India’s Best Banking & Financial Institutions and Insurance Companies

INDIA’s Best Insurance Companies
Life Insurance Companies

AEGON Life Insurance
AEGON Life Insurance Company (ARLI) in India is a joint venture between AEGON N.V. (49%) and Bennett, Coleman & Company (BCCL) (51%). AEGON, with its headquarters in Netherlands, is one of the world’s largest providers of life insurance, pension, long-term savings and investment products. With approximately 28,000 employees, the group serves over 40 million customers in over 20 markets. AEGON was formed in 1983, though the company’s history goes back to the 19th century. BCCL is part of the mammoth Times Group, is India’s largest media house and is part of this venture through Times Private Treaties arm. AEGON Life has launched multiple products, but the iTerm Plan which is one of the cheapest term insurance plan available in India, is by far their most attractive offering. It is an online product which can be purchased on the internet by anyone and is very simple to understand thus eliminating the need of agents.

Aviva Life Insurance
Aviva India Life Insurance Company is a joint venture between Dabur India and Aviva Plc of UK, which was founded in 1884. Dabur Group is one of India’s oldest and largest traditional healthcare products group and is the fourth largest FMCG company in India. Aviva Group is the UK’s largest and the sixth largest insurance group worldwide and has substantial businesses around the world. Being in the business from 1696, Aviva group has a 53 million customer base with close to 46,000 employees. The Aviva Group got its name in February 2002, which served in consolidating all its different brands under one name. Aviva Life Insurance has a fairly large distribution network with 195 branches spread across 3000 towns in India.

Bajaj Allian z Life Insurance
Bajaj Allianz Life Insurance Company is a joint venture between Allianz SE and Bajaj Finserv. It is a leading financial services provider in the world with a history of 110 years in over 70 countries. It has about 152,000 employees worldwide serving over 70 million customers internationally. Allianz insures the majority of the fortune 500 companies, besides being a large industrial insurer. It has business interests in life insurance, general insurance and consumer finance in India. It recently demerged from Bajaj Auto Limited, the largest manufacturer of two and three-wheelers in India, has a phenomenal presence across the country. It is one of the leading private life insurance players in India currently.

Bharti AXA Life Insurance
Bharti AXA Life Insurance Company is a joint venture between the Bharti Enterprises and the Paris based AXA Group and started its operations in India in 2006. Bharti Enterprises is a leading business group with interests in telecom, retail and financial services in India. Bharti Airtel, a group company, is one of India’s leading private sector providers of telecommunications services. It also has many other joint ventures within India and abroad under its wing of operations. The AXA Group is a French company which is a worldwide leader in Financial Protection with operations spread across the globe with major operations in Western Europe, North America and the Asia/ Pacific area.

Birla Sun Life Insurance
Birla Sun Life Insurance Company (BSLI) is a joint venture between the Aditya Birla Group and Sun Life Financial Inc of Canada and was established in India in 2000. Aditya Birla Group has established a strong financial presence in India through Aditya Birla Financial Services Group with expertise in a wide array of products which include wealth management, consumer finance, broking, lending and private equity. Sun Life Financial is a Canadian based financial services conglomerate with a major chunk of its business in the insurance domain, with a history of over 140 years and hence provides the much needed expertise to this joint venture in India. Birla Sun Life Insurance Company has a vast distribution network of almost 600 branches across India reaching out to more than 1500 towns.

Canara HSBC OBC Life Insurance
Canara HSBC Oriental Bank of Commerce Life Insurance Company is a joint venture between Canara Bank, Oriental Bank of Commerce and HSBC Insurance. The company started operations in India in 2008. Collectively the company has a network of 4,400 bank branches. Canara Bank is owned by the Government of India and has a century old history of banking in India. The HSBC Group, headquartered in London, is one of the world’s largest banking and financial services organizations with business in more than 81 countries across the world. The HSBC group’s presence in India also dates back to more than a century. HSBC Bank is one of the oldest and leading private sector banks in India. OBC is also a Government of India’s undertaking with a network of more than 1526 branches making it among the larger banks in India. Overall this partnership has got a trustworthy and historically established background to run the insurance business. The company in its current form operates on a pure Bancassurance model.

DHFL Pramerica Life Insurance
DHFL Pramerica Life Insurance Company Ltd.(DPLI) is a joint venture between Dewan Housing Finance Corporation Ltd. (DHFL) and Prudential International Insurance Holdings, Ltd. (PIIH), a fully owned subsidiary of Prudential Financial, Inc. (PFI), a financial services leader headquartered in the U.S. DHFL Pramerica Life Insurance Company Ltd., which was earlier known as DLF Pramerica Life Insurance Company Ltd. started operations in India on September 1, 2008. DHFL is India’s second largest private sector housing finance company. Pramerica, the trade name for Prudential Financial, Inc. (PFI), is a financial services leader incorporated with its principal place of business in the United States, and its affiliated companies in Asia, Europe and Latin America. PFI’s Insurance expertise along with DLF’s strength proves to be the strongest possible foundation for DLFPI.

Edelweiss Tokio Life Insurance
Edelweiss Tokio Life Insurance Company Limited is a joint venture between Edelweiss Financial Services, which is one of the leading financial services companies and Tokio Marine Holdings Inc, a Japanese company. It was established in 1996 and has grown rapidly in different areas ranging from Credit, Capital Market, Asset management, Housing Finance and Insurance. Life insurance provides the required financial assistance at most important levels. It is a helpful policy that allows you to get the coverage and provide great opportunities of savings and investment.

Exide Life insurance
Exide Life Insurance company Ltd. formerly known as ING Vysya Life Insurance Company Ltd is owned by Exide industries Ltd. The company was incorporated in 2000 and started its operations in 2001. Serving over 10 Lakh customers across India, Exide Life Insurance is one of the leading life insurance companies in South India. The company is now growing its franchise in other parts of the country. Exide Life insurance has the ISO 9001:2008 quality certification for all customer service processes. The company has a strong network of agency channels viz agency, alliance, bancassurance and direct channels comprising more than 35,000 advisors who are attached to over 200 company offices and customer care centers across the country. Exide Life Insurance is ranked amongst the top 10 most trusted life insurance brands in India.

Future Generali India Life Insurance
Future Generali India Life Insurance Company is a joint venture between Future Group of India and Generali Group based in Italy. Future Group is one of India’s leading business groups with interests in retail, consumer finance, insurance, real estate and the entertainment space. Pantaloon Retail is one of its flagship enterprise and the hypermarket Big Bazaar being another pioneering success story. The Generali Group is a leading player in the global insurance and financial markets. It is present in almost 68 countries across the world with a majority presence in Europe. The group’s history dates back to two centuries and is a significant player in the world’s insurance business. Of late there has been a significant shift to cover other financial services and enter the asset management services. Future Generali Life Insurance Company is well poised to service the Indian consumer.

HDFC Standard Life Insurnace
HDFC Standard Life Insurance is a joint venture between HDFC Limited and Standard Life Plc of United Kingdom. It was the first private life insurance company to set shop in India and started its operations in late 2000. HDFC Limited is a leader in India’s housing finance industry and has been in operations since 1977. The UK based Standard Life Group is an insurance and investment industry specialist with a history dating back to the last decade and an international presence. HDFC Standard Life Insurance alone has 568 branches and reaches out to customers in 700 cities in India. The company’s advertisement campaign of “Sar Utha ke Jiyo” has been a successful promotion for years.

ICICI Prudential Life Insurance
ICICI Prudential Life Insurance Company is a joint venture between ICICI bank and Prudential Plc. of the United Kingdom. The company began its operations in December 2000. ICICI Bank is one of India’s leading banks and among the largest private sector banks to operate in the country. It is currently present in 19 countries, including India. Prudential Plc, a leading internal retail financial services group with significant operations in Asia, the US and the UK, has been writing protection and savings insurance for over 160 years. ICICI Prudential Life Insurance Company has setup a large distribution network of almost 1900 branches with an army of 2,10,000 advisors selling their life insurance policies. It is also among the earliest private life insurance companies to start operations in India. Currently, it is among the largest life insurance players in the country and among the few private life insurance companies which are profitable.

IDBI Federal Life Insurance
IDBI Federal Life Insurance Company is a joint venture between IDBI Bank Limited (48%), Federal Bank (26%) and Aeges (26%). The company was earlier called IDBI Fortis Life Insurance Company. In April 2010, Fortis the foreign partner changed its name to Aeges which has resulted in the name change in this joint venture too. IDBI Bank Limited, India’s premier industrial development bank is amongst India’s foremost commercial banks. Federal Bank, one of India’s leading private sector banks, with a dominant presence in the state of Kerala, has a strong network across India. Aeges, an international insurance group composed of AG Insurance, is the overall market leader in life and non-life insurance in Belgium.

IndiaFirst Life Insurance Compan y Ltd.
IndiaFirst Life Insurance Company is a joint venture between Andhra Bank, Bank of Baroda and Legal & General. Bank of Baroda, one of the largest public sector bank in the country spreading across India, is over 100 years old and has been built on financial excellence, corporate governance and huge customer base. Andhra Bank, serving the Indian customer for over 85 years, has developed best in class deposit and lending schemes for its valued customers. Legal & General, one of UK’s leading financial institutions with a heritage of over 150 years, provides life inssurance, pensions, investments and general insurance plans to over five crores customers across countries.

Kotak Life insurance
Kotak Mahindra Old Mutual Life Insurance Limited is a joint venture between Kotak Mahindra Bank (74%) and Old Mutual Plc (26%) headquartered in London. The company started its operations in 2001. The Kotak Mahindra Group is one of India’s trusted names in financial services established in 1985 and currently caters to the entire spectrum of financial products. Kotak Mahindra Bank is one of its flagship businesses with an established presence as a private bank in the country. Old Mutual, based in London, UK has a 165 year old history and has operations in 34 different countries around the world. Its major operations are in US and the UK. Kotak Life Insurance is a fast growing life insurance company in India. It has more than 200 branches in India and along with the distribution reach of its group companies.

Life Insurance Corporation of India
Life Insurance Corporation (LIC) of India is the only public sector Life Insurance Company in India. LIC was formed in 1956 with the merger of more than 200 insurance companies and provident societies.Since then, they have been among the most trusted brands in India providing insurance solutions to even the remotest corners of the country through their huge network of agents and distributors. LIC is the largest life insurance company in India with a huge presence in both urban and rural markets. LIC has an insurance product for almost any need – from protection, savings and investments, micro-insurance plans to special plans for women and even for handicapped individuals. The insurance agents of LIC have been the backbone of the company for long and their agent network keeps getting bigger by the day.

Max Newyork Life insurance
Max Life Insurance Company is a joint venture between Max India Limited (74%) and Mitsui Sumitomo Insurance Company Limited (26%). The company started its operations in the April 2001. Mitsui Sumitomo Insurance Company bought out of the stake of New York Life Insurance Company in mid 2012. Subsequently, the company was renamed from Max New York Life Insurance Company to Max Life Insurance Company. Max India Limited, a multi-business Public Limited company has established businesses that are today recognized as being at the forefront of service excellence, in each of the industry sectors where it operates. Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, which is currently among the top 10 general insurers in the world and ranked number one in Japan. Max Life Insurance offers comprehensive life insurance and retirement solutions for longterm savings and protection both traditional and unit linked insurance plans.

PNB MetLife Insurance
PNB MetLife India Insurance Company is a joint venture between MetLife International Holdings Inc. (MIHI), Punjab National Bank Limited (PNB), Jammu & Kashmir Bank Limited (JKB), M. Pallonji and Company Private Limited and other private investors, with MIHI and PNB being the majority shareholders. PNB MetLife India Insurance Company has a wide range of insurance products to service its customers. It has more than 50,000 insurance advisors, who help customers choose the right insurance plans in more than 600 locations across India. The partner institutions also enable them to distribute their insurance products to a large number of customers.

Reliance Nippon Life Insurance
Reliance Nippon Life Insurance Company is amongst the leading private sector life insurance companies in India in terms of individual WRP (weighted received premium) and new business WRP. The company is one of the largest non-bank supported private life insurers with over 10 million policy holders, a strong distribution network of over 800 branches and over 1,00,000 advisors. Nippon Life Insurance, also called Nissay, with 25% market share is Japan’s largest private life insurer. Reliance Nippon Life Insurance Company is a part of Reliance Capital, one of India’s leading private sector financial services companies, which ranks among the top private sector financial services and non-banking companies. Reliance Capital has interests in asset management and mutual funds, stock broking, life & general insurance, proprietary investments, private equity and other activities in financial services.

Shriram Life Insurance
Shriram Life Insurance Company Limited is the joint venture between the Shriram Group (76%) and the Sanlam Group (26%). The Shriram Group, one of the largest and wellrespected financial services conglomerates in India, has their main line of activities in financial services which include chit fund, truck financing, consumer durable financing, stock broking, insurance broking and life insurance. Sanlam Life Insurance Limited, one of the largest providers of life insurance in South Africa with 3.2 million individual policies under administration, has a significant presence across South Africa, the UK and Namibia and is a major provider of life insurance, retirement annuities, saving and investment products, personal loans, home loans and trust services to individuals. The financial services group has a large network of 630 offices and 75,000 agents across India and through them they can reach out to acquire and service their insurance clients.

Sahara Life Insurance
Sahara Life Insurance Company was setup in February 2004, as a wholly owned subsidiary of the Sahara Group. It is also one of the few companies which do not have a foreign partner in the life insurance venture. The Sahara India Pariwar is a big enterprise with varied business interests – finance, real estate and entertainment to name a few. The Sahara Group is a well known name in India and is even closely associated with sporting activities, with it being the sponsors of the Indian cricket team for some time now. It has been a major player in the financial services sector for a long time. The operations of the life insurance company are currently focussed North and Central India.

