy ProHealth Accumulate.
and Cigna TTK Lifestyle Protection- Accident Net Premium Growth (%) 963.1
(As on Mar 31, 2016)

ECGC Limited
Express Towers, 10th Floor, Nariman Point, Mumbai - 400021, Maharashtra
Website: www.ecgcindia.in

Business Profile schemes offered by ECGC include buyers Dun & Bradstreet D-U-N-S No 91-793-6353
ECGC Limited (ECGC), formerly known as Export credit cover, line of credit cover, factoring, Financials (` mn)
Credit Guarantee Corporation of India Ltd was overseas investment insurance and customer
Total Income 16,186.4
set up in 1957 and acquired its present name specific cover. The company also manages a
in Aug 2014. ECGC is a GoI enterprise which trust named NEIA for supporting MLT exports Net Premium Earned 9,789.4
provides export credit insurance facilities to to difficult countries. In FY16, ECGC issued
AUM 71,846.3
exporters and banks in the country. It functions and renewed 10,516 short term export credit
under the administrative control of Ministry of insurance policies and covered business worth Key Ratios
Commerce & Industry. ECGCs product portfolio ` 1,358 bn.
Solvency Ratio 9.8
comprises export credit insurance for exporter,
for banks and special schemes. The special Net Premium Growth (%) (4.0)
(As on Mar 31, 2016)

Future Generali India Insurance Company Limited

Indiabulls Finance Centre, Tower 3, 6th Floor, Elphinstone Road (W), Mumbai - 400013, Maharashtra
Website: www.general.futuregenerali.in

Business Profile social insurance products. Under commercial Dun & Bradstreet D-U-N-S No 65-030-8919
Future Generali India Insurance Company Ltd products, it offers insurance for property, Financials (` mn)
(Future Generali) is a JV between India-based engineering, liability, marine, event and
Total Income 12,859.0
Future Group and the Italy-based Generali employee benefits. Rural insurance schemes
Group. The company was incorporated in 2006 include Sampoorna Suraksha, Janata Personal Net Premium Earned 10,814.4
to carry on the business of general insurance. Accident, Cattle livestock insurance and
AUM 20,240.1
The companys product portfolio comprises Pradhan Mantri Suraksha Bima Yojana. During
of personal insurance comprising health FY16, it opened 11 new branches taking its total Key Ratios
insurance, motor insurance, travel insurance, branches to 138. As on Mar 31 2016, AUM of
Solvency Ratio 1.5
home insurance, lifestyle insurance, along with the company stood at over ` 20 bn and solvency
commercial insurance products and rural & ratio stood at 1.54. Net Premium Growth (%) 0.2
(As on Mar 31, 2016)

129
Indias Leading BFSI Companies 2017

General Insurance Corporation of India

Suraksha, 170, Jamshedji Tata Road, Churchgate, Mumbai - 400020, Maharashtra
Website: www.gicofindia.com

Business Profile energy, engineering, aviation, and liability Dun & Bradstreet D-U-N-S No 65-073-3371
General Insurance Corporation of India (GIC among others. The company has overseas Financials (` mn)
Re) was incorporated in 1972 by the GoI for presence through a representative office in
Total Income 197,187.0
controlling and carrying on the business of Moscow and branch offices in Dubai, London
general insurance. Pursuant to the IRDA Act and Malaysia. It also has subsidiaries and JVs in Net Premium Earned 151,728.4
of 1999, GIC Re was re-notified as the Indian South Africa, UK, Kenya, Singapore and Bhutan.
AUM 340,503.2
reinsurer in Nov 2000. GIC Re is engaged in In FY16, GIC Re recorded gross premium of
providing reinsurance to the direct general ` 184.4 bn and solvency ratio of the corporation Key Ratios
insurance companies in the domestic market. stood at 3.48 as on Mar 31 2016.
Solvency Ratio 3.5
GIC Res domestic reinsurance policies cover
areas like property, marine including hull, Net Premium Growth (%) 11.9
(As on Mar 31, 2016)

HDFC ERGO General Insurance Company Limited

1st Floor, 165-166, Backbay Reclamation, H. T. Parekh Marg, Churchgate, Mumbai - 400020, Maharashtra
Website: www.hdfcergo.com

Business Profile agriculture, cattle and Rainfall Index Insurance Dun & Bradstreet D-U-N-S No 72-557-7337
HDFC ERGO General Insurance Company Ltd for farmers safety. In FY16, the company sold Financials (` mn)
(HDFC ERGO) is a JV between HDFC Ltd and over 4.8 mn policies and operated through a
Total Income 20,694.7
ERGO International AG. HDFC ERGO offers network of 108 branches and various channel
complete range of general insurance products partners. In Jan 2017, HDFC ERGO launched Net Premium Earned 17,085.4
catering to the retail and corporate space. new policy called Trade Credit Insurance policy
AUM 41,313.0
Its offers insurance solutions in the areas of to safeguard suppliers against the risk of non-
motor, health, travel, home, personal accident payment for goods or services delivered to the Key Ratios
and certain customized products like property, buyers.
Solvency Ratio 1.7
marine and liability insurance in the corporate
space. HDFC ERGO also offers rural insurances for Net Premium Growth (%) 2.1
(As on Mar 31, 2016)

HDFC General Insurance Limited

6th Floor, Leela Business Park, Andheri Kurla Road, Andheri (E), Mumbai - 400059
Website: www.hdfcgi.com

Business Profile Personal Accident Insurance and Jeevika Cash@ Dun & Bradstreet D-U-N-S No 67-624-2994
HDFC General Insurance Ltd (HDFC General), hospital Micro Insurance, Asset Insta Home Financials (` mn)
formerly known as L&T General Insurance Insurance and Business Hospitality & Leisure
Total Income 3,448.9
Company Ltd, is wholly owned subsidiary of Insurance amongst others.
HDFC ERGO. The company provides a complete Net Premium Earned 2,978.3
range of general insurance products under
AUM 6,017.9
health, motor, home, corporate and SME
insurance serving to the needs of individuals, Key Ratios
SMEs and corporate across India. Some if its
Solvency Ratio 1.5
policies include Asset Private Car Package
Policy, Health Medisure Prime Insurance, Health Net Premium Growth (%) 44.5
(As on Mar 31, 2016)