SBI Life Insurance
SBI Life Insurance Company is a joint venture between the State Bank of India (SBI) (74%) and BNP Paribas Assurance (26%). The company launched its business in 2001. SBI is by far the largest and most trusted bank in India. SBI along with its associate branches has a distribution which is the largest in any banking network – more than 16,000 branches and adding more by the day. BNP Paribas, Euro Zone’s leading Bank and is one of the oldest foreign banks having a presence in India. SBI Life Insurance is now among the top life insurance providers in India. It is the largest private life insurer and was the 1st private life insurance company to become profitable.

Star Union Dai-ichi Life Insurance
Star Union Dai-ichi Life Insurance Company is a joint venture between Bank of India (51%), Union Bank of India (23%) and Dai-ichi Mutual Life Insurance Company (26%). Bank of India and Union Bank having a strong nationwide network across India, provides distribution outlets with a wide reach to more than 48 million strong banking customer base for cross selling of insurance products and has a strong brand equity along with a high level of trust among their customers and people at large. Dai-ichi Life, a leading player in the Life Insurance Segment in Japan, is one of the top ten Life Insurers in the world and the second largest Life Insurance Company in Japan and has more than a century of experience in Life Insurance business.

Tata AIA Life Insurance
Tata AIA Life Insurance Company is a joint venture between the Tata Group (74%) and American International Group (AIA) (26%). The company started its life insurance business in India in April, 2001. Tata Group is one of India’s most respected business names with more than a century old history in India. AIA Group Limited and its subsidiaries (collectively “AIA” or “the Group”) comprise the largest independent publicly listed pan-Asian life insurance group in the world. AIA is a market leader in the Asia Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. Tata has entered into both the life insurance and non-life insurance business in India as separate businesses. The company has an excellent array of protection, savings.

General Insurance Companies

Agriculture Insurance Company of India
Agriculture Insurance Company of India is an entity completely owned by the Public Sector General Insurance Companies in India. General Insurance Corporation and NABARD are the 2 biggest shareholders with 35% and 30% shares respectively. Rest is held by National Insurance, Oriental Insurance, United India and New India Assurance. Agriculture is the back-bone of Indian economy and insurance products for the farmers and can go a long way in scientifically avoiding certain risks associated with farming. Agriculture Insurance Company strives to do just that with 17 regional offices across India. The company provides insurance for rubber, coconut, potato, grapes and many more agricultural products.

Apolo Munich Insurance
The name Apollo Hospitals is synonymous with superior medical practices and an enduring brand recognition factor in India. On 8th August 2007, this giant shook hands with Munich Health, a popular insurance brand that is recognized worldwide, and the outcome as expected, is an impressive pioneer in its speciality. Today, Apollo Munich Health Insurance is one of the most trusted and preferred health insurance brands in India. Leading health insurance company Apollo Munich has won the award for being the best insurance company of 2016, at the ABP News Healthcare Awards 2016. The award was arecognition of the insurer’s efforts in providing uncomplicated solutions in health insurance and in the creation of new benchmarks in the industry.

Bajaj Allianz General Insurance
Bajaj Allianz General Insurance is a joint venture between the Bajaj Finserv of India and the Allianz SE of Munich, Germany. In this venture, the Bajaj Finserv holds 74% stake and the remaining 26% is held by Allianz SE. Bajaj Allianz General Insurance has been chosen as the Best General Insurance Company in India as well as Asia by organizations such as Asia Insurance industry Awards, Money Today FPCIL Awards, Vijayvavani BFSI Excellence Awards 2015, etc. The company was adjudged as the Aon Best Employer 2016 for its healthy work environment and employee friendly policies. Bajaj Allianz General Insurance was ranked 2nd in terms of having a loyal health insurance customer base in the country, by a survey done by IMRB.

Bharti AXA General Insurance
Bharti AXA General Insurance is a joint venture between the Bharti Group of India and the Axa Group which is an insurance and wealth management expert world over. In this venture, the Bharti group holds 74% stake with the balance 26% being held by Axa. Both these groups have a similar tie up for the life insurance business also called Bharti Axa Life Insurance Company. The organization commenced national operations in August 2008 and currently has 87 branch offices across the country. It is the first organization in the general insurance industry to receive dual certifications of ISO 9001:2008 and ISO 27001:2005 within the first year of operations in 2009 and subsequently the certification has been renewed in 2012 for further 3 years.

Cholamandalam MS General Insurance
Cholamandalam MS General Insurance Company is a joint venture between the Murugappa Group of India and the Mitsui Sumitomo Insurance Company of Japan. The Murugappa Group is one of India’s largest industrial houses, headquartered in Chennai. The group has 29 companies operating out of 13 states in India. The group has a well diversified business portfolio which includes engineering, finance, fertilisers and bioproducts to name a few. The well known cycles brands like BSA and Hercules belong to the Murugappa Group. Mitsui Sumitomo Insurance Company is a general insurance expert. It is the third largest property insurance company in Japan. Cholamandalam Insurance, as it is better known, is a fast growing general insurance company currently having 100+ branches across the country and is well positioned for further growth in the years to come.

Cigna TTK Health Insurance Company
Cigna TTK Health Insurance Company Limited is a joint venture between the U.S. based global health services leader, Cigna Corporation and Indian conglomerate, TTK Group. The company received the regulatory license from IRDA in November 2013. Cigna TTK Health Insurance Company is a standalone health insurance company which is headquartered in Mumbai. The Company will strongly leverage Cigna’s global health service expertise along with the trust, credibility and experience of the TTK group, to offer products and services exclusively designed for Indian market. To support this, the company has extensively invested in state-of-the-art technology, to give customers and distributors a completely hassle-free and personalized service experience.

ECGC (Export Credit Guarante Corporation of India)
Export Credit Guarantee Corporation of India (ECGC) is a government of India enterprise administered by the Ministry of Commerce and Industry. ECGC was setup to enable smoother functioning of the exporter in India by eliminating risks associated with payments generating from other countries. The insurance cover provided by ECGC also helps the exporters in getting better access to credit facilities from financial institutions. ECGC is the fifth largest credit insurance company which deals with exports of any country. ECGC provides protection against non-payment by the importers. Because of this insurance cover, financial institutions are better placed to lend and provide larger credit to the exporters. The company also provides credit ratings and shares information on different countries and the risks associated with doing business in those countries.

Future Generali India Insurance Company Ltd
Future Generali General Insurance Company is a joint venture between the Future Group of India and the Italy based Generali Group. The partnership between these two groups continues in the life insurance business also. Future Generali has access to a large number of customers due to the retail network they have. The consumer finance business too has more than 150 branches and helps the company spread its reach. The company was first to launch what it calls Mallassurance – selling insurance policies to customers to who visit their malls. It provides a comprehensive solution to customers and enterprises through retail, commercial, personal and rural product offerings. The company reaches out to customers through more than 6,100 advisors and FG Direct channels across the country and insures over 2200 corporate clients.

HDFC ERGO General Insurance
HDFC ERGO General Insurance Company is a joint venture between HDFC Limited of India and the Munich based ERGO International AG. HDFC Limited holds 74% equity in this joint venture while the remaining 26% is held by Ergo International AG. HDFC ERGO has a large network in India across 70 cities and multiple branches in some cities. The company has a large basket of products to meet the different insurance requirements of individuals and companies. HDFC ERGO General Insurance Co. has been assigned ‘iAAA’ rating by ICRA indicating its highest claim paying ability. The company was awarded as the Best Insurance company in Private sector –General by the World HRD Congress at ABP News banking financial services and awards in 2014.

ICICI Lombard General Insurance Company Ltd
ICICI Lombard General Insurance Company is a joint venture between ICICI Bank and a Canadian company called Fairfax Financial Holdings Limited. ICICI Bank holds 74% equity in this joint venture while the remainder 26% is held by Fairfax Financial Holdings Limited. ICICI Lombard is the largest private sector company in general insurance space. It is also considered to be the most aggressive and has stayed ahead of its competitors by launching innovative products and using the latest technologies to reach out to its insurance customers. Almost all its retail insurance policies like car insurance, health insurance and travel insurance can be conveniently purchased online. ICICI Lombard has more than 350 branches across the country.

IFCO Tokio General Insurance Company Ltd
IFFCO Tokio General Insurance Company is a joint venture between IFFCO and the Japanese company Tokio Marine Asia Pte and Nichido Fire Group. IFFCO Tokio was setup in 2000 in the first wave of private insurers getting licenses to operate in India. The company has specific products to cater to a large spectrum of customers – from farmers to large commercial vehicles. The company is headquartered in Gurgaon. IFFCO Tokio is also the only insurance company in the country to have a 100%-owned distribution channel to service its retail customers called IFFCOTOKIO Insurance Services Ltd (ITIS). It finds special mention in the ‘Capgemini World Insurance Report- 2009’ as an innovative distribution channel. Today, ITIS has a highly motivated workforce of over 1500 employees in over 350 towns.

Liberty Videocon General Insurance
Liberty Videocon General Insurance Company Limited is a joint venture between the Videocon Industries Limited and Liberty Citystate holdings PTE Ltd, a leading global property and casualty group. Liberty Videocon General Insurance is headquartered in Mumbai. Backed with Liberty Mutuals’ 100 years of expertise and knowledge, Liberty Videocon General Insurance Company works towards building a customer centric business to address varied needs of both individual and corporate clients. The company has a vast portfolio, which includes both personal and corporate insurance.

Magma HDI General Insurance
Magma HDI General Insurance Company Ltd. is a joint venture between Kolkata based financial services firm Magma Fincorp and German insurer HDI-Gerling Industrie Versicherung. The current holding pattern stands within mandatory laws with Magma Fincorp holing 74% stake while 26% stake is held by the German company. Magma HDI General Insurance Company is the only company in India that has achieved the unique feat of becoming profitable within seven quarters of its existence. It has benefitted greatly from the group’s synergy and utilized branch network of its parent company. Its portfolio provides risk coverage to individuals and corporations, and range from motor insurance to burglary insurance, and fire insurance to engineering insurance. The company has the mission to understand insurance needs of the consumers and to serve them with affordable products. It strives to achieve values such as transparency, integrity, impartiality and trust of people.

Max Bupa General Insurance
Max Bupa Health Insurance Company Ltd. (Max Bupa) is a joint venture between Max India Limited and the UK based healthcare services expert, Bupa. While Bupa has six decades of experience in the healthcare industry and a 29 million customer-base in over 190 countries; the Max India Group brings expertise in both health and insurance related services including hospitals, clinical research and life insurance. The perfect blend of global expertise and local knowledge in both healthcare and insurance makes Max Bupa, the perfect choice when it comes to your family’s health and wellness. Max Bupa was declared as General Insurer of the year at the ABP News Banking, Financial Services and insurance (BFSI) awards 2014.

National Insurance Company Limited
National Insurance Company (NIC) is a Government of India enterprise and is one of the key general insurance players in the market. The company has a long history dating back almost a century. NIC is India’s oldest general insurance Company. It was incorporated in Kolkata on December 5, 1906 to fulfil the nationalist aspiration for Swaraj. With a work force of 14,902 skilled personnel and 1998 offices all over India including operations in Nepal, National Insurance stands tall today as India’s second largest non life insurer as measured by its gross direct written premiums (GDWP).

New India Assurance
The New India Assurance Company is a Government of India undertaking. The history of the company dates back to 1919, when it was founded by the Tatas. Merger of insurance companies and later their nationalisation resulted in it being a Government of India entity. New India Assurance is present in more than 28 countries and has a large distribution network of 1000+ branches even in India. The company not only caters to all retail insurance requirements but also specialises in niche areas like satellite and aviation insurance. The company has close to 20,000 employees.

Oriental Insurance Company
Oriental Insurance Company is a general insurance company completely owned by the Government of India. The company was a unit of LIC of India for 20 odd years from 1956 to 1973, but post restructuring of the insurance businesses in India, the Government of India has been the sole owner. Oriental Insurance can be summarised by their tag line “Prithvi, Agni, Jal, Akash, Sab ki Suraksha Hamare pass”. The company has insurance solutions for every need of Indians and has a large network of offices and employees – more than 900 offices and 15,000 employees across India. Oriental Insurance also specialises insuring large units and plants which require highly skilled and experienced professionals as the risk runs into large sums of money.

Religare Health Insurance
Religare Health Insurance Company is a joint venture of Religare Enterprises Limited, Union Bank of India and Corporation Bank. Religare Enterprises Limited is a financial service major in India with businesses spanning life insurance (AEGON Religare), broking, investment banking and a host of other financial services offerings. Religare is promoted by the founders of Fortis Healthcare, which owns or manages 54 healthcare facilities in India, Dubai & Mauritius; SRL Diagnostics, India’s largest diagnostics company with 306 networking laboratories, 6900 collection points, is present in Dubai, Sri Lanka & Nepal and the Fortis Healthworld chain of pharmacy and wellness stores.

Raheja QBE General Insurance Company
Raheja QBE General Insurance Company is a joint venture between the Prism Cement Limited of Rajan Raheja Group and QBE Holdings of Australia. Prism Cement Limited holds a 74% stake in the company while QBE Holdings has the remainder 26% stake in the general insurance venture. Raheja QBE General Insurance Company has adopted a unique business model in India in which the primary focus of the company would be on the actuarial side. The distribution part would be handled through brokers who can sell specialised liability covers. This model eliminates the usual high cost of distribution and the typical challenges which all insurers face in India. QBE is an insurance major based out of Australia and has a presence in more than 45 countries with expertise in handling financial services clients over a long period of time.

Reliance General Insurance
Reliance General Insurance Company is part of Reliance Capital of the Anil Dhirubhai Ambani Group (ADAG). The company has presence in 22 states with over 200 branch offices across 170+ cities in India. The company is an aggressive player in the sector and has priced its products aggressively. Its product range effectively caters to both individual and corporate insurance needs. Reliance general Insurance has been appreciated for its quality management system by international quality standards auditing organisation Det Norkse Veritas (DNV). It is India’s first insurance company to be given ISO 9001:2008 certification for offering end-to-end services of general insurance products on an all India basis.

Royal Sundaram General Insurance Co Ltd
Royal Sundaram General Insurance Co. Limited (formerly known as Royal Sundaram Alliance Insurance Company Limited), a subsidiary of Sundaram Finance, is the first private sector general insurance company in India to be licensed in October 2000 by the Insurance Regulatory and Development Authority of India. Royal Sundaram has been providing innovative general insurance solutions to individuals, families and businesses directly as well as through its intermediaries and affinity partners. The company offers motor, health, personal accident, home and travel insurance to individual customers and offers specialised insurance products. Royal Sundaram has over 5.20 million customers, 1700 employees and its products are distributed in over 115 cities across India, through agents, distribution partners, affinity partners and brokers.

SBI General Insurance Company Ltd
SBI General Insurance Company started its operation in 2010. The general insurance venture from State Bank of India has the Insurance Australia Group (IAG) as a partner in the business. SBI has a 74% stake in the company while the remainder is held by IAG. SBI General’s distribution family includes over 14,178 IRDA certified SBI & its Associate Bank employees and over 6323 agents. The current policy offering of SBI General covers motor, health, personal accident, travel & home insurance for individuals and fire, marine, package, construction & engineering, liability, group health, group personal accident and miscellaneous insurance for businesses.

Shriram General Insurance Company Ltd
Foreseeing the general insurance business as a sunrise industry, Shriram Group entered into this business with the company named as Shriram General Insurance. Till September 2012, it was a 74:26 joint venture between Shriram Capital Ltd. and Sanlam Limited (South Africa). Since September 2012, the stake of Sanlam Limited (South Africa) has been transferred to Shriram Capital Ltd. The overall team of SGI includes young and vibrant senior e x e c u t i v e s of insurance domain to handle underwriting and claim matters. The business philosophy of Shriram General Insurance is to serve the largest number of common people. SGI has been awarded “Excellence In Growth Award” for two consecutive year (2011 & 2012).

Star Health and Allied Insurance
Star Health & Allied Insurance Company is a specialist health insurance company. The company started its operations in the year 2006. The promoters of the company are Oman Insurance Company, Syed Mohammed Salahuddin and Essa Abdullah AL Ghurair. The Indian promoters own 74.24% of the company while foreign promoters hold the remaining 25.76%. Star Health and Allied Insurance Co Ltd commenced its operations in 2006 with the business interests in health insurance, overseas mediclaim policy and personal accident. At Star Health Insurance, the company offers a wide range of health insurance products at affordable prices to make health insurance every human being’s right.

Tata AIG General Insurance
Tata AIG General Insurance Company is one of the leading general insurance companies in the private sector. It is a joint venture between the Tata Group and American International Group (AIG) of US. The Tatas own 74% of the company while the remainder is held by AIG. Both the groups are well established brand names in the international space, Tatas being a reputed household name in India. Together the partners constitute a formidable force in the insurance space in India. Tata AIG General Insurance Company started its operations in India on January 22, 2001. The company offers a range of general insurance covers that are structured under commercial and consumer lines. Headquartered in Mumbai, the company employs over 2,100 people across 160+ locations in the country.

Universal Sompo General Insurance
Universal Sompo General Insurance Company is a unique joint venture. Allahabad Bank, Karnataka Bank, Indian Overseas Bank, Dabur Investments form the Indian participation which the foreign partner is Sompo Japan Insurance. It is unique because of the count of partners and the presence of an Indian FMCG major (Dabur) participating in the insurance venture through its investment arm. The large number of partners in the joint venture does give the company an added advantage as it leads to a larger distribution and access to readymade customer profiles. The company can leverage its existing relationship to grow and deliver superior customer experience.

 Major Financial Institutions of India

Bharatiya Reserve Bank Note Mudran Private Limited
Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) was established by Reserve Bank of India (RBI) as its wholly owned subsidiary on February 1995 with a view to augmenting the production of bank notes in India to enable the RBI to bridge the gap between the supply and demand for bank notes in the country. The BRBNMPL has been registered as a Private Limited Company under the Companies Act 1956 with its registered and corporate office in Bengaluru. The company manages 2 presses one at Mysore in Karnataka and the other at Salboni in West Bengal. The present capacity for both the presses is 16 billion note pieces per year on a 2-shift basis.

Board of Industrial & Financial Reconstruction
The Government of India, in order to tackle the problem of industrial sickness, had set up a Board for Industrial and Financial Reconstruction (BIFR), under the purview of Sick Industrial Companies (Special Provisions) Act,1985 (SICA). It had been established as a quasi-judicial body in the Department of Economic Affairs, Ministry of Finance, for revival and rehabilitation of potentially sick undertakings and for closure/liquidation of non-viable and sick industrial companies. The Industrial Finance Division of the ministry dealt with the appointment of the Chairman and the Members of BIFR and Appellate Authority for Industrial and Financial Reconstruction (AAIFR) as well as with all the other matters relating to industrial sickness.

The Export-Import Bank (Exim bank) was set up on January 1, 1982 to take over the operations of international finance wing of the IDBI and to provide financial assistance to exporters and importers and to function as a head financial institution for coordinating the working of other institutions engaged in financing of exports and imports of goods and services. The Exim Bank is managed by a Board consisting of a Managing Director who is the Chairman and 17 Directors representing different areas. They are Secretary to the Department of Industrial Board, Commerce Secretary, Finance Secretary, Secretary to Banking, Secretary IDBI, Secretary ECGC Secretary RBI, 3 directors representing other scheduled commercial banks, 4 Directors chosen from export community and 3 others representing ministries and departments.

General Insurnace Corporation
The entire general insurance business in India was nationalised by General Insurance Business (Nationalisation) Act, 1972 (GIBNA). The Government of India (GOI), through Nationalisation took over the shares of 55 Indian insurance companies and the undertakings of 52 insurers carrying on general insurance business. General Insurance Corporation of India (GIC) was formed in pursuance of Section 9(1) of GIBNA. It was incorporated in November 1972 under the Companies Act, 1956 as a private company limited by shares. GIC was formed for the purpose of superintending, controlling and carrying on the business of general insurance. As soon as GIC was formed, GOI transferred all the shares it held of the general insurance companies to GIC. After a process of mergers among Indian insurance companies, four companies were left as fully owned subsidiary companies of GIC: National Insurance Company Limited, The New India Assurance Company Limited, The Oriental Insurance Company Limited and United India Insurance Company Limited.

Industrial Finance Corporation of India
The Industrial Finance Corporation of India Limited was incorporated on July 1, 1948 by the Government of India as a tool to overcome the scarcity of long-term finance plans in the industrial sector. IFCI is the first Development Financial Institution in India. During the period of independence in 1947, the capital market scenario was horrifying. In spite of the major requirement of capital market in India, there were no providers for it. IFCI was established with an intention to provide long–term finance needs of the industrial sector. It got listed in 1993, changing its status from statutory corporation to a company. Until the establishment of ICICI in 1956 and IDBI in 1964, IFCI remained solely responsible for implementation of the government’s industrial policy initiatives. It made a significant contribution to the modernization of Indian industry, export promotion, import substitution, pollution control, energy conservation and generation through commercially viable and market– friendly initiatives.

Infrastructure Development Finance Company (IIFCL)
IIFCL is a whollyowned Government of India company set up in 2006 to provide long term finance to viable infrastructure projects through the scheme for financing viable infrastructure projects through a Special Purpose Vehicle called India Infrastructure Finance Company Ltd (IIFCL), broadly referred to as SIFTI. The sectors eligible for financial assistance from IIFCL are as per the harmonized list of Infrastructure Sub-Sectors as approved by the Government and RBI and as amended from time to time. These broadly include transportation, energy, water, sanitation, communication, social and commercial infrastructure. IIFCL has been registered as a NBFC-ND-IFC with RBI since September 2013.

The Government of India set up the Industrial Reconstruction Corporation of India (IRCI) in April 1971, under the Indian Companies Act mainly to look after special problems of sick units’ and provide assistance for their speedy reconstruction and rehabilitation, if necessary, by undertaking the management of the units and developing infrastructure facilities like those of transport, marketing etc. In 1984, the Government of India passed an Act converting the Industrial Reconstruction Corporation of India (IRCI) into the Industrial Reconstruction Bank of India (IRBI). IRBI was established in March 1985 to take over IRCI. IRBI provides term loans and working capital finance to medium, large, sick, small and tiny sector units. It also provides ancillary services, such as consultancy, preparation of schemes of amalgamation, merger, sale, reconstruction, equipment leasing, merchant banking etc. IRBI has full power to take any step to remove industrial sickness.

Life Insurance Corporation of India (LIC) is the biggest provider of insurance and investment services in India. It is a publicly held organization held totally by the Union Government of India and also provides almost 24.6 percent of the government’s expenses. Its assets have been valued at INR 13.25 trillion. It was established during 1956 when 243 provident societies and insurers merged together. Life Insurance Corporation (LIC) of India is the only public sector Life Insurance Company in India. LIC was formed in 1956 with the merger of more than 200 insurance companies and provident societies. Since then they have been among the most trusted brands in India providing insurance solutions to even the remotest corners of India through their huge network of agents and distributors.

National Payments Corporation of India
National Payments Corporation of India (NPCI) is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA). The RBI, after setting up the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS) in 2005, released a vision document incorporating a proposal to set up an umbrella institution for all the RETAIL PAYMENT SYSTEMS in the country. The core objective was to consolidate and integrate the multiple systems with varying service levels into nationwide uniform and standard business process for all retail payment systems. The other objective was to facilitate an affordable payment mechanism to benefit the common man across the country and help financial inclusion.

Rural Infrastructure and Development Fund (RIDF)
The RIDF was set up by the Government in 1995-96 for financing ongoing rural Infrastructure projects. The Fund is maintained by the National Bank for Agriculture and Rural Development (NABARD). Domestic commercial banks contribute to the Fund to the extent of their shortfall in stipulated priority sector lending to agriculture. The main objective of the Fund is to provide loans to State Governments and State-owned corporations to enable them to complete ongoing rural infrastructure projects. The shortfall in disbursements of RIDF funds as compared to sanctions continues to remain a matter of concern in the implementation of RIDF. The Government has taken a number of steps to address this problem.

The SEBI was established in 1988 but was only given regulatory powers on April 12, 1992, through the Securities and Exchange Board of India Act, 1992. It plays a key role in ensuring the stability of the financial markets in India, by attracting foreign investors and protecting Indian investors. SEBI was built by the government of India. The Securities and Exchange Board of India (SEBI) is the designated regulatory body for the finance and investment markets in India. The board plays a vital role in maintaining stable and efficient financial and investment markets by creating and enforcing effective regulation in India’s financial marketplace. SEBI’s management is composed of its own members. Its management team consists of a chairman nominated by the Union Government of India, two members who are officers from the Union Finance Ministry, one member from the Reserve Bank of India and five other members who are also nominated by the Union Government of India.

Top Non Banking Financial Institutions

Bajaj Holdings
Bajaj Holdings & Investment Limited [(BHIL) – erstwhile Bajaj Auto Limited ] was demerged as per order dated 18 December 2007 of the Hon’ble Bombay High Court, whereby its manufacturing undertaking has been transferred to the new Bajaj Auto Limited (BAL) and its strategic business undertaking consisting of wind farm business and financial services business has been vested with Bajaj Finserv Limited (BFS). Bajaj Finserv founded in 2007, is a part of Bajaj Holdings & Investments Limited and is one of the leading financial companies of India. Bajaj Finserv Limited offers its services in the business of lending, wealth advisory and insurance. personal loan, doctor loan, gold loan, home loan and business loan. It has about 20,000 employees and is established in more than 1400 locations in the country.

Centrum Finance
Incorporated in 1977, Centrum Capital is one of the leading financial companies in the country that offers innovative, customized and integrated financial solutions. A part of the Centrum Group of Companies, Centrum Capital works as an investment banker. The company is engaged in investment banking. It offers a gamut of financial services and solutions to clients consisting of domestic institutions, public and private banks, corporates, public sector units, government undertakings and retail investors. Centrum is a SEBI registered Category I Merchant Banker, listed on the Bombay Stock Exchange, (BSE). It also offers secondary market solutions to over 1500 provident funds, corporates, trusts etc.

Can Fin Homes
Can Fin Homes (CFHL), established in 1987, is promoted by Canara Bank in association with reputed financial institutions including HDFC and UTI. The vision of Canara Bank on the relevance of having an exclusive outfit for providing housing finance at a time when institutional finance was not flowing to the housing sector to the required extent and banks had constraints in locking up funds in long term housing finance saw the birth of CFHL. It is the first bank and the biggest bank sponsored housing finance company (HFC) in the country and one among the top players in the country’s housing finance sector. Now the National Housing Bank (NHB) is also an important equity holder in CFHL. CFHL was set up with the mission of promoting home ownership and increasing housing stock all over the country.

Capital Trust
Capital Trust was incorporated in the year 1985 with an initial paid–up capital of Rs10 million. The first public issue of the company was floated in December 1985. The company also came out with a rights issue in the year 1996. The company has been one of the pioneers in offering consultancy services to foreign banks, not having their own branches or representative office. Since its inception the company has represented many foreign banks. The company presently represents Banco Popular Espanol, which is the third largest banking group in Spain. The company has primarily been in the business of hire purchase/leasing of plant and machinery, two wheelers and other assets. In September 2016, Capital Trust acquired a NBFC-MFI which is now operating as a 100% owned subsidiary of the company.