ICICI Lombard General Insurance Company Limited

ICICI Lombard House, 414, Veer Savarkar Marg, Prabhadevi, Mumbai - 400025, Maharashtra
Website: www.icicilombard.com

Business Profile operated through a network of 257 branches Dun & Bradstreet D-U-N-S No 91-862-0469
ICICI Lombard General Insurance Company Ltd across the country. During the year, ICICI Financials (` mn)
(ICICI Lombard) is a JV between ICICI Bank Ltd Lombard issued over 15.8 mn policies and
Total Income 60,335.3
and Fairfax Financial Holding Ltd, a Canada- settled over 1.62 mn claims. In FY16, ICICI
based company. The company offers wide Lombards solvency ratio stood at 1.82 and Net Premium Earned 48,216.2
range of general insurance products in the its gross written premium stood at 83.1 bn.
AUM 112,579.1
form of motor insurance, health insurance, During the year, the company introduced the
travel insurance, home insurance, speciality Outpatient Department (OPD) health insurance Key Ratios
lines insurance, property insurance, marine offering in the form of a cashless OPD card for
Solvency Ratio 1.8
insurance, weather insurance and mass health corporate enterprises.
insurance. As on Mar 31 2016, the company Net Premium Growth (%) 13.8
(As on Mar 31, 2016)

130
 Indias Leading BFSI Companies 2017

IFFCO-TOKIO General Insurance Company Limited

IFFCO SADAN, C-1 District Centre, Saket, New Delhi 110017, Delhi
Website: www.iffcotokio.co.in

Business Profile offers niche products like Credit Insurance, Fine Dun & Bradstreet D-U-N-S No 87-181-2175
IFFCO-TOKIO General Insurance Company Ltd Arts Insurance, Errors and Omission Policy for Financials (` mn)
(IFFCO-Tokio) was incorporated in Dec 2000. the IT Sector and P & I insurance. In addition,
Total Income 32,424.7
IIFCO-Tokio is a JV between the Indian Farmers the company caters to the rural areas through
Fertilizer Co-operative (IFFCO) and its associates, its products such as Sankat Haran Bima Yojana, Net Premium Earned 28,049.5
as well as Tokio Marine and Nichido Fire Mausam Bima Yojana, Mahila Suraksha Bima
AUM 48,310.6
Group. The company offers a variety of general Yojana and Janata Bima Yojana. In FY16, IFFCO-
insurance products such as motor, health, Tokio settled 636,053 claims and sold 6.7 mn Key Ratios
travel, home insurance and other policies like policies.
Solvency Ratio 1.6
business insurance, micro & rural insurance
and speciality insurance amongst others. It also Net Premium Growth (%) 23.7
(As on Mar 31, 2016)

Liberty Videocon General Insurance Company Limited

10th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400013, Maharashtra
Website: www.libertyvideocon.com

Business Profile benefits, group health insurance, marine and Dun & Bradstreet D-U-N-S No 65-066-0975
Liberty Videocon General Insurance Company commercial vehicles package policy. It has Financials (` mn)
Ltd (Liberty Videocon) is a JV between Videocon risk engineering cell with specialists in areas
Total Income 3,437.7
Industries Ltd and Liberty Citystate Holdings Pte like fire protection, industrial safety, liability,
Ltd. Liberty Videocon provides comprehensive transportation, equipment breakdown, and Net Premium Earned 2,963.0
private, commercial and industrial insurance business continuity to help effective risk control
AUM 5,136.1
solutions. Under personal insurance, the solutions. In Aug 2016, Liberty Videocon
company offers covers for private cars, two- launched multi-year two-wheeler package Key Ratios
wheelers and health. Under the corporate policy and in Jan 2017 it expanded its health
Solvency Ratio 2.2
solutions segment, it offers insurance policies insurance portfolio with the launch of new
pertaining to engineering, property, employee super top-up plan Healthconnect Supra. Net Premium Growth (%) 54.3
(As on Mar 31, 2016)

Magma HDI General Insurance Company Limited

Magma House, 24 Park Street, Kolkata- 700016, WB
Website: www.magma-hdi.co.in

Business Profile risk policy that is designed to cover valuable Dun & Bradstreet D-U-N-S No 65-061-5383
Magma HDI General Insurance Company Ltd movable equipment and certain personal Financials (` mn)
(Magma HDI General) was incorporated in 2009 effects like laptops, mobile phones, jewellery,
Total Income 4,514.5
as a JV between Magma Fincorp Ltd and HDI- etc., that are not confined to homes and are
Gerling International Holding AG, Germany. The vulnerable to both, natural perils as well as Net Premium Earned 3,732.2
company provides motor insurance policies, theft and snatching among others. In FY16, the
AUM 8,663.3
liability insurance, fire insurance, engineering company issued 0.34 mn policies and settled
insurance, marine insurance policies, burglary 35,984 claims. Key Ratios
insurance, individual personal accident policy,
Solvency Ratio 1.8
shopkeepers package policy and Householders
package policy. It also offers a product called all Net Premium Growth (%) (8.1)
(As on Mar 31, 2016)

Max Bupa Health Insurance Company Limited

B-1/I-2, Mohan Cooperative Industrial Estate, Mathura Road, New Delhi-110044, Delhi
Website: www.maxbupa.com

Business Profile Employee First Health Insurance and Group Dun & Bradstreet D-U-N-S No 87-228-8347
Max Bupa Health Insurance Company Ltd (Max Personal Accident Insurance. As on Sep 2016, Financials (` mn)
Bupa) is a JV between Max India Ltd and the UK the company operated through the network of
Total Income 4,363.2
based healthcare services expert, Bupa. Max 27 branches across the country. In FY16, Max
Bupa is engaged in providing health insurance Bupa issued 0.26 mn policies and settled 60,275 Net Premium Earned 3,931.1
and related services to its clients. The company claims.
AUM 5,661.5
offers health insurance policies namely Health
Assurance, Heartbeat and Health Companion Key Ratios
to the individuals, couple, nuclear family and
Solvency Ratio 2.2
extended family. Under the corporate segment,
the company offers Group Health Insurance, Net Premium Growth (%) 24.7
(As on Mar 31, 2016)