Cholamandalam Investment and Finance
Cholamandalam Investment and Finance Company Limited, incorporated in 1978 as the financial services arm of the Murugappa Group. Chola commenced business as an equipment financing company and has today emerged as a comprehensive financial services provider offering vehicle finance, home loans, home equity loans, SME loans, investment advisory services, stock broking and a variety of other financial services to customers. Chola operates from over 700 branches across India with assets under management above INR 30,000 Crores. The subsidiaries of Chola are Cholamandalam Securities Limited (CSEC), Cholamandalam Distribution Services Limited (CDSL) and White Data Systems India Private Limited (WDSI). The company offers a complete range of financial services. It is one of India’s largest domestically owned NBFCs.

Edelweiss Capital
Edelweiss Capital was incorporated on November 21, 1995 as a public limited company. The company received its certificate for commencement of business on January 16, 1996. The company today is a diversified financial services company in India, providing investment banking, institutional equities, private client broking, asset management and investment advisory services, wealth management, insurance broking and wholesale financing services to corporate, institutional and high net worth individual clients. The company is headquartered in Nariman Point, Mumbai.

Indiabulls Housing Finance
India Bulls was founded in 2000 and Indiabulls Housing Finance Ltd. (IBHFL) is the 2nd largest private housing finance company in India, regulated by the National Housing Bank (NHB). It is one of the top companies which provide financial assistance relating to housing matters. Its headquarters is located in Gurgaon and its corporate office in Mumbai. This company is also listed in the Luxembourg stock exchange. IBHFL is ‘AAA’ rated company.

Indus Finance Corporation
Indus Finance Corporation Ltd. is engaged in providing financial services. The company offers corporate and project advisory, corporate finance, carbon financing and term lending services, and makes private equity investments. Indus Finance Corporation Ltd. is based in Chennai, India . The company was incorporated in 1992 formerly known as Subuthi Finance Ltd. NBFC’s like Indus Finance Ltd (IFL-Formerly known as Indus Finance Corporation Limited) meets this requirement through a robust and dynamic credit delivery. IFL is a RBI registered NBFC in the business of Commercial Lending for value creation. Its shares are listed on the BSE. Indus Finance Corporation Limited was founded in 1992 and is based in Mumbai, India.

Although HDFC is into core banking however it also gives Non Banking Financial Services like providing small loans and other things like micro finance. HDFC keeps NBF services separate from its core services. HasmukhBhai Parekh founded HDFC in the year 1977. This company is one of the best in providing loans and financial aid for housing in the country. It has over 300 outlets and caters to more than 2,400 towns and cities. It has provided Rs 2.5 Trillion in loans and financed over 50 Lakh cumulative units. Home Loans, Plot Loans, Home Improvement Loans and Loan against property are some of the products of the company. Its headquarters is located in Mumbai and the total asset of the company is 3.44 billion dollars. It is one of the most popular NBFC in the country.

India Infoline
The India Infoline (IIFL) group, comprising the holding company, India Infoline and its subsidiaries, is one of the leading players in the Indian financial services space. IIFL offers advice and execution platform for the entire range of financial services covering products ranging from Equities and derivatives, Commodities, Wealth management, Asset management, Insurance, Fixed deposits, Loans, Investment Banking, Gold bonds and other small savings instruments. IIFL recently received an in–principle approval for Securities Trading and Clearing memberships from Singapore Exchange (SGX) paving the way for IIFL to become the first Indian brokerage to get a membership of the SGX. The company has been awarded the Best Broker, India by FinanceAsia. India Infoline was also adjudged as the fastest growing equity broking house – large firms by Dun & Bradstreet.

Infrastructure Development Finance Company
IDFC is a non banking finance company in India that gives loan for infrastructure related projects in all over India. IDFC was incorporated on January 30, 1997 in Chennai. The company is India’s leading integrated infrastructure finance player providing end to end infrastructure financing and project implementation services. It provides financial assistance to various segments such as power, roads, ports, telecommunications, Information Technology, Urban Infrastructure, Health care, education Infrastructure, food and agri business infrastructure, health care and tourism.

JM Financial
JM Financial incorporated on January 30, 1986, is a financial services company. The company was incorporated under the name JM Share & Stock Brokers (JMSSB). It offers services to corporations, financial institutions, high net–worth individuals and retail investors. The company offers its services in areas of investment banking, institutional equity sales, trading, research and broking, private and corporate wealth management, equity broking, portfolio management, asset management, commodity broking, NBFC (Non Banking Finance Company) activities, private equity and asset reconstruction. The name of the company was changed to present one on October 29, 2004.

KGN Industries
KGN Industries, incorporated on October 14, 1994, has business activities in finance, investments and trading. Earlier known as Royal Finance, it got its present name on September 13, 2007. The company’s finance and investment business includes leasing, hire purchase, bill discounting and intercorporate deposits. It has diversified into trading in agro commodities. Restructuring since 2005–2006, early focus has been on recovery of dormant financial assets such as sundry debtors, loans and advances. KGN Industries limited is listed on Bombay Stock Exchange. KGN Industries have also forayed into the sectors like Real estate, Oil and Gas, Power and cement Industry. KGN Industries with its state of the art infrastructure is strategising to be diversified and flexible to face the challenges in this competitive market.

Kwality Credit & Leasing 
Kwality Credit & Leasing was incorporated on September 25, 1992 as a Private Limited Company in the name of Kwality Credit & Leasing Private and converted into a Public Limited Company and obtained a fresh certificate of incorporation dated March 24, 1995. It was promoted by Prahlad Kumar Jhunjhunwala and others. The company’s shares are listed in the Bombay Stock Exchange Limited, the Calcutta Stock Exchange Association Limited and the Jaipur Stock Exchange. The company is a Non–Banking Financial Institution not accepting Public Deposit and is registered with the Reserve Bank of India.

L & T Finance Holdings
Founded in 1938 by Danish engineers, L & T Finance Limited offers financial services for various sectors like agriculture, industry, trade, etc. Its headquarters is located n Mumbai and has been awarded as the company of the year in the 2010 Economic Times awards. Some of their services include help related to Personal Vehicle Loans, Commercial Vehicle Loans, Rural Loans and Corporate Loans are some of the products of the company. L & T Finance has catered to 10 lakh people.

LIC Housing Finance
Life Housing Finance Limited or LIC HFL was founded 1989 and its headquarters is located in Mumbai’s facilities include loans for construction, repair and renovation of houses and flats. Since the company’s existence it has provided over Rs 1.39 Lakh Crore in home loans. The Company possesses one of the industry’s most extensive marketing network in India: Registered and Corporate Office at Mumbai, 7 Regional Offices, 21 Back Offices and 240 marketing units across India. In addition the company has appointed over 11452 Intermediaries to extend its marketing reach. 21 Back Offices spread across the country conduct the credit appraisal and administrative functions. The Company is registered with National Housing Bank and listed on the National Stock Exchange (NSE) & Bombay Stock Exchange Limited (BSE) and its shares are traded only in Demat format.

M&M Financials (MMFSL) 
Mahindra and Mahindra Financial Services Limited (MMFSL) is one of the country’s top rural NBFC. It was established in 1991 and has over 1000 branches in the country. Their services include vehicle loans, home loans, gold loans, corporate loans, working capital loans, etc. Mahindra Insurance Brokers Limited and Mahindra Rural Housing Finance Limited are its two subsidiaries these subsidiaries offer insurance services and housing financial services of premier quality. It has more than 3 million customers.

Magma Fincorp
Magma Fincorp Limited (formerly Magma Leasing Limited) was incorporated in 1988 and commenced its operations in 1989. It is headquartered in Kolkata (India), and registered with the Reserve Bank of India and is represented by a qualified team of over 4500 Magmaites. In response to the rapidly evolving demand of an India on the move, they offer individual and corporate customers a range of financial products and services in: commercial vehicle finance, construction equipment finance, passenger car finance. Today, it offers its services in 22 states through 290 offices.

Manappuram Finance
Manappuram General Finance & Leasing Limited (MAGFIL), a non banking finance company promoted by the Manappuram Group was established in 1992, it has its headquarters at Valapad, Thrissur District, Kerala. The company went public in August 1995 and has grown substantially since then. The shares of MAGFIL are listed on the Bombay, Chennai and Cochin Stock Exchanges and the company has paid dividends to shareholders every year since the first full year of its operations. MAGFIL, the flag–ship company of Manappuram Group, was established in the wake of economic reforms launched by the Government of India mainly to take advantage of the importance assigned to Leasing as a vehicle to promote decentralized pattern of Economic Growth through small and medium enterprises. In a short span of time, MAGFIL had several Firsts.

Reliance Capital
Reliance Capital is among top 3 private financial services and banking companies in terms of net worth. Reliance Capital comes under the Anil Ambani Group. Established in the year 1986 by Dhirubhai Ambani, Reliance is one of the top companies that provide financial services in the country. It is under the management of the Anil Ambani Group. The major services provided are Asset Management, Commercial Finance, Broking and Distribution and Insurance are some of the domains in which the company operates. It operates in Mutual Fund, Life Insurance, Mortgage, Business Loan and Asset Construction as well. It has over 11,000 employees across all major Indian cities. The headquarters is located in Mumbai. The total asset of the company is about 1.1 billion dollars.

Muthoot Finance
The company is the largest gold financing company in India in terms of loan portfolio. It provides personal and business loans secured by gold jewellery, or Gold Loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short–term liquidity requirements. The company’s customers are typically small businessmen, vendors, traders, farmers and salaried individuals, who for reasons of convenience, accessibility or necessity, avail of its credit facilities by pledging their gold jewellery with it rather than by taking loans from banks and other financial institutions. It provides retail loan products, primarily comprising Gold Loans. The company also disburses other loans, including those secured by Muthoot Gold Bonds.

Power Finance Corporation
Power Finance corporation is financial backbone of power sector. This company enjoys the status of Navratna Company in India. It is an ISO certified company. Managed by Rajeev Sharma (Chairman & Managing Director) the Power Finance Corporation Limited provides financial aid to the different ongoing power projects of the company. It is a part of the Navratna Status Company and was established in the year 1986. Projects related to power transmission, Power generation and distribution are offered financial support by this company.PFC is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Rural Electricity Corp 
Rural Electrification Corporation Limited (REC), a NAVRATNA Central Public Sector Enterprise under Ministry of Power, was incorporated on July 25, 1969 under the Companies Act 1956. REC is a listed Public Sector Enterprise Government of India. Its main objective is to finance and promote rural electrification projects all over the country. It provides financial assistance to State Electricity Boards, State Government Departments and Rural Electric Cooperatives for rural electrification projects as are sponsored by them. REC provides loan assistance to SEBs/State Power Utilities for investments in rural electrification schemes through its Corporate Office located at New Delhi and 20 field units, which are located in most of the States.

Shree Global
Shree Global is an iron manufacturing company but it is also in the asset management business Shree Global Tradefin Limited is engaged in trading in sponge iron and steel products. The Company is also engaged in investment in securities. The Company’s operations are within India. Shree Global Tradefin Ltd is an India-based company. The company is engaged in the business of trading steel products. Their products include hot rolled (HR) coils/ cold rolled steel sheet, mild steel (MS) channel/ MS angle and hot rolled plate/ MS beam. Shree Global Tradefin Ltd was incorporated on October 15, 1986 in Mumbai with the name Bensons Steels Ltd. In April 2009, the company sold their entire shareholding of Revive Buildzone and Dealers Pvt Ltd. Consequently, Revive Buildzone and Dealers Pvt Ltd ceased to be a subsidiary of the company.

Shree Nath Commercial & Finance
The Company was originally incorporated as Shree Nath Commercial & Finance Limited on 21st December 1984 and now the company has changed its name to Proaim Enterprises Limited and currently the Company is engaged in the business of providing loans and Finance to firm, body corporate etc. and also to carry on business as merchants, traders, distributors, commission agents, selling agents, brokers, buyers, sellers, importers, exporters, dealers in textiles, jewelleries, medicinal work, and related activities.

Shriram City
Shriram City Union Finance (Shriram City) was established in 1986, and is part of the three decade–old Chennai– based Shriram Group. The company started as a deposit–accepting non– banking financial company (NBFC) and is India’s premier financial services company today, specializing in small–ticket retail finance. Shriram City has a comprehensive range of offerings comprising financing for Consumer Durables, 2, 3 & 4–wheeler finance (both new & pre–owned, passenger & commercial), Personal Loans, Small Business Loans and Retail Gold Loans. This has made Shriram City a dominant player in the field and the only NBFC offering a wide product range under one roof. The company has over 633 Business Outlets across the country, Shriram City enjoys a high credit rating, as well as listing on the BSE, NSE & Madras Stock Exchanges.

Shriram Transport Finance Company
This company offers financial services in matters related to transport. It was founded in the year 1979 by Ramamurthy Thyagarajan, AVS Raja and T. Jayaraman. Their headquarters is situated in Chennai, Tamil Nadu. Its other specializations include services in like mutual funds, general insurance, stock broking, and also finance for Heavy Duty Truck, Light Duty Truck, Passenger Vehicle, Farm Equipment, Mini Truck, Construction Vehicle, etc. It is one of the Top 10 Non Banking Financial Companies in India 2017. The founder of Shriram transport Finance was awarded Padma Bhushan award by government of India.

Sundaram Finance
Founded in 1954 by Shri. T. V. Sundram Iyengar, Sundaram Finance is one of the branches of the TVS group of companies. It offers financial aid for the purchase of commercial vehicles and passenger cars. It also caters to other needs like investments, business finance and retail business Sundaram Finance has a nationwide network supported by a dedicated team of service oriented personnel, who ensure personalized customer service. Sundaram Finance remains true to its core values of prudence, fairness, transparency and service excellence which have enabled it to emerge as a leader in its chosen field. The company has been rated MAAA by ICRA signifying highest safety.

Tata Capital
Tata Capital, the flagship financial services company of the Tata group, is a subsidiary of Tata Sons and is registered with the Reserve Bank of India as a systemically important non-deposit accepting core investment company (CIC). Tata Capital Limited was established in 2007 with the sole aim of providing focused and transparent financial solutions to help people realize their dreams. Registered with the Reserve Bank of India as a Systemically Important Non Deposit Accepting Non Banking Financial Company (NBFC), the company operates across various areas of business namely the Commercial Finance, Infrastructure Finance, Wealth Management, Consumer Loans and distribution and marketing of Tata Cards.Today, Tata Capital Financial Services Limited is 100 branches old and counting.

top microfinance companies in india

Annapurna Microfinance Pvt Ltd
Annapurna Microfinance Pvt Ltd (AMPL) is a Bhubaneswar based NBFC-MFI with gross loan portfolio of Rs 171 crore as on March 31, 2015. The organization’s operation spreads over 2 states (Odisha and Chattisgarh) with 55 branches reaching 1, 58,732 clients. It is a Non Banking F i n a n c i a l C o m p a n y regulated by Reserve Bank of India. AMPL is created for the purpose of growth of the micro finance operation in the areas, which are still away from the touch of the formal financial system of the economy and provide livelihood support.

Arohan Financial Services Pvt Ltd
Arohan Financial Services Private Limited is a Kolkata based NBFC-MFI. Arohan Financial Services Private Limited is a micro finance institution that offers a range of financial services to empower the underserved in West Bengal, Assam, Bihar, Jharkhand, and Odisha. It offers loans and insurance solutions. The company was formerly known as ANG Resources Ltd. It is registered with two different credit information bureaus, namely Equifax and High Mark and is additionally a full fledged member of the industry associations – MFIN and Sa-Dhan.

Asirvad Microfinance Service Pvt Ltd
Asirvad Microfinance Limited provides financial services for the small scale business women. It offers income generation program, product, and small and medium enterprise loans. Asirvad Microfinance Limited was formerly known as Asirvad Microfinance Pvt. Ltd. The company was founded in 2007 and is based in Chennai, India with branches in India. In February 2015 Manappuram Finance Ltd took over the Company and now has a stake of 90.38%.

Bandhan Financial Services Pvt Ltd
Bandhan Financial Services Pvt. Ltd. operates as a microfinance institution in India. It offers micro, micro enterprise, micro small and medium enterprise, and micro health loans. The company provides loans for women and families; and agriculture, zari work, embroidery, animal husbandry, crafts work, small trading, vegetable vending, fishing, poultry, rice husking, horticulture, manufacture of surgical instruments, pottery, small services, and small businesses, as well as for small cottage industries. Bandhan Financial Services Pvt. Ltd. was incorporated in 1995 and is based in Kolkata, India.

BSS Microfinance Pvt Ltd
BSS Microfinance works on the basic model of Grameen Bank, Bangladesh (popularly known as “Grameen Model”) with suitable local modifications. BSS Microfinance is 12year-old and started as Bharatha Swamukti Samsthe (BSS) in the form of charitable trust. Kotak Mahindra Bank has bought 99.49 per cent stake in Bengaluru-headquartered BSS Microfinance Pvt Ltd. BSS Microfinance Private Limited is a Non-Deposit taking Non Banking Financial Company-Micro Finance Institution (NBFC – MFI), registered with the RBI.

Cashpor Micro Credit
Cashpor Micro Credit provides microfinance to below poverty line women in eastern U.P. and Bihar. It also offers scholarship, health education, financial literacy and community health facilitator training programs; and insurance products. The company was founded in 1996 and is based in Varanasi, India. CASHPOR itself has become a financially sustainable microfinance institution for the poor, providing an alternative for profit MFIs.

Disha Microfin Pvt Ltd
Disha Microfin is an NBFC MFI registered with the Reserve Bank of India. Disha Microfin operates in base of Pyramid financial services sector, offering affordable financial services to under-banked but credit-worthy rural and semi urban households in Gujarat, Rajasthan, Madhya Pradesh and Karnataka. Started in 2009, Disha has, over the years, built a highly scalable, sustainable and profitable financial services business. Disha Microfin has a firm conviction that if the women are economically empowered, these families can be socially and economically uplifted. Disha provides microfinance products and services to rural, semi urban and urban women on a commercially sustainable basis.

Fusion Microfinance Pvt Ltd
Fusion Microfinance Private Limited, a non banking financial corporation, provides micro credit and micro insurance to rural women in India. The company was founded in 2010 and is based in New Delhi with branch locations in Roorkee, Saharanpur, and New Delhi. The company’s clients comprises of 100% women living in rural and semi-urban areas. The focus of Fusion Microfinance is reaching out to unbanked and providing loan to women entrepreneurs belonging to the economically and socially deprived section of the society.

ESAF Microfinance and Investments Pvt Ltd
ESAF Microfinance and Investments Pvt. Ltd. operates as a microfinance institution in India. Its products and services include microcredit for creating job opportunities; life insurance services for normal and accidental deaths; and business development services to set up or expand small businesses for self-reliance. ESAF Microfinance and Investments Pvt. Ltd. was formerly known as Pinnai Finance and Investments Pvt. Ltd. and changed its name to ESAF Microfinance and Investments Pvt. Ltd. in 2008. The company was founded in 1995 and is based in Thrissur, India. It has branches in Kerala, Tamilnadu, Chhattisgarh, Maharashtra, Madhya Pradesh, and Jharkhand, India. ESAF Microfinance and Investments Pvt. Ltd. operates as a subsidiary of ESAF Swasraya Multistate Cooperative Credit Society Limited.

Equitas Micro Finance Pvt Ltd
Equitas Micro Finance Limited, a non-banking finance company, provides micro finance services. It offers small value collateral free loans for a tenor of 1 to 10 years with fortnightly/monthly repayment; and collateral free individual loans to the existing borrowers, such as educational loans, kirana loans, etc. Equitas Micro Finance Limited was incorporated in 1994 and is based in Chennai, India. The objective of the company is to make available finance at reasonable cost and in a transparent manner to such customers and aim to achieve acceptable returns on investment so that we can continuously attract mainstream capital and human resources to better serve the chosen client segments.

ABN AMRO Bank N.V. a full-service bank, provides financial services to retail, private, commercial, and merchant banking customers in the Netherlands and internationally. It operates through retail banking, private banking, and corporate banking segments. The company offers deposit products, such as demand, savings, and loan products, including consumer, corporate, and other loans; residential mortgages; debit and credit cards; and life and non-life insurance products, as well as Internet and mobile banking services. It also provides clearing; commercial finance; and equipment leasing services.

Abu Dhabi Commercial Bank Ltd
ADCB India began operations in 1980 with the objective of further developing Indo-UAE trade relations and catering to the remittance and savings needs of the non-resident Indians working in the UAE and other countries in the GCC region. Over the last 30 years, ADCB has been in India serving these “niche” segments through its two branches – one in Mumbai and one in Bengaluru. The India operations of ADCB are organised into three business segments: Liabilities, Corporate Banking and Trade Finance (CTF), and Treasury.

American Express Bank
American Express Bank India, established in 1921, has created a brand name for themselves in the field of world-class travel and financial services. The role of American Express Bank Ltd. comprises of issuing a wide range of cards and travellers cheques to suit the needs of the elite clients. They happen to be the largest company with a widespread network of travelling points across India. American Express Travels has signed a Memorandum of Understanding (MoU) with the postal department, enabling few specified speed post offices to distribute and encash American Express Travellers Cheques.

ANZ established its Mumbai branch in 2011 and today supports institutional and corporate clients in India and across the other 34 markets in our global network with their banking requirements for local and offshore facilities. In May 2014, ANZ received in-principle approval from the Reserve Bank of India (RBI) to open new branches in Gurgaon, New Delhi’s prime business hub and in outer Bengaluru. ANZ commenced operations in Gurgaon in July 2015, and in outer Bengaluru in May 2016. It has a significant shared services hub operation in Bengaluru employing over 7000 staff supporting our businesses in Australia, New Zealand and Asia.

Allahabad Bank
The Allahabad Bank was established during 1865 and is the oldest among the joint stock banks in the country. It presently has in excess of 2500 branches. It has a representative office at Shenzhen along with a branch at Hong Kong. The products of Allahabad Bank are offered in three major segments – deposit products, credit retail products, and other credit products. Allahabad Bank offers loans of various types to meet the requirements of the individuals. It offers loans to self employed persons, business men, salaried employees and professionals.

Andhra Bank
Andhra Bank is one of the leading public sector banks in India. With its headquarters in Hyderabad, which is currently the shared capital city of Andhra Pradesh and Telengana, the bank has worked hard to be recognised for its pan India presence in the past decade, outgrowing the South Indian focus that it had retained since its inception. Andhra Bank was founded in 1923 by Dr. Bhogaraju Pattabhi Sitaramayya, an eminent freedom fighter and political leader from the West Godavari region of Andhra Pradesh. The bank obtained its registration on November 20, 1923. Andhra Bank was nationalised in the second phase of bank nationalisation in India in 1980.

Axis Bank
With a balance sheet size of Rs. 5, 25, 468 crores as on March 2016, Axis Bank has achieved consistent growth and stable asset quality. Founded in 1994 as UTI Bank, Axis Bank now has a network of 2904 domestic branches and 12743 ATMs spread across the nation. The bank also has seven international offices including the ones in Hong Kong, Singapore, Colombo, Dubai, Abu Dhabi, and Shanghai. Axis Bank employs over 37,901 employees and is reported to have net assets worth about USD 53 billion. Apart from retail banking, Axis Bank also operates in NRI Services, Investment banking and treasury operations and corporate banking.

Bank of Rajasthan
Bank of Rajasthan was India’s major Private Sector Bank that had specific Forex and manufacturing credit sub-divisions. The bank was dedicated to the greatest standard of client contentment through custom-made and professional services. With its monopoly in Rajasthan, Bank of Rajasthan had a countrywide existence through its branches that incessantly serves its varied clientele with an aim of flourishing with mutual efforts. The bank was actively involved in business banking, trade banking, back- up services, Ggobal banking, primary sector banking, customer banking, savings & wealth placement facilities, etc. Finally, the boards of both the banks on May 23, 2010 approved the merger for a share exchange ratio of 25 shares of ICICI Bank for 118 shares of BoR.

Bharat Overseas Bank
Bharat Overseas Bank is a rapidly expanding Indian private sector financial institution with its headquarters in Chennai. Initiated to acquire Bangkok subdivision of Indian Overseas Bank in 1973, Bharat Overseas Bank Limited became the only private bank authorized by the Reserve Bank of India to start a division outside the nation. Endorsed by around 7 banks, Bharat Overseas Bank is the single bank that signifies India in Thailand and is providing banking services to the Indian origin entrepreneurs for the last 25 years. The bank has been successful in marking a name for itself even since its incorporation in the field of client oriented banks.

Bank of Baroda
The Bank of Baroda was established in 1908. Ever since its inception, the bank has been growing and expanding its branches successfully. At the turn of a century, the bank had its presence in 25 countries across the world. Bank of Baroda has progressively taken a step towards commitment and values by providing uncompromising standards of service to its customers, stakeholders, employees and the like. The initial capital invested was Rs10 Lakhs.

Bank of Maharashtra
Bank of Maharashtra, one of the leading banks in India, has its headquarter located in Pune. Registered on September 16, 1935 by Prof. V. G. Kale and late Mr. D. K. Sathe, Bank of Maharashtra started its operation on February 8, 1936 with a mere authorized capital of ` 10 lakhs and issued capital of ` 5 lakhs. The bank was established with a goal to meet the banking needs of the common people. Bank of Maharashtra did reasonably well in quick period of time. The deposits crossed ` 1-crore mark within the year 1945. The bank also got listed on the Bombay Stock Exchange in 1958. Currently, Bank of Maharashtra has got an extensive network of 1890 branches with 1827 ATMs, and 902 CBS branches.

Bandhan Bank Ltd
Bandhan Bank Limited was incorporated on December 2014 as a wholly-owned subsidiary of Bandhan Financial Holdings Limited. Bandhan received the in-principle approval of the RBI for setting up a universal bank in April 2014; the banking regulator gave its final nod in June 2015. Incidentally, Kolkataheadquartered Bandhan is the first bank to be set up in eastern part of India after Independence. Bandhan Financial Holdings is owned by Bandhan Financial Services Limited (BFSL), the largest micro finance organization in India. In sync with the philosophy of ‘Aapka Bhala, Sabki Bhalai’ and keeping financial inclusion at the heart of it, Bandhan is committed to provide a host of products and services, competitively on a par with India’s top private and state-owned banks.

Bank of Nova Scotia
Scotiabank is also known as “Bank of Nova Scotia”. It was founded in 1832 in Halifax. Currently, Brian J. Porter is serving as the President and CEO of Scotiabank. It is also serving the customers in India with its banking services. Currently it is having 5 branches in India and those are in Mumbai, New Delhi, Coimbatore, Bangalore and Hyderabad. According to the Scotia Bank, they offer a broad range of corporate, commercial, trade and correspondent banking services, along with some retail banking products.

BNP Paribas 
The company was formerly known as Banque Nationale de Paris and changed its name to BNP Paribas SA in May 2000. BNP Paribas SA was founded in 1848 and is based in Paris, France. IT has had a presence in India for over 150 years having established its first branch in Kolkata, in 1860. With this unparalleled experience of the Indian market, it is among the leading corporate banks in the country. Through its branches in eight key cities — Mumbai, Delhi, Kolkata, Chennai, Hyderabad, Bangalore, Ahmedabad and Pune — BNP Paribas offers sophisticated solutions in its three core businesses — corporate and institutional banking, investment solutions and retail banking — many of them in association with strong local partners.

Barclays Bank
In India, Barclays plc is one of the largest UK employers and employs over 23,000 people spread across its banking, technology and shared services operations. Barclays Bank plc, which has had a branch presence in India since 1990, has achieved market leading positions in it’s chosen lines of business that include corporate and investment banking. The bank has many branches in India and providing number of services like loan banking, NRI banking, commercial banking etc. Services like trade, finance, loans, deposits and treasury solutions are also provided to the customers. From funding the world’s first industrial steam railway in 1819, to unveiling the world’s first automated teller machine in 1967, Barclays has had a string of firsts to its credit in its more than 300 years of history.