131
Indias Leading BFSI Companies 2017

National Insurance Company Limited

3 Middleton Street, Prafulla Chandra Sen Sarani, Kolkata - 700071, WB
Website: www.nationalinsuranceindia.nic.co.in

Business Profile insurance policies under motor, health, personal, Dun & Bradstreet D-U-N-S No 65-028-1488
National Insurance Company Ltd (NIC) was rural, machinery, electronic equipment, fire Financials (` mn)
incorporated in 1906. In 1972, in line with the & special perils and shopkeepers insurance.
Total Income 145,802.2
General Insurance Business Nationalisation The company operated through a network of
Act, 21 foreign and 11 Indian companies 1,995 branches including 1,859 urban and 136 Net Premium Earned 107,913.8
were amalgamated with the company and rural branches across the country. As on Mar 31
AUM 171,424.7
subsequently NIC was made a subsidiary of GIC. 2016, the solvency ratio of NIC stood at 126%.
Presently, it operates as a GoI undertaking. NIC Key Ratios
provides a variety of general insurance products
Solvency Ratio 1.3
for individual, rural, industrial and commercial
customers. The company offers various Net Premium Growth (%) 9.0
(As on Mar 31, 2016)

The New India Assurance Company Limited

New India Building, 87, M.G. Road, Fort, Mumbai - 400001, Maharashtra
Website: www.newindia.co.in

Business Profile Suhana Safar Policy, Jewellers Block Policy, Dun & Bradstreet D-U-N-S No 86-213-1364
The New India Assurance Company Ltd (New Bankers Indemnity Policy, Marine Cargo Policy, Financials (` mn)
India Assurance) was incorporated in 1919 by Electronics Equipment Policy, Mega Package
Total Income 189,688.4
the Tata Group. In 1973, New India Assurance Policies and Consequential Loss Policy among
was nationalised with the merger of other others. As on Mar 31 2016, New India Assurance Net Premium Earned 149,598.3
Indian companies. New India Assurance offers operated through 2,329 offices in India and 16
AUM 261,805.5
a wide range of insurance products under branch and agency offices overseas. In FY16,
personal, commercial, industrial, liability and the company recorded gross direct premium of Key Ratios
social insurance. Some of the policies offered ` 151.5 bn registering a y-o-y growth of 15%.
Solvency Ratio 2.3
by New India Assurance include Rasta Apatti
Kavach, Householders Policy, Motor Policy, Net Premium Growth (%) 12.4
(As on Mar 31, 2016)

The Oriental Insurance Company Limited

Oriental House, A-25/27, Asaf Ali Road, New Delhi 110002, Delhi
Website: www.orientalinsurance.org.in

Business Profile plants, petrochemical, steel and chemical Dun & Bradstreet D-U-N-S No 65-010-8491
The Oriental Insurance Company Ltd (Oriental plants. It also has international presence with Financials (` mn)
Insurance) was incorporated in Sep 1947. The offices in Nepal, Kuwait and Dubai. As on Mar
Total Income 91,703.8
company offers a vast portfolio of insurance 31 2016, the solvency margin of the company
products such as motor insurance, health stood at 1.59. In FY16, Oriental Insurance Net Premium Earned 70,239.0
insurance, shopkeepers & householders recorded y-o-y growth of 13.9% and 16.5% in
AUM 122,142.7
insurance, fire, marine hull, engineering, gross premium and net premium respectively.
aviation, liability, agriculture and personal Under reinsurance operations, its net to gross Key Ratios
accident insurance, among others. The ratio increased to 87.6% in FY16 compared to
Solvency Ratio 1.6
company also specializes in devising special 85.6% in FY15.
insurance covers for large projects like power Net Premium Growth (%) 9.3
(As on Mar 31, 2016)

Raheja QBE General Insurance Company Limited

Windsor House, 5th Floor, CST Road Kalina, Santacruz (East) Mumbai - 400098, Maharashtra
Website: www.rahejaqbe.com

Business Profile and health insurance. Raheja QBE also offers a Dun & Bradstreet D-U-N-S No 85-904-0673
Raheja QBE General Insurance Company Ltd range of business insurance solutions including Financials (` mn)
(Raheja QBE) is a JV promoted by Prism Cement accident, commercial packages, commercial
Total Income 429.4
Ltd, India and QBE Holdings (AAP) Pty Ltd, a property, construction & engineering, general
wholly owned subsidiary of QBE Insurance liability, marine, motor, professional liability and Net Premium Earned 214.9
Group Ltd. The company offers a range of workers compensation amongst other. As on
AUM 2,554.5
personal insurance products specifically Jun 30, 2016 solvency margin of the company
designed to meet the needs of individuals stood at 441%. Key Ratios
and families. Some of the personal insurance
Solvency Ratio 4.4
products offered by Raheja QBE include
personal accident, cattle, domestic property Net Premium Growth (%) 10.1
(As on Mar 31, 2016)

132
 Indias Leading BFSI Companies 2017

Reliance General Insurance Company Limited

Reliance Centre, 19 Walchand Hirachand Marg, Mumbai - 400001, Maharashtra
Website: www.reliancegeneral.co.in

Business Profile The company also offers travel insurance Dun & Bradstreet D-U-N-S No 65-037-3256
Reliance General Insurance Company Ltd for overseas travel, annual multi-trip, senior Financials (` mn)
(Reliance General), a subsidiary of Reliance citizens and Schengen travel insurance. It also
Total Income 25,249.2
Capital commenced was incorporated in the caters to the corporate and SME segment by
year 2000. The company provides insurance providing insurance policies in areas of fire, Net Premium Earned 19,994.0
products to cover motor, health, travel, office, marine, package, burglary and group mediclaim
AUM 53,953.3
travel and home insurance. Under health among others. During the year FY16, Reliance
insurance the company provides healthgain, General managed 6,000 commercial line claims Key Ratios
wellness and personal accident policies while and its underwritten gross direct premium
Solvency Ratio 1.6
under motor incusrance it provides car, two stood at ` 27.9 bn.
wheeler and commercial vehicles insurance. Net Premium Growth (%) 4.2
(As on Mar 31, 2016)

Religare Health Insurance Company Limited

5th Floor, 19, Chawla House, Nehru Place, New Delhi-110019
Website: www.religarehealthinsurance.com