Bank of America
Bank of America is one of the foreign banks operating in India. It was founded in 1998 and before that it was working as Bank of Italy from the year, 1904. Bank of America is incorporated in USA and serving the customers worldwide. It started its operation in India in 1964 with their first office / branch in Mumbai, India. According to the Bank of America, they offers a comprehensive suite of financial products and solutions to the top Corporates, Multinationals, Multilateral agencies & Foreign Government entities and Financial Institutions in India. It serves 47 million consumer and small business relationships with approximately 4,700 retail financial centers, 16,000 ATMs, and awardwinning online banking with approximately 32 million users and 19 million mobile users.

Bank of Bahrain and Kuwait
The company was formerly known as The Bank of Bahrain and Kuwait B.S.C. It was founded in 1971 and is headquartered in Manama, the Kingdom of Bahrain. BBK B.S.C., together with its subsidiaries, provides various retail and commercial banking products and services for individuals, corporate and institutional customers. It operates through four segments: Retail Banking; Corporate Banking; International banking; and Investment, treasury and other activities. BBK specializes in providing structured finance to mid corporates and in the SME region. It also provides ECBs to large corporates in India.

Bank of Tokyo-Mitsubishi UFJ
Bank of Tokyo-Mitsubishi UFJ Bank is one of the largest Banks in Japan. It comes under the company “Bank of Tokyo-Mitsubishi UFJ, Ltd.”. It was established on January 1, 2006. Previously, there were two banks i.e. Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd. And after the merger of these banks, the Bank of Tokyo-Mitsubishi UFJ Bank was established. It offers and provides various products and services to their worldwide customers. It is also one of the foreign banks operating in India and some of the products and services offered and provided by the bank to the Indian Customers are corporate banking loans, deposit accounts, remittances, trade finance and bank guarantees. All these services are served to the customers in India via the branches / offices in Chennai, Mumbai, Neemrana and New Delhi.

Capital Small Finance Bank
Capital Small Finance Bank Limited, India’s 1st Small Finance Bank, started operations on April 24, 2016. Capital Local Area Bank, along with nine other entities, was granted in-principle approval by the Reserve Bank of India to set up ‘Small Finance Bank’ on September 16, 2015. Capital Local Area Bank, the largest local area bank in the country, before conversion to ‘Small Finance Bank’ has been into operations for last 16 years with excellent performance in all spheres. The bank has been operating in Jalandhar, Kapurthala and Hoshiarpur in Punjab for the initial 13 years. In January 2013, the RBI accorded the approval for expansion in the Bank’s area of operation to two more districts of Ludhiana and Amritsar in Punjab.

Catholic Syrian Bank
Catholic Syrian Bank, Ltd is an India-based company, which provides banking services. The company’s products and services are insurance, deposits, advances, RTGS, NEFT and international money transfer services. Its deposits include current account, cumulative deposit, CSB student support saving scheme, savings account, Acharya deposits, DOT deposit, family welfare, fixed deposit and CSB tax saving support. At present, the bank has a network of 430 branches which includes NRI/SSI/Industrial Finance and Service branches and more than 240 ATM’s across India.

City Union Bank
City Union Bank was incorporated on 31st October, 1904 as ‘The Kumbakonam Bank’. The bank in the beginning preferred the role of a regional bank and slowly but steadily built for itself a place in the Delta District Thanjavur. The company set up its first branch at Mannargud on 24th January 1930. In the year 1957 the bank took over assets and liabilities of the Common Wealth Bank. Due to this five Branches of Common Wealth Bank located at Aduthurai, Kodavasal, Valangaiman, Jayankondacholopuram and Ariyalur were transferred to City Union Bank. In April 1965 two bank namely ‘The City Forward Bank’ and ‘The Union Bank’ were amalgamated and name of bank was changed to ‘The Kumbakonam City Union Bank’. In November 1965 CUBL set up its first branch at Madras. Due to this six more branches added to the existing one. In December 1987 the name of bank was changed to present one. Today, the Bank has a network of 196 Branches spread across country.

Coastal Local Area Bank
The private bank was established under the Companies Act and is directly regulated by RBI. Coastal Bank is the first local area bank approved by the Reserve Bank of India in 1999. Coastal Bank operates in one of the most prosperous regions of India; the five districts of Krishna, Guntur, West Godavari, East Godavari and Visakhapatnam in Andhra Pradesh. The Bank has 39 branches in these five districts with the corporate office in Vijayawada. Coastal Bank is profitable since inception.

Credit Suisse
The company was founded in 1856 and is based in Zurich, Switzerland. Credit Suisse AG operates as a subsidiary of Credit Suisse Group AG. It operates 447 offices and branches. The company offers its products and services to private, corporate, institutional, ultra-high-net-worth and high-networth individuals, financial institutions, governments, and institutional investors, as well as affluent and retail clients. Credit Suisse AG provides private banking and investment banking services in Switzerland and internationally. It operates through Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, and Investment Banking & Capital Markets segments.

Crédit Agricole
Crédit Agricole CIB, India operates as a foreign bank for capital and treasury markets in India. The company was formerly known as Calyon Bank and changed its name to Credit Agricole Corporate and Investment Bank (India) in April 2010. The company was founded in 1981 and is based in Mumbai, India. Crédit Agricole CIB, India operates as a subsidiary of Crédit Agricole Corporate and Investment Bank S.A. The bank is located as today in Bangalore, Chennai, Delhi, Mumbai and Pune. From these 5 branches, the bank also deals with the large markets in Ahmedabad, Kolkata, Hyderabad and Baroda. It offers a comprehensive range of products and services, tailored to the needs of Indian companies, multinational companies and financial institutions.

Canara Bank
Canara Bank was established in 1906 by Ammembal Subba Rao Pai in Mangalore. The founder of the bank was a great visionary, who sensed the need of a bank in Mangalore which in those days was a small port in Karnataka. Having successfully developed over the years as a major financial conglomerate of the country, Canara Bank today holds an unmatched reputation especially in South India. Known for its diverse product portfolio and excellent services and facilities, Canara Bank has achieved several milestones in the financial sector. Personal banking, corporate banking, NRI banking and priority & SME credit are some of the important functions provided by the bank.

Central Bank of India
Central Bank of India is one of the largest commercial banks in India. Founded in December 21, 1911 by Sorabji Pochkhanawala, Central Bank of India is believed to be the first commercial bank in India. In 1923, it acquired Tata Industrial Bank. It has made its position in the Indian banking industry through a range of innovative and unique banking activities, which continued even after the nationalization of banks in India in 1969. It is one of the oldest commercial banks of India, and reportedly is the first truly Indian bank, which was totally owned and established by Indian without any foreign help. It claims to be the first bank to be conferred with the National Award for Excellence in Micro and Small Enterprises (MSE) Lending for the year 2007-08.

Centurion Bank of Punjab
Centurion Bank, a joint venture between 20th Century Finance Corporation and Keppel Group of Singapore through Kephinance Investment, was established on June 30, 1994. Initially it started with a network of ten branches. In the following year, Centurion Bank amalgamated 20th Century Finance Corporation. Then came June 29, 2005 when the Centurion Bank and the Bank of Punjab merged together to form Centurion Bank of Punjab. In 2006, Centurion Bank of Punjab took over Lord Krishna Bank, established at Kodungallur in Kerala. During 1960, this bank also acquired three commercial banks, viz. Kerala Union Bank, Josna Bank and Thiyya Bank. Finally in 2008, HDFC Bank took over Centurion Bank of Punjab.

Corporation Bank of India
The Corporation Bank in India started its journey in the name of Canara Banking Corporation (Udupi) Ltd in 1906 with a sum of Rs 5000 in Udupi, near Mangalore. Corp Bank received RBI license in 1952 and saw a merger with the Bank of Citizens in 1961. In April 1980, it was given a status of nationalized bank. From the time of its establishment till today, the bank has never looked back. Currently it is one of the well recognized Public Sector Banks in India. The bank has introduced an effective range of products and services to meet the needs of the customers who run Micro and Small Enterprises (MSE). Forex, cash management, project finance, corp vyapar, corp rental and working capital are just to name a few of them.

Citibank was founded in India in 1902 with its head office located in Mumbai, the commercial hub of the nation. Citibank India has carved a niche for itself in the area of providing topnotch consumer finance lending services. The products offered by the bank are also thoughtfully designed and plenty in number. Citibank belongs to Citigroup, which is a well recognized financial services company. It was started in 1812 and is reckoned amongst the largest banks in the United States. The New York based bank was firstly christened as City Bank of New York, which later became to be known as the First National City Bank of New York. According to reports, Citibank boasts of a base of 15 million users, who are served by its online services division alone.

Cosmos Bank
Initiated in the year 1906, the Cosmos Co-operative Bank Ltd is widely known for its excellent services. Being the oldest municipal co-operative banks in India, Cosmos is at present the nation’s foremost organized co-operative banks with its multi state presence. Cosmos Co-operative Bank Ltd, over the years, has carved a market for itself in the metropolitan banking segment, facilitated by its affluent legacy, honesty, devotion to the discreet banking measures and technology driven client facilities. It has also accomplished comprehensive expansion not only in context of monetary pointers or levels but also in general growth of measures.

Dena Bank
Dena Bank was established on May 26, 1938. It is listed with important stock exchanges in India like the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). It is one of the leading public sector banks in the country. This nationalized bank has its head office in Mumbai. At present, the Chairman and Managing Director of the bank is Shri Ashwani Kumar. The bank has launched Core Banking Solutions (CBS) and is planning to cover 850 branches out of its 1,122 branches (including extension counters) for these solutions. Dena Bank serves its customers with its 1,122 branches spread across the length and breadth of India and 295.

Deutsche Bank
Deutsche Bank, a leading global investment bank was established in India, in 1980. Known as Deutsche Bank AG, the bank launched its retail banking service in India in October 2005, followed by the launch of credit card services in July 2006. Deutsche Bank India offers its clients a complete suite of high end products and services to make them undergo an excellent banking experience. Currently Deutsche Bank employs more than 78,000 employees in over 70 countries worldwide and has branches in various cities of India, including New Delhi, Mumbai, Chennai, Kolkata Bangalore, Gurgaon, Pune, Salem, Vellore, Aurangabad and Noida.

Development Credit Bank
Development Credit Bank Ltd is one of India’s most preferred private sector banks. With over 80 well-equipped sub-divisions spread across twelve states of India, Development Credit Bank has been a major contributor in introducing many value added measures in Indian banking sector. The bank offers an exhaustive range of hi-tech products for clients in Small and Medium Enterprise, trade and business banking market section in selected regions. DCB has strong foundation in India since its inauguration in 1930. Aga Khan Fund for Economic Development (AKFED), endorser of DCB possesses over 23% rights in the company. AKFED is a global development group focuses to encouraging private enterprise and creating financially strong firms in the expanding markets. The group is active in more than 15 nations in the expanding economy.

DBS Bank
Previously known as the Development Bank of Singapore Limited, the DBS Bank was started by the Government of Singapore in June 1968. DBS is a leading financial services group in Asia and has always been at the forefront of creating and delivering best-in-class solutions for its customers. The bank has branches in Chennai, Kolkata, Bangalore, Mumbai, Kolhapur, Nashik, Cuddalore, Moradabad, Pune, Salem, Surat and Delhi. It also owns 37.5 percent stakes in DBS CHolamandalam, a financial institution. For seven years in a row, DBS has been named “Safest Bank in Asia”.

Doha Bank
Doha Bank is one of the largest commercial banks in Qatar. It was incorporated in 1978 and commenced its domestic and international banking services in Doha, Qatar on March 15, 1979. Doha Bank Qsc, Qatar opened its first branch in India at Mumbai, on June 10, 2014 and currently has 3 branches located at Sakhar Bhavan, Nariman Point, Mumbai, Raheja Centre, Nariman Point, Mumbai and Kochi. The bank also has wide correspondents network globally to extend Trade Finance, Remittance related services. It offers credit facilities, range of deposits, NRI services. Banks branches in India has fully equipped NRI department to provide personalized services to its NRI customers.

DCB Bank Ltd
DCB Bank Limited is a scheduled commercial bank. The bank’s segments include treasury operations, corporate/wholesale banking, retail banking and other banking operations. The treasury operations segment includes all financial markets activities undertaken on behalf of the Bank’s customers, trading, maintenance of reserve requirements and resource mobilization from other banks and financial institutions. The corporate/ wholesale banking segment includes lending, deposit taking and other services offered to corporate customers. The retail banking segment includes lending, deposit taking and other services offered to retail customers. The other banking operations segment includes para banking activities like third party product distribution, merchant banking. The bank has approximately 200 branches and approximately 410 automated teller machine (ATM) centres.

Dhanlaxmi Bank
Dhanlaxmi Bank was incorporated in 1927 by group of entrepreneurs at Thrissur located in Kerala. The bank started with a seed capital of Rs 11,000 and with workforce of 7 employee. Much later in 1977, the bank was converted into Scheduled Commercial Bank. Presently it has a pan–India network of 181 branches and 26 extension counters spread across in states like Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Maharashtra, Gujarat, Delhi and West Bengal. The bank’s corporate office is located at Thrissur and Industrial Finance Branch at Kochi has received ISO 9001–2000 certification. In August 2010, the bank has conveyed the approval of Registrar of Companies, Kerala and Lakshadweep (RoC) for change of name of the Bank from the present ‘The Dhanalakshmi Bank’ to ‘Dhanlaxmi Bank”.

Equitas small Finance Bank Ltd
The Bank offers savings accounts, fixed deposits, loans, debit cards, investment, and insurance services. Equitas Small Finance Bank serves customers throughout India. It is a new age bank that gives children, youth, families and business people across India, a new and fun way to bank.