Business Profile illness health insurance and personal accident Dun & Bradstreet D-U-N-S No 65-047-1795
Religare Health Insurance Company Ltd (Religare insurance. Under travel insurance it provides Financials (` mn)
Health) is jointly owned by Religare Enterprises international travel and health insurance for
Total Income 3,216.3
Ltd, Union Bank of India and Corporation Bank. students. It has an association with over 4,900
Religare Health is engaged in the distribution hospitals across India for cashless treatment Net Premium Earned 2,877.3
and servicing of health insurance products and to ease the claim process. Religare Health
AUM 4,533.0
for individuals, families and senior citizens. At operates through 56 offices across the country.
a broad level, the company provides health Key Ratios
insurance policies, travel insurance and fixed
Solvency Ratio 1.9
benefit insurance policies. Under health
insurance, it offers maternity, new born, critical Net Premium Growth (%) 87.2
(As on Mar 31, 2016)

Royal Sundaram General Insurance Company Limited

No.21,Patullos Road,Chennai - 600 002
Website: www.royalsundaram.in

Business Profile specialised insurance products in fire, marine, Dun & Bradstreet D-U-N-S No 87-180-4474
Royal Sundaram General Insurance Company engineering, liability and business interruption Financials (` mn)
Ltd (Royal Sundaram), formerly known as Royal risks for commercial customers. As on Mar 31
Total Income 16,283.6
Sundaram Alliance Insurance Company Ltd, 2016, Royal Sundaram operated through 116
was a JV between Sundaram Finance Ltd India branches across the country and its solvency Net Premium Earned 13,900.2
and Royal & SunAlliance Plc London. In Jul ratio stood at 155%. In FY16, the company
AUM 27,183.4
2015, the company acquired its present name settled 94,594 claims. In Aug 2016, Royal
subsequent to the acquisition of 26% stake by Sundaram launched Lifeline, its flagship health Key Ratios
Sundaram Finance. The company offers motor, insurance product in UP.
Solvency Ratio 1.6
health, personal accident, home and travel
Insurance for individual customers along with Net Premium Growth (%) 6.6
(As on Mar 31, 2016)

SBI General Insurance Company Limited

Natraj, 101-201-301, Andheri (East), Mumbai - 400069, Maharashtra
Website: www.sbigeneral.in

Business Profile liability, group health, group personal accident Dun & Bradstreet D-U-N-S No 85-955-7863
SBI General Insurance Company Ltd (SBI & miscellaneous insurance. It also has various Financials (` mn)
General) is a JV between the State Bank of India offerings under the rural segment such as cattle
Total Income 14,704.9
and Insurance Australia Group. The company insurance, agriculture pumpset insurance,
caters to the individual segment through micro insurance and sheep & goat insurance. Net Premium Earned 12,068.9
its offerings that include home insurance, As on Mar 31, 2016, the company operated
AUM 33,046.2
personal accident insurance, travel insurance, through 110 branches across the country and
health insurance and motor insurance for its solvency ratio stood at 200%. Key Ratios
private car & two-wheeler. Under the business
Solvency Ratio 1.8
insurances, the company offers aviation, fire,
marine, package, construction & engineering, Net Premium Growth (%) 32.4
(As on Mar 31, 2016)

133
Indias Leading BFSI Companies 2017

Shriram General Insurance Company Limited

E-8, EPIP, RIICO Industrial Area, Sitapura, Jaipur - 302022, Rajasthan
Website: www.shriramgi.com

Business Profile insurance, liability insurance, Shri Suraksha Dun & Bradstreet D-U-N-S No 67-619-0179
Shriram General Insurance Company Ltd (Shriram insurance, householders umbrella package Financials (` mn)
General) operated as a 74:26 JV between insurance, shopkeeper umbrella package
Total Income 19,918.8
Shriram Capital Ltd and Sanlam Ltd, South Africa insurance, personal accident insurance, fidelity
till Sep 2012. Presently, it is a part of Shriram guarantee policy, burglary insurance, all risk Net Premium Earned 14,810.6
Capital Ltd. The company is engaged in the insurance and business protector policy. As on
AUM 60,197.1
business of providing general insurance in the Mar 2016, the company operated through 135
areas of car insurance, two-wheeler insurance, branches across the country and its solvency Key Ratios
commercial vehicle insurance, business and ratio stood at 198%.
Solvency Ratio 2.0
home insurance among others. It also offers
fire insurance, engineering insurance, marine Net Premium Growth (%) 6.2
(As on Mar 31, 2016)

Star Health and Allied Insurance Company Limited

No. 1, New Tank Street, Valluvarkottam High Road, Nungambakkam, Chennai - 600034, TN
Website: www.starhealth.in

Business Profile Care, Star Micro Health, Star Wedding Gift, Star Dun & Bradstreet D-U-N-S No 67-558-4088
Star Health and Allied Insurance Company Ltd Family Delite and Star Net Plus. The company Financials (` mn)
(Star Health) commenced operations in the also offers combi products, overseas travel and
Total Income 15,962.0
year 2006. Star Health is primarily engaged in accident care insurance products. As on Mar
the health insurance business and caters to 2016, it operated through 320 branches spread Net Premium Earned 15,138.7
individuals, families, students and corporates. across the country. The solvency ratio of the
AUM 9,843.6
The companys health insurance product company stood at 599% as on Mar 31 2016.
portfolio includes schemes namely Star Key Ratios
Comprehensive, Family Health Optima, Senior
Solvency Ratio 6.0
Citizen Red Carpet Health, Super Surplus, Star
Unique Health, Star Criticare Plus, Star Cardiac Net Premium Growth (%) 48.7
(As on Mar 31, 2016)

Tata AIG General Insurance Company Limited

Peninsula Business Park, Tower A, G. K. Marg, Lower Parel, Mumbai - 400013, Maharashtra
Website: www.tataaiginsurance.in

Business Profile & restaurants, livestock, cattle, marine, fire Dun & Bradstreet D-U-N-S No 87-177-6091
Tata AIG General Insurance Company Ltd (Tata & engineering, housing society and package Financials (` mn)
AIG General), a JV between the Tata Group and insurance among others. As on Mar 31 2016,
Total Income 23,998.5
American International Group, commenced the company had a network of 103 branches
operations in 2001. Tata AIG General offers across the country and its solvency ratio stood Net Premium Earned 20,627.4
wide range of general insurance products under at 166%. In FY16, Tata AIG General issued
AUM 37,018.6
personal, small business, corporate, rural and 293,274 policies and collected premium worth
private client group segments. The companys ` 4.85 bn. Key Ratios
policy portfolio includes motor, travel, health,
Solvency Ratio 1.7
individual personal accident, home, lifestyle,
property, shop, education institutes, hotel Net Premium Growth (%) 14.5
(As on Mar 31, 2016)

United India Insurance Company Limited

24, Whites Road, Chennai - 600014, TN
Website: www.uiic.co.in

Business Profile travel, personal accident, fire, health, liability, Dun & Bradstreet D-U-N-S No 65-011-7526
United India Insurance Company Ltd (UIIC) credit, micro and other miscellaneous insurance Financials (` mn)
was incorporated in 1938. Pursuant to the such as business policies, package policies and
Total Income 126,660.5
nationalisation of general insurance business in social policies among others. As on Mar 2016,
India in 1972, 12 Indian Insurance companies, the company operated through a network of Net Premium Earned 100,228.7
four Cooperative Insurance Societies and Indian 2,080 offices. In FY16, UIIC introduced four new
AUM 196,653.0
operations of five Foreign Insurers, besides products namely, UNI MSME Protect Insurance
General Insurance operations of southern Policy, Shopkeepers Insurance Policy, UNI Key Ratios
region of LIC were merged with UIIC. The Product Liability insurance and UNI Executive
Solvency Ratio 1.9
company provides insurance products spanning Protect - Directors and Officers.
across the areas of marine, industrial, motor, Net Premium Growth (%) 13.7
(As on Mar 31, 2016)

134
 Indias Leading BFSI Companies 2017

Universal Sompo General Insurance Company Limited

Unit 401, 4th Floor, Sangam Complex, 127 Andheri Kurla Road, Andheri-East, Mumbai - 400059, Maharashtra
Website: www.universalsompo.com

Business Profile burglary & robbery and various other non- Dun & Bradstreet D-U-N-S No 65-058-2302
Universal Sompo General Insurance Company life packages. Some of its plans include; Saral Financials (` mn)
Ltd (Universal Sompo) is a JV between Allahabad Suraksha Bima, Aapat Suraksha Bima Policy,
Total Income 6,292.0
Bank, Indian Overseas Bank, Dabur Investment Sampoorna Swasthya Kavach, IOB Health Care
and Sompo Japan Insurance Inc. The company Policy, Senior Citizen Health Insurance Policy, Net Premium Earned 5,305.6
received the licence from IRDA in Nov 2007. and Householders Insurance among others.
AUM 10,888.8
Universal Sompo primarily deals in retail,
commercial and micro insurance segment. The Key Ratios
companys insurance products include; health &
Solvency Ratio 1.7
critical illness, personal accident, home, motor,
property, electronic equipment, fire, liability, Net Premium Growth (%) 16.3
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Premium Earned
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

xyz
xyz

Business Profile Dun & Bradstreet D-U-N-S No 00-000-0000

xyz Financials (` mn)
Total Income
Net Premium Earned
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

xyz
xyz

Business Profile Dun & Bradstreet D-U-N-S No 00-000-0000

xyz Financials (` mn)
Total Income
Net Premium Earned
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

135
Indias Leading BFSI Companies 2017

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Premium Earned
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Premium Earned
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Premium Earned
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Premium Earned
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

136
 Indias Leading BFSI Companies 2017

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Premium Earned
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Premium Earned
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Premium Earned
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Premium Earned
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

137
Indias Leading BFSI Companies 2017

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Premium Earned
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Premium Earned
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Premium Earned
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

Dun & Bradstreet D-U-N-S No

Financials (` mn)
Total Income
Net Premium Earned
AUM
Key Ratios
Solvency Ratio
Net Premium Growth (%)
(As on Mar 31, 2016)

138
 Indias Leading BFSI Companies 2017

abbreviations - Products

Term Abbreviation
American Depostiory Receipt ADR
Alternative Mortgage Instrument AMI
Asset Management Services AMS
Cash Management Services CMS
Direct Benefit Transfer DBT
Dematerialisation Demat
Demat Dematerialisation
Depository Participant DP
External Commercial Borrowings ECB
Employee Stock Ownership Plan ESOP
Exchange Traded Fund ETF
Future & Option F&O
Foreign Currency Non Resident FCNR
Financial Year FY
Global Depository Receipt GDR
High Networth Individuals HNI
Hindu Undevided Family HUF
Investment Banking IB
Indian Depository Receipt IDR
Incorporation INC
Initial Public Offer IPO
Limited Ltd
Mutual Funds MF
Non Covertible Debentures NCD
New Fund Offerings NFO
Non Resident Rupee NRE
Non-Resident Indian NRI
Non Resident Ordinary Account NRO
Priority Client Group PCG
Portfolio Management Services PMS
Private Pte
Private Pvt
Research & Advisory R&A
Request for comments RFC
Systematic Investment Plan SIP
Unit Linked Insurance Plan ULIP
Wealth Management Services WMS

139
Indias Leading BFSI Companies 2017

abbreviations - Non-Products & others

Term Abbreviation
Account A/C
Asset Management Companies AMC
Assets Under Management AUM
BSE On-Line Trading BOLT
Chartered Accountant CA
Central Cooperative Banks CCBs
Capital to Risk Asset Ratio CRAR
Computer to Computer Link CTCL
Current Year CY
Depository Participant DP
Financial Institution FI
Foreign Institutional Investor FII
Follow on Public Offer FPO
Financial Year FY
Government of India GoI
Housing Finance Company HFC
High Networth Individuals HNI
Incorporation INC
Initial Public Offer IPO
Insitutional Placement Programs IPP
Information Technology IT
Joint Venture JV
Liquid Petroleum Gas LPG
Limited Ltd
Merger and Acquisition M&A
Memorendum of Understanding MoU
Non Banking Financial Company NBFC
National Exchange for Automated Trading NEAT
New Pension Scheme NPS
Non-Resident Indian NRI

140
 Indias Leading BFSI Companies 2017

abbreviations - Non-Products & others

Term Abbreviation
Opposite Opp.
Public Private Partnership PPP
Public Sector Undertaking PSU
Private Pvt
Qualified Depository Participant QDP
Qualified Foreign Investors QFI
Qualified Institutional Placement QIP
Regional Rural Banks RRBs
State Cooperative Agriculture and Rural Development Banks SCARDBs
Schedule Commercial Bank SCB
State Cooperative Banks SCBs
Systematic Investment Plan SIP
Small and medium enterprise SME
Small and Medium Enterprise SME
Short Messaging System SMS
Share Purchase Agreement SPA
Union Territory UT
Year on Year YoY