Federal Bank
Federal Bank is a private sector bank in India. The head office of this prestigious bank is located at Aluva, Kerala. Previously known as Travancore Federal Bank Limited, the Federal Bank Limited in its entire span of customer services has seen both ups and downs. The bank started with an auction-chitty business along with other banking transactions related to agriculture and industry. In the year 1945, the paid-up capital of the bank touched Rs.71000 and a new Board of Directors was constituted. During this period, the bank also incorporated new Articles of Association. The same year its branch was opened at Aluva. Subsequently, Federal Bank came with its branches in Angamally (1946) and Perumbavoor (1947). However, it came with a massive expansion plan in the years 1975 and 1976 by opening 53 and 42 branches respectively. From that time onwards till today, the bank has continued to incorporate the effective changes to ensure smooth banking experience for its customers.

Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. With listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings plc are held by around 220,000 shareholders in 119 countries and territories. The shares are traded on the New York Stock Exchange in the form of American Depositary Receipts. With around 4,400 offices worldwide, it aims to be where the growth is, connecting customers to opportunities, enabling businesses to thrive and economies to prosper, and ultimately helping people to fulfil their hopes and realise their ambitions. In India, the introduction of HSBC Bank can be dated as early as 1853, with the establishment of the Mercantile Bank of India in Mumbai. HSBC Bank is well known for having established the first ATM in India in the year.

The Housing Development Finance Corporation Limited, popularly called HDFC Bank, was set up in India in August 1994 with the name “HDFC Bank Limited”. This was the 1st organization to be approved by R. B. I. (Reserve Bank of India) to establish a private sector bank. However, this scheduled business bank started its operations mainly from January, 1995. Headquartered in Mumbai, this is one of the main companies involved in housing finance. With an aim to be a world class bank, this bank in India holds a good track record of performance in both national as well as global markets. The bank has a India network of 684 branches in 316 cities in India and over 1663 ATM’s.

IDFC Bank Ltd
The bank’s segments include treasury, corporate/wholesale banking, retail banking and unallocated. The treasury segment consists of its investment portfolio, money market borrowing and lending, among others. The corporate/wholesale banking segment provides loans, non-fund facilities and transaction services to corporates. The retail banking segment constitutes lending to individuals/business banking customers through the branch network and other delivery channels subject to the orientation, nature of product, granularity of the exposure and the quantum thereof. It operates approximately 65 branches, over 10 automated teller machines (ATMs) and approximately 15 offices, which are spread throughout India. It offers savings account, fixed deposit, recurring deposit, debit card, home loans, payments and online services, among others.

IDBI Bank Ltd
IDBI Bank is one of the leading commercial banks of India. It has been in existence for more than 40 years. It was incorporated on 1 July 1964 as the Development Financial Institution (DFI) and continued its operations under this name till September 2004. From October 2004, it became a complete commercial bank. A major point in its history came when IDBI Bank merged with IDBI Ltd., which also happens to be its parent company. After its latest merger with the United Western Bank on 3 October 2006, IDBI is now regarded as a top notch name among the new generation banks of India. Most of its shares are held by the Indian Government and it caters to millions of consumers with a wide range of services in both corporate and retail segment.

Indian Bank
Indian Bank is one of the indigenous banks of India that emerged as a result of the Swadeshi Movement during the British Raj. The bank was established on 15th of August, 1907. One of the prime figures associated with the establishment of the bank was V. Krishnaswamy Iyer, a lawyer from Chennai. The bank soon spread its wings outside India too, and opened its branch in Colombo, Sri Lanka in 1932 and Rangoon, Myanmar in 1940. The bank was further nationalized by the Government of India in 1969. The modest beginning made by the Indian Bank has come a long way since then, with 1642 branches located nationwide within India and overseas branches in Singapore and Colombo as of April 2009. The bank also has 40 overseas correspondent banks in 70 countries, giving a strong presence internationally.

Indian Overseas Bank
Established on February 1937 by Mr M. Ct. M. Chidambaram Chettyar, leader in banking, insurance and industry areas, Indian Overseas Bank (IOB) had the twin aims of attaining specialization in overseas banking as well as foreign exchange business. IOB has always been talked about for its excellent presence and services. IOB received the status of nationalized bank in 1969 along with other 13 major banks. IOB was the first bank to receive ISO 9001 Certification from Det Norske Veritas (DNV), Netherlands in the month of September 1999 for its Computer Policy and Planning Department. Besides, in its journey, it has won many awards and accolades too. It received NABARD’s award 2000-2001 for creating maximum number of credit links of Self Help Groups in comparison to all the other Banks in Tamil Nadu.

IndusInd Bank
IndusInd Bank Ltd is the new generation Indian bank based at Mumbai – the financial capital of the nation. Founded in 1994, IndusInd Bank Ltd provides a range of products and services to its customers, which include transactional, commercial and electronic banking products and services. It is also one of the foremost new generation private banks in India. Since its incorporation, IndusInd Bank Ltd went through a good climbing phase to reach at its current status within a very short period of time. The bank also achieved ISO 9001:2000 Quality Management System certification for its ‘Entire Network of Branches’. It’s the first Indian Commercial Bank to achieve the distinction.

ING Vysya Bank Ltd
The ING Vysya Bank Ltd was established in October 2002. The bank came into existence when the Vysya Bank Ltd went into a venture with global financial giant ING. Vysya Bank Ltd was one of the first private sector banks in the country and was set up in 1930. In 1948, the Vysya Bank was listed among the scheduled banks. In order to increase its profit and add to its operations, the Vysya Bank Ltd merged with ING. Recently, in 2015, RBI approved the merger of of Kotak Mahindra Bank and ING Vysya Bank. From then, all ING branches function as Kotak branches.

ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. The Bank is engaged in providing a range of banking and financial services, including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury products and services. Its international banking is focused on providing solutions for the international banking requirements of its Indian corporate clients and leveraging economic corridors between India and the rest of the world. The Bank caters to the financial needs of women entrepreneurs through its Self-Help Group (SHG) program as a part of its microfinance initiatives.

Jammu and Kashmir Bank
Jammu and Kashmir (J&K) Bank, incorporated on October 1, 1938, was the first bank in the country to emerge as a state–owned bank. On July 4, 1939 the bank commenced its business. Later, in 1971 the bank received the status of a scheduled bank. The government of Jammu & Kashmir owns a 53% stake in the bank. The bank is listed on the NSE and BSE. J&K Bank follows a two-legged business model whereby it seeks to increase lending in its home state which results in higher margins despite modest volumes, and at the same time, seeks to capture niche lending opportunities on a pan-India basis to build volumes and improve margins.It is only bank in private sector that has been designated as agent of RBI for banking.

JP Morgan Chase Bank
JP Morgan Chase Bank is one of the biggest banks in the global scenario. It ranks among the oldest financial firms and operates in almost 60 countries across the world. The cutting edge financial and banking services offered by the bank have made it a trusted name worldwide. The bank has a huge customer base and offers an array of facilities and services to cater to the target audience. JP Morgan Chase Bank came into existence in the year 2008 after the merge of a number of financial institutions such as J.P. Morgan & Co, Chase Manhattan Bank, Bear Stearns, Bank One, First Chicago Bank, National Bank of Detroit, Washington Mutual, Texas Commerce Bank, Great Western Bank and Providian Financial.

Karnataka Bank Ltd
The head office of Karnataka Bank Limited is located in Mangalore. This is a premier private sector bank with a tailor-made range of products and services to cater to diverse markets, trades and personal and corporate needs of the customers. To ensure an easy and smooth banking experience for customers, it offers excellent deposits and borrowing facilities. It extends useful help in the area of overseas transactions as well as provides maximum returns on surplus funds. Karnataka Bank Limited was assigned the status of a Scheduled Commercial Bank in 1924. Having matured for more than 85 years in the banking industry of India, the bank has won the confidence of its customers, which in turn has helped it develop a network of 458 branches in 20 states and 2 Union territories of India.

Kotak Mahindra Bank
Kotak Mahindra Bank (KMB) is among the leading financial organisations of India, with a range of financial services that cater to the day-today requirements of the customers. Kotak Mahindra Bank’s products span across various verticals such as commercial banking, stock broking, mutual funds, life insurance and investment banking, so that diverse needs of individuals and corporate sector are comfortably taken care of. The Kotak Mahindra Group was founded in 1985 by Uday Kotak and came to be known as Kotak Capital Management Finance Limited, promoted by Uday Kotak, Sidney A. A. Pinto and Kotak & Company. A stake in the Kotak Mahindra Group was taken in by industrialists Harish Mahindra and Anand Mahindra and hence, the company changed its name to Kotak Mahindra Finance Limited.

Karur Vysya Bank
The Karur Vysya Bank Limited (the Bank) is an India-based banking company. It is engaged in providing banking and financial services, including commercial banking and treasury operations. The bank’s business segments include treasury, corporate and wholesale banking, retail banking and other banking operations. Karur Vysya Bank was started in 1916 in Karur, then a small textile town with a vast agricultural background, by two illustrious sons of the soil – Sri M.A. Venkatarama Chettiar and Sri Athi Krishna Chettiar. What started as a venture with a seed capital of Rs 1 lakh has grown into a leading financial institution that offers a gamut of financial services to millions of its customers under one roof. The bank has approximately 670 branches and over 1,650 automated teller machines (ATMs).

Lakshmi Vilas Bank
Lakshmi Vilas Bank (LVB) was founded eight decades ago in 1926 by seven people of Karur under the leadership of VSN Ramalinga Chettiar, mainly to cater to the financial needs of varied customer segments. The bank was incorporated on November 3, 1926 under the Indian companies act, 1913 and obtained the certificate to commence business on November 10, 1926, the bank obtained its license from Reserve Bank of India (RBI) in June 1958 and in August 1958 it became a scheduled commercial bank. Mechanization was introduced in the head office of the bank as early as 1977. At present, with a network of 469 branches, with PAN India presence, supervised by 11 Regional Offices. Bank has 25 “B” Category Branches.

Mizuho Corporate Bank (Mid Size Banks)
The company was formerly known as Mizuho Corporate Bank, Ltd. and changed its name to Mizuho Bank, Ltd. in July 2013. It was founded in 2002 and is headquartered in Tokyo, Japan. Mizuho Bank, Ltd. is a subsidiary of Mizuho Financial Group, Inc. Mizuho Bank, Ltd. provides financial products and services to individual and corporate clients. The company offers current and ordinary, deposits at notice, time and specified deposits, deposits for tax, non resident deposits in yen, foreign currency deposits, and negotiable time deposits; and loans by bill, loans on deed, and overdrafts, as well as discounts for bank acceptances, commercial papers, and documentary bills. It also buys and sells government bonds; invests in government bonds, corporate bonds, stocks, and other securities; and provides exchange for remittance, credit to current accounts, and money collection services.

Mashreq Bank
Mashreq Bank is one of the foreign banks operating in India. It comes under the Mashreq PSC which is a financial institution in the United Arab Emirates (UAE). This financial institution was e established in 1967. They provide various products and services along with banking option. Banking options provided by the company include are personal banking, corporate banking, business banking and international banking. It also provides products and services like debit cards, credit cards, banking accounts, loans, insurance, cash management, etc.

National Australia Bank
National Australia Bank Limited is a business bank. The company provides personal banking and business banking services. The company’s segments include Australian Banking, NZ Banking, NAB Wealth, and corporate functions and others. Its Australian Banking includes personal banking and business banking, offering a range of banking products and services to retail and business customers, ranging from small and medium enterprises to large institutions. While, the NZ Banking comprises the retail, business, corporate and insurance franchises in New Zealand. These franchises operate under the Bank of New Zealand (BNZ) brand. The company’s NAB Wealth provides superannuation, investment and insurance solutions to retail, corporate and institutional clients. It operates a network of financial advisors in Australia under brands, which include MLC, JBWere, JANA and Plum.

National Bank of Agriculture and Rural Development
National Bank for Agriculture and Rural Development provides institutional credit for agriculture and rural development in India. The company offers short and medium term loans for seasonal agricultural operations, regional rural banks, PSBs, and CCBs; and relief to farmers whose crops are damaged due to natural calamities. It also provides long term loans for agriculture and allied activities; artisans, small scale industries, non-farm sector, handicrafts, handlooms, powerlooms, etc.; and activities of voluntary agencies and self-help groups working among the rural poor. Further, it provides direct finance, including loans for food parks and food processing units in designated food parks; loans to warehouses, cold storage, and cold chain infrastructure; credit facilities to marketing federations; rural infrastructure development fund; direct refinance to cooperative banks; and financing and supporting producer organizations. The company was founded in 1982 and is based in Mumbai, India with regional offices in India.

Nainital Bank
The Nainital Bank Limited was established in 1922 with the objective to cater banking needs of the people of the region. In the year 1973, Reserve Bank of India directed Bank of Baroda, a premier nationalized bank, to manage the affairs of the Nainital Bank Limited. The Bank has 130 branches operating in five states i.e. Uttarakhand, Uttar Pradesh, Delhi, Haryana and Rajasthan. All the branches of the Bank are operating in CBS platform. Bank also provides RTGS, NEFT, SMS Alerts, ATM Card bearing RuPay and Mobile Banking facilities to its customers. Nainital Bank is a customer centric bank and provides prompt and personalized services to its customers in latest technological environment.

Oriental Bank of Commerce
Set up in 1943 at Lahore, the then part of India, Oriental Bank of Commerce (OBC) is a public sector Indian bank. Postpartition, the bank shifted to India and was nationalized in 1980. Since its inception, Oriental Bank has seen many ups and downs, but it has emerged unscathed out of all this turmoil. The bank enjoys a good reputation among its customers. The National Institute of Bank Management has rated Oriental Bank of Commerce as customer friendly bank.