141
Indias Leading BFSI Companies 2017

abbreviations - Institutions

Institutions Abbreviation
Ace Derivatives & Commodity Exchange ACE
Association of Mutual Funds in India AMFI
Bangalore Stock Exchange BGSE
Bank of Baroda BoB
Bombay Stock Exchange BSE
Birla Sunlife Insurance Company Limited BSLI
Central Bank of India CBI
Central Depository Services (India) Limited CDSL
Central Public Sector Enterprises CPSE
Calcutta Stock Exchange CSE
Forward Markets Commission FMC
Financial Service Authority FSA
General Insurance Corporation GIC
India Cements Capital Limited ICCL
Indian Commodity Exchange Limited ICEX
Insurance Regulatory and Development Authority IRDA
Life Insurance Corporation of India LIC
London Stock Exchange LSE
Multi Commodity Exchange of India Limited MCX
MCX Stock Exchange MCX-SX
MCX Stock Exchange Limited MCX-SX
Ministry of Micro, Small and Medium Enterprises MSME
Ministry of Micro, Small and Medium Enterprises MSME
Non-banking Finance Company NBFC
National Commodity & Derivatives Exchange Limited NCDEX
National Housing Bank NHB
National Insurance Company NIC
National Multi-Commodity Exchange of India Limited NMCE
National Securities Clearing Corporation Limited NSCCL
National Securities Depository Limited NSDL

142
 Indias Leading BFSI Companies 2017

abbreviations - Institutions

Institutions Abbreviation
National Stock Exchange of India Limited NSE
National Spot Exchange Limited NSEL
Oriental Bank of Commerce OBC
Over The Counter Exchange of India OTCEI
Reserve Bank of india RBI
State Bank of India SBI
Securities Exchange Board of India SEBI
Saurashtra Kutch Stock Exchange Limited SKSE
S.S. Kantilal Ishwarlal SSKI
Shamrao Vithal Co-op. Bank Ltd SVC Bank
United Stock Exchange USE
United Stock Exchange of India Limited USE
United Stock Exchange USX
Unit Trust of India UTI

143
Indias Leading BFSI Companies 2017

abbreviations

Month Abbreviation
January Jan
February Feb
March Mar
April Apr
May May
June June
July July
August Aug
September Sept
October Oct
November Nov
December Dec

State, Countries & Regions Abbreviation

Andhra Pradesh AP
Himachal Pradesh HP
Jammu and Kashmir J&K
Madhya Pradesh MP
Tamil Nadu TN
United Kingdom UK
Uttar Pradesh UP
United States US
West Bengal WB

144

Index
Index
A Bank of Ceylon....................................................................................... 16
A.K. Capital Services Limited................................................................. 48
AB Bank Limited.................................................................................... 14
Abu Dhabi Commercial Bank................................................................. 14
Aditya Birla Finance Limited.................................................................. 48
Aditya Birla Housing Finance Limited.................................................... 48
Aditya Birla Money Limited................................................................... 86
Aegon Life Insurance Company Limited.............................................. 114
Agriculture Insurance Company of India Limited................................ 129
Allahabad Bank...................................................................................... 14
American Express Banking Corp............................................................ 14
Andhra Bank.......................................................................................... 15
Andhra Pradesh State Financial Corporation......................................... 48
Apollo Munich Health Insurance Company Limited............................ 128
Aspire Home Finance Corporation Limited........................................... 49
Australia and New Zealand Banking Group Limited.............................. 15
Aviva Life Insurance Company India Limited....................................... 114
Axis Asset Management Company Limited........................................... 98
Axis Bank Limited.................................................................................. 15
Axis Capital Limited............................................................................... 86
Axis Finance Limited.............................................................................. 49
Axis Securities Limited........................................................................... 86
B Capital First Limited............................................................................... 50
Bajaj Allianz General Insurance Company Limited.............................. 128
Bajaj Allianz Life Insurance Company Limited..................................... 114
Bajaj Finance Limited............................................................................ 49
Bajaj Holdings & Investment Limited.................................................... 49
Balmer Lawrie Investments Limited...................................................... 50
Bandhan Bank Limited........................................................................... 15
Bank of America, N.A............................................................................ 16
Bank of Bahrain & Kuwait B.S.C............................................................. 16
Indias Leading BFSI Companies 2017
Bank of Baroda...................................................................................... 16
Bank of India.......................................................................................... 17
Bank of Maharashtra............................................................................. 17
The Bank of Nova Scotia........................................................................ 17
The Bank of Tokyo-Mitsubishi UFJ, Limited........................................... 17
Barclays Bank PLC.................................................................................. 18
Baroda Pioneer Asset Management Company Limited......................... 98
Bharatiya Mahila Bank Limited.............................................................. 18
Bharti AXA General Insurance Company Limited................................ 128
Bharti AXA Life Insurance Company Limited....................................... 114
Birla Sun Life Asset Management Company Limited............................. 98
Birla Sun Life Insurance Company Limited.......................................... 115
BLB Limited............................................................................................ 86
BNP Paribas........................................................................................... 18
BNP Paribas Asset Management India Private Limited......................... 98
BSE Limited............................................................................................ 50
C
Canara Bank.......................................................................................... 18
Canara HSBC Oriental Bank of Commerce Life Insurance
Company Limited................................................................................ 115
Canara Robeco Asset Management Company Limited.......................... 99
Can Fin Homes Limited.......................................................................... 50
The Catholic Syrian Bank Limited.......................................................... 19
Central Bank of India............................................................................. 19
Central Depository Services (India) Limited.......................................... 51
Cholamandalam Investment and Finance Company Limited................ 51
Cholamandalam MS General Insurance Company Limited................. 129
Cigna TTK Health Insurance Company Limited.................................... 129
Citibank N.A........................................................................................... 19
City Union Bank Limited........................................................................ 19
145
Indias Leading BFSI Companies 2017
Index
The Clearing Corporation of India Limited............................................ 51
Commonwealth Bank of Australia......................................................... 20
Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A........................ 20
Corporation Bank.................................................................................. 20
Credila Financial Services Private Limited............................................. 51
Crdit Agricole Corporate & Investment Bank...................................... 20
Credit Suisse AG.................................................................................... 21
CSL Finance Limited............................................................................... 52
CTBC Bank Company, Limited................................................................ 21
D
DBS Bank Limited.................................................................................. 21
DCB Bank Limited.................................................................................. 21
Dena Bank............................................................................................. 22
Deutsche Bank AG................................................................................. 22
Dewan Housing Finance Corporation Limited....................................... 52
Dhanlaxmi Bank Limited........................................................................ 22
DHFL Pramerica Life Insurance Company Limited............................... 115
Doha Bank............................................................................................. 22
DSP BlackRock Investment Managers Private Limited.......................... 99
E The Hongkong and Shanghai Banking Corporation Limited.................. 23
ECGC Limited....................................................................................... 129
ECL Finance Limited............................................................................... 52
Edelweiss Broking Limited..................................................................... 87
Edelweiss Finance & Investments Limited............................................. 52
Edelweiss Financial Services Limited..................................................... 53
Edelweiss Housing Finance Limited....................................................... 53
Edelweiss Retail Finance Limited........................................................... 53
Edelweiss Securities Limited.................................................................. 87
Edelweiss Tokio Life Insurance Company Limited................................ 115
Emkay Global Financial Services Limited............................................... 87
Exide Life Insurance Company Limited................................................ 116
Export-Import Bank of India.................................................................. 53
F IDBI Bank Limited.................................................................................. 24
Family Credit Limited............................................................................. 54
The Federal Bank Limited...................................................................... 23
146
FirstRand Bank Limited.......................................................................... 23
Fullerton India Credit Company Limited................................................ 54
Future Generali India Insurance Company Limited............................. 129
Future Generali India Life Insurance Company Limited....................... 116
G
General Insurance Corporation of India.............................................. 130
Geojit Financial Services Limited........................................................... 87
GIC Housing Finance Limited................................................................. 54
GRUH Finance Limited........................................................................... 54
H
HDB Financial Services Limited............................................................. 55
HDFC Asset Management Company Limited......................................... 99
HDFC Bank Limited................................................................................ 23
HDFC ERGO General Insurance Company Limited............................... 130
HDFC General Insurance Limited......................................................... 130
HDFC Investments Limited.................................................................... 55
HDFC Securities Limited........................................................................ 88
HDFC Standard Life Insurance Company Limited................................ 116
Hinduja Leyland Finance Limited........................................................... 55
Housing and Urban Development Corporation Limited........................ 55
Housing Development Finance Corporation Limited............................ 56
HSBC Asset Management (India) Private Limited.................................. 99
I
ICICI Bank Limited.................................................................................. 24
ICICI Home Finance Company Limited.................................................. 56
ICICI Lombard General Insurance Company Limited........................... 130
ICICI Prudential Asset Management Company Limited....................... 100
ICICI Prudential Life Insurance Company Limited................................ 116
ICICI Securities Limited.......................................................................... 88
ICICI Securities Primary Dealership Limited.......................................... 56
IDBI Asset Management Limited......................................................... 100
IDBI Federal Life Insurance Company Limited..................................... 117
IDFC Asset Management Company Limited........................................ 100

Index
IDFC Bank Limited................................................................................. 24
IDFC Limited.......................................................................................... 56
IDFC Securities Limited.......................................................................... 88
IFCI Factors Limited............................................................................... 57
IFCI Limited............................................................................................ 57
IFFCO-TOKIO General Insurance Company Limited............................. 131
IIFL Holdings Limited............................................................................. 57
IL&FS Financial Services Limited............................................................ 57
India Infoline Finance Limited............................................................... 58
India Infoline Housing Finance Limited................................................. 58
India Infoline Insurance Brokers Limited............................................... 58
India Infoline Limited............................................................................. 88
India Infrastructure Finance Company Limited..................................... 58
Indiabulls Commercial Credit Limited................................................... 59
Indiabulls Housing Finance Limited....................................................... 59
Indiabulls Ventures Limited................................................................... 89
IndiaFirst Life Insurance Company Limited.......................................... 117
Indian Bank............................................................................................ 24
Indian Clearing Corporation Limited..................................................... 59
Indian Overseas Bank............................................................................ 25
Indian Railway Finance Corporation Limited......................................... 59
Indian Renewable Energy Development Agency Limited...................... 60
Indostar Capital Finance Limited........................................................... 60
IndusInd Bank Limited........................................................................... 25
Industrial and Commercial Bank of China Limited................................ 25
Intec Capital Limited.............................................................................. 60
Invesco Asset Management (India) Private Limited............................ 100
J Magma Housing Finance....................................................................... 64
The Jammu and Kashmir Bank Limited.................................................. 25
JM Financial Asset Management Limited............................................ 101
JM Financial Credit Solutions Limited.................................................... 60
JM Financial Limited.............................................................................. 61
JP Morgan Chase Bank, N.A................................................................... 26
K Max Life Insurance Company Limited.................................................. 118
The Karnataka Bank Limited.................................................................. 26
Karnataka State Financial Corporation.................................................. 61
Indias Leading BFSI Companies 2017
The Karur Vysya Bank Limited............................................................... 26
KBC Bank NV.......................................................................................... 26
KEB Hana Bank...................................................................................... 27
Kotak Mahindra Asset Management Company Limited...................... 101
Kotak Mahindra Bank Limited............................................................... 27
Kotak Mahindra Investments Limited.................................................... 61
Kotak Mahindra Old Mutual Life Insurance Limited............................ 117
Kotak Mahindra Prime Limited.............................................................. 61
Kotak Securities Limited........................................................................ 89
Krung Thai Bank Public Company Limited............................................. 27
L
L&T Finance Limited.............................................................................. 62
L&T FinCorp Limited.............................................................................. 62
L&T Housing Finance Limited................................................................ 62
L&T Infra Debt Fund Limited................................................................. 62
L&T Infrastructure Finance Company Limited....................................... 63
L&T Investment Management Limited................................................ 101
The Lakshmi Vilas Bank Limited............................................................ 27
Liberty Videocon General Insurance Company Limited...................... 131
LIC Housing Finance Limited.................................................................. 63
LIC Mutual Fund Asset Management Limited..................................... 101
Life Insurance Corporation of India..................................................... 117
LKP Finance Limited............................................................................... 63
M
Magma Fincorp Limited......................................................................... 63
Magma HDI General Insurance Company Limited............................... 131
Mahindra & Mahindra Financial Services Limited............................. 65
Mahindra Rural Housing Finance Limited............................................. 66
Manappuram Finance Limited.............................................................. 66
Manipal Housing Finance Syndicate Limited......................................... 66
Mashreqbank PSC................................................................................. 28
Max Bupa Health Insurance Company Limited................................... 131
Mirae Asset Global Investments (India) Private Limited..................... 102
Mizuho Bank Limited............................................................................. 28
147
Indias Leading BFSI Companies 2017

Index
Motilal Oswal Asset Management Company Limited.......................... 102

Motilal Oswal Financial Services Limited............................................... 66

R
Raheja QBE General Insurance Company Limited............................... 132
Motilal Oswal Securities Limited........................................................... 89
RBL Bank Limited................................................................................... 29
Muthoot Capital Services Limited......................................................... 67
Reliance Capital Limited........................................................................ 72
Muthoot Finance Limited...................................................................... 67
Reliance General Insurance Company Limited.................................... 133
Muthoot Fincorp Limited...................................................................... 67
Reliance Home Finance Limited............................................................ 72

N Reliance Nippon Life Asset Management Limited............................... 102

NABARD Financial Services Limited....................................................... 67
The Nainital Bank Limited..................................................................... 28
National Australia Bank Limited............................................................ 28
National Bank for Agriculture and Rural Development......................... 68
National Commodity & Derivatives Exchange Limited.......................... 68
National Housing Bank.......................................................................... 68
National Insurance Company Limited................................................. 132
The National Securities Clearing Corporation Limited.......................... 68
Reliance Nippon Life Insurance Company Limited.............................. 118
Reliance Securities Limited.................................................................... 89
Religare Capital Markets Limited........................................................... 90
Religare Enterprises Limited.................................................................. 72
Religare Finvest Limited......................................................................... 73
Religare Health Insurance Company Limited....................................... 133
Religare Housing Development Finance Corporation Limited............... 73
The Royal Bank of Scotland N.V............................................................. 30
Royal Sundaram General Insurance Company Limited........................ 133

National Securities Depository Limited................................................. 69 Rural Electrification Corporation Limited.............................................. 73

The National Small Industries Corporation Limited............................... 69

S
National Stock Exchange of India Limited............................................. 69
S. E. Investments Limited...................................................................... 73
The New India Assurance Company Limited....................................... 132
Sahara India Life Insurance Company Limited..................................... 118
North Eastern Development Finance Corporation Limited................... 69
Sakthi Finance Limited.......................................................................... 74

O Satin Creditcare Network Limited......................................................... 74

Sberbank............................................................................................... 30
Oriental Bank of Commerce.................................................................. 29
SBI DFHI Limited.................................................................................... 74
The Oriental Insurance Company Limited........................................... 132
SBI Funds Management Private Limited.............................................. 103

P SBI General Insurance Company Limited............................................. 133

Pilani Investment and Industries Corporation Limited.......................... 70
PNB Gilts Limited................................................................................... 70
PNB Housing Finance Limited................................................................ 70
PNB MetLife India Insurance Company Limited.................................. 118
Power Finance Corporation Limited.................................................. 71
Principal Pnb Asset Management Company Private Limited.............. 102
PTC India Financial Services Limited...................................................... 72
Punjab & Sind Bank............................................................................... 29
Punjab National Bank............................................................................ 29
SBI Life Insurance Company Limited.................................................... 119
SBM Bank (Mauritius) Limited............................................................... 30
SHCIL Services Limited........................................................................... 90
Shinhan Bank......................................................................................... 30
Shriram City Union Finance Limited...................................................... 74
Shriram General Insurance Company Limited..................................... 134
Shriram Housing Finance Limited.......................................................... 75
Shriram Life Insurance Company Limited............................................ 119
Shriram Transport Finance Company Limited....................................... 75
SICOM Limited....................................................................................... 75

148
 Indias Leading BFSI Companies 2017

Index
Small Industries Development Bank of India......................................... 75

SMC Global Securities Limited............................................................... 90

U
UCO Bank.............................................................................................. 34
Societe Generale................................................................................... 31
Ujjivan Financial Services Limited......................................................... 79
The South Indian Bank Limited.............................................................. 31
Union Bank of India............................................................................... 34
SREI Infrastructure Finance Limited...................................................... 76
United Bank of India.............................................................................. 34
Standard Chartered Bank...................................................................... 31
United India Insurance Company Limited........................................... 134
Star Health and Allied Insurance Company Limited............................ 134
United Overseas Bank........................................................................... 34
Star Union Dai-ichi Life Insurance Company Limited........................... 119
Universal Sompo General Insurance Company Limited...................... 135
State Bank of Bikaner & Jaipur.............................................................. 31
UTI Asset Management Company Limited.......................................... 103
State Bank of Hyderabad....................................................................... 32

State Bank of India................................................................................ 32 V

State Bank of Mysore............................................................................ 32 Vijaya Bank............................................................................................ 35

State Bank of Patiala.............................................................................. 32 Vistaar Financial Services Private Limited............................................. 79

State Bank of Travancore....................................................................... 33

W
STCI Finance Limited.............................................................................. 76
Weizmann Forex Limited....................................................................... 80
STCI Primary Dealer Limited.................................................................. 76
Westpac Banking Corporation............................................................... 35
Stock Holding Corporation of India Limited.......................................... 76
Woori Bank............................................................................................ 35
Sumitomo Mitsui Banking Corporation................................................. 33

Sundaram Asset Management Company Limited............................... 103 Y

Sundaram BNP Paribas Home Finance Limited..................................... 77 Yes Bank Limited.................................................................................... 35

Sundaram Finance Limited.................................................................... 77

Sustainable Agro-commercial Finance Limited..................................... 77 Note: Companies marked in bold are Advertorials

Syndicate Bank...................................................................................... 33

T
Tamilnad Mercantile Bank Limited........................................................ 33

Tata AIA Life Insurance Company Limited........................................... 119

Tata AIG General Insurance Company Limited.................................... 134

Tata Asset Management Limited......................................................... 103

Tata Capital Financial Services Limited.................................................. 77

Tata Capital Housing Finance Limited.................................................... 78

Tata Cleantech Capital Limited.............................................................. 78

Tata Investment Corporation Limited.................................................... 78

Tata Motors Finance Limited................................................................. 78

Tata Motors Finance Solutions Limited................................................. 79

Tourism Finance Corporation of India Limited...................................... 79

149
Notes