Punjab & Sind Bank
It was in the year 1908 that the idea of elevating the poorest of the poor was initiated by the inception of the Punjab & Sind Bank. Brainchild of Bhai Vir Singh, Sir Sunder Singh Majitha and Sardar Tarlochan Singh – the bank has covered miles. Among the people of Punjab, they have attained the highest level of respect. With the aim to help the weaker section of the society, for uplifting their standard of living, social commitment was the main agenda. With more than decades of experience in the banking sector, the bank is still striving strong.

Punjab National Bank
Punjab National Bank, popularly called P. N. B., initially started its business on April 1895. With their mission to provide banking services to the un-banked, they aim to be the leading player in global banking. Over the time, they have become a known name, especially in the Indo-Gangetic plains. The huge network of this bank includes over 5, 100 offices, which include 5 overseas branches and more than 60 million customers. This bank has continued to maintain their leadership position for its strong fundamentals, superior brand image as well as huge franchise value.

RBL Bank
RBL Bank is one of India’s fastest growing private sector banks established in 1943. It currently services over 2 million customers through a network of 201 branches and 373 ATMs spread across 16 Indian states and Union Territories. RBL Bank is listed on both NSE and BSE (RBLBANK). RBL Bank has been recognised by the World Economic Forum as a ‘Global Growth Company’ (GCC). It has also been awarded as ‘India’s Best Bank (Growth)’ in the ‘Small-Sized Bank segment’ by Business Today-KPMG Best Bank Study for four consecutive years – 2012, 2013, 2014 and 2015. Today, the bank offers specialised services under six business verticals namely: corporate and institutional banking, commercial banking, branch and business banking, agribusiness banking, development banking and financial inclusion, treasury and financial markets operations.

Sangli Bank
Sangli Bank is an unlisted private sector bank headquartered at Sangli, Maharashtra. At March 31, 2006, Sangli Bank had deposits of Rs. 2,004 crore, advances of Rs. 888 crore, net NPA ratio of 2.3% and capital adequacy of 1.6%. As the year ended, it incurred a loss of Rs. 29 crore. Sangli Bank has 198 branches and extension counters, including 158 branches in Maharashtra and 31 branches in Karnataka. Approximately 50% of the total branches are located in rural and semi-urban areas and 50% in metropolitan and urban centres. The bank has approximately 1,850 employees. Finally, in December 2006, all stock amalgamation of Sangli Bank with ICICI Bank was approved by Board of Directors of respective banks.

Reserve Bank of India
India’s central banking authority is Reserve Bank of India (RBI), which was founded in April 1935. The official owner of the Reserve Bank of India is the Government of India. The Reserve Bank of India Act 1934 was enacted to establish this organisation. The monetary policy of the Indian Rupee is subject to the authority of the RBI. The headquarter of the RBI is where the Governor’s seat is. Various policies are also formulated at the Central Office (headquarter). The RBI’s Central Office is in Mumbai, Maharashtra. The RBI headquarter was established in Kolkata (West Bengal) in 1935, but was shifted to Mumbai permanently two years later. The present Governor of the Reserve Bank of India is Dr. Urjit R. Patel.

Royal Bank of Scotland
The Royal Bank of Scotland Group plc (RBS) is a banking and financial services company. The bank’s history in India goes back to 1921. Headquartered in Edinburgh, RBS serves over 24 million customers worldwide. The Company provides financial products and services to personal, commercial, corporate and institutional customers, through its subsidiaries, The Royal Bank of Scotland and National Westminster Bank Plc (NatWest), as well as through other brands, including Ulster Bank and Coutts. The core functional area of the bank comprises foreign exchange, interest rates, commodities, debt capital markets, bank financing, financial advisory and transaction banking etc.

Shinhan Bank, is one of the foreign banks operating in India. Basically, it is a well known and greatly admired bank headquartered in Korea. It is a wholly owned subsidiary of Shinhan Financial Group. It was established in 1897. They started their operation in India in 1996. At that time, they opened their first branch in Mumbai. Later on, in December 2006, they expanded their business with the second branch in India and that was in New Delhi, capitol of India. In 2010, they opened their third branch in Vellore, India.

South Indian Bank
South Indian Bank (SIB) was incorporated in 1908 by a group of enterprising men at Thrissur. One of the earliest banks in South India, it came into being during the Swadeshi movement. The bank started with an intention to induce the habit of savings in the community on one hand and to free the business community from the clutches of greedy money lenders on the other by providing need based credit at reasonable rates of interest. It became the first private bank in Kerala to receive scheduled bank status in 1946 under the RBI Act. SIBL was the first private sector bank to open a NRI branch in November 1992. It became the first private bank in Kerala to open an ‘Overseas Branch’ to cater exclusively to the export and import business in June 1993.

Small Industries Development Bank of India
The Small Industries Development Bank of India is a state-run bank aimed to aid the growth and development of micro, small and medium scale industries in India. Set up on April 2 1990 through an act of parliament, it was incorporated initially as a wholly owned subsidiary of Industrial Development Bank of India. Current shareholding is widely spread among various state owned banks, insurance companies, etc. Beginning as a refinancing agency to banks and state level financing bodies for their credit to small industries, it has diversified in to many activities, including direct credit to the SME through more than 100 branches in all major clusters of SME in India. Besides, it has been playing the development role in several ways such as support to micro-finance institutions for capacity building and on lending.

State Bank of India
State Bank of India is the largest commercial bank in India by assets, deposits and customers and one of the top 20 banks in Asia. With over 16,500 branches, it has the largest branch network in India. It also has over 190 offices in 36 other countries, including multiple locations in the US, Canada, UK and Nigeria. The Bank is actively involved since 1973 in non-profit activity called community services banking. All its branches and administrative offices throughout the country sponsor and participate in large number of welfare activities and social causes. State Bank of India ranked 155 in Forbes list of Global 2000 firms in 2014.

State Bank of Mysore
State Bank of Mysore (SBM) is an associate bank of State Bank of India, offering a range of financial products and services to its customers across the nation. Founded in 1913 under the patronage of Government of Mysore as Bank of Mysore Ltd, State Bank of Mysore became an associate of SBI in March 1960 with SBI holding 92.33% of shares. The State Bank of Mysore has its shares listed in various stock exchanges like Mumbai, Chennai and Bangalore. The bank has a network of approximately 1,040 branches spread over 20 states and a Union Territory. Its branch network consists of over 240 metro, approximately 225 urban, over 230 semi-urban and approximately 340 rural branches.

Standard Chartered Bank
The Standard Chartered Bank is one of the leading banks and has its branches spread all over the world. It provides excellent services and facilities to its customers. A majority of the profit earned by the bank comes from its business operations related to Wholesale Banking and Consumer Banking in Asia, Africa and Middle East countries. The Chartered Bank was established by James Wilson after Queen Victoria granted the Royal Charter in 1869. Along with this, the Standard Bank was established in 1862 by John Paterson. Both the banks worked separately to survive the First World War and its Depression. However, with the outbreak of the Second World War, the banks suffered heavy losses. They also faced a lot of problems when the Asian and African countries became independent as they had their branches there. However, in the year 1969, both the banks decided to merge.

State Bank of Hyderabad
State Bank of Hyderabad had been constituted as Hyderabad State Bank in August 1941, under Hyderabad State Bank Act, 1941. It served as the central bank of the erstwhile State of Hyderabad, covering present-day Telangana region of Andhra Pradesh, Hyderabad-Karnataka of Karnataka and Marathwada of Maharashtra. Their functions include managing the currency – Osmania Sikka and public debt, leaving aside the usual functions of commercial banking. Gunfoundry in Hyderabad saw the first branch of the bank on April 5, 1942. It was in 1953 that the Bank overtook the assets and liabilities of the Hyderabad Mercantile Bank Ltd. and started conducting Government and Treasury business as RBI’s agent. Then in 1956, the bank was taken over by RBI as its first subsidiary and the name got rechristened from Hyderabad State Bank to State Bank of Hyderabad.

Societe Generale
Societe Generale S.A. is a financial services company. The company is engaged in retail banking, corporate and investment banking, financial services, insurance, private banking and asset management. Societe Generale Global Solution Center (SG GSC), a 100% owned subsidiary of European banking major Societe Generale (SG), embarked on its Indian journey in 2000, and has displayed remarkable growth since. In 2002, the IT division expanded to include investment banking, and the back office operations were launched in 2004. In 2005, the infrastructure management services division was set up to manage infrastructure remotely for the Corporate and Investment Bank. The year 2007 saw the birth of the securities services division. In 2010, the operations division for CIB came about. The inception of the accounting and finance division for the investment banking operations followed in 2011. The company offers a range of advisory services and tailored financial solutions to individual clients, large corporate and institutional investors in approximately 70 countries.

State Bank of Travancore
State Bank of Travancore (SBT), one of the leading Indian banks, is a subsidiary of State Bank of India. It offers a wide array of banking products with a special focus in Kerala and its people, State Bank of Travancore is equipped with fully computerized Core Banking Solutions (CBS). SBT has an extensive network of 726 branches spread across the country. Among those, 584 branches are located in Kerala itself. It also has the largest network of ATM within its home state. SBT also offers various new-age services like Internet Banking, E-Commerce, E-Payments, Fee Payments and utility bill payments etc.

Syndicate Bank
Syndicate Bank India, established in 1925 in Udupi in Karnataka plays a vital role in providing financial assistance in the rural and semi urban areas as well as to the individuals. The first scheme of the bank was the Pigmy Deposit Scheme which at present is the Bank’s brand equity. In 1962, the Syndicate Bank India opened an all women branch in Bangalore. The Bank is well equipped to meet the challenges of the 21st century in the areas of information technology, knowledge and competition. The bank has received many awards and accolades like The Bank received National Award for excellence in lending to Micro enterprises from the Ministry of MSME, Govt. of India and many more.

Tamilnad Mercantile Bank
Tamilnad Mercantile Bank Limited (TMB) is a bank headquartered at Tuticorin, Tamil Nadu, India. TMB was founded in 1921 as the Nadar Bank, but changed its name to Tamilnad Mercantile Bank in November 1962 to widen its appeal beyond the Nadar community. The bank currently has 500 full branches throughout India, ten regional offices and eleven extension counters, six central processing centres, one service branch, four currency chests and 1052 automated teller machines (ATM). The bank has been expanding its footprint all over India. TMB was rated as the fastest growing Private Sector Bank continuously for the five years from 2010 to 2015. It was also rated as the Best Bank in the years 2013, 2014 and 2015, due to its robust growth. The bank has won the Lokmat BFSI Best Private Sector Bank 2014-15 award.

United Bank of India
United Bank of India (UBI) is one of the leading banks in India offering a host of banking products and services to its customers across the nation. Founded in December 1950 with the amalgamation of four small banks in Bengal viz. Hooghly Bank Ltd, Comilla Union Bank Ltd, Bengal Central Bank Ltd. and Comilla Banking Corporation Ltd, United Bank of India was nationalized along with 13 other banks on July 19, 1969. It continuously works toward emerging as one of the most dynamic, tech-savvy, progressive and customer-centric bank in India with pan-India presence. United Bank of India focuses on the business growth and profitability, while gives due importance on risk management in professional environment.

UCO Bank
UCO Bank, previously known as United Commercial Bank, is a leading commercial bank in India. Founded in Kolkata in 1943, UCO Bank is one of the oldest Indian banks as well. It was the eminent Indian industrialist Ghanshyam Das Birla who during the Quit India Movement of 1942 thought of establishing a commercial bank with Indian capital and management. United Commercial Bank was the outcome of that idea. It, along with 13 others, was nationalized on July 19, 1969. In 1985, its name was changed to UCO Bank. Currently, UCO Bank has around 2000 Service Unites spread all across the nation. It also has two overseas branches in Hong Kong and Singapore. UCO Bank has its presence in all segments of the economy including industry, agriculture, infrastructure sector, service sector and trade & commerce.

Union Bank of India 
In 1919, the Union Bank of India underwent a registration process as a limited company in Mumbai. Our father of the nation ‘Mahatma Gandhi’ had done the inauguration of this bank. Union Bank of India had started with a vision to turn into “the bank of first choice in our chosen area by building beneficial and lasting relationship with customers through a process of continuous improvement”. It is also included on the Forbes 2000 list. In 2007, Union Bank of India made its presence felt in the international arena by opening representative offices in the destinations of United Arab Emirates, Abu Dhabi, Shanghai and Peoples Republic of China. Besides, it chose Hong Kong as the destination to open its very first branch outside India.

Unit Trust of India
The Unit Trust of India largely deals with the mutual fund schemes and thereby popularly known as UTI Mutual Fund all over India. It is managed by UTI Asset Management Company Private Limited which was established on January 14, 2003. Unit Trust of India came into effect from February, 2003. The UTI Mutual Fund has gained fame for designing a set of schemes applicable to every class of citizens in India. It has a number of service centers all across the globe that comprise of 70 UTI financial centers and UTI International offices in Dubai, London, and Bahrain. The Bank of Baroda, Punjab National Bank, and Life Insurance Corporation of India are the major sponsors of UTI Mutual Fund.

Vijaya Bank
Vijaya Bank is one of the medium sized banks in India with substantial presence in most parts of the country. A. B. Shetty along with few other enterprising farmers from Mangalore, who established Vijaya Bank on October 23, 1931. The goal was to promote the habit of banking, savings and entrepreneurship among the farmers in Dakshina Kannada district of the state. It became a scheduled bank of India in 1958. Vijaya Bank is also one of the very few banks in India that has principal VISA International and Master Card International membership. On April 1980, Vijaya Bank became nationalized. Currently, this Indian bank has an extensive network of 2030 branches, 43 Extension Counters and more than 1865 ATMs across the nation. It also has a dedicated workforce of 15,000 employees.

YES Bank
YES Bank is a new age private sector bank in India. Founded by Rana Kapoor with a goal to set up a high quality, customer centric, service driven private sector Indian bank that would cater to the “Future Industries of India”. It is also the only bank that has been awarded Greenfield license by the Reserve Bank of India in the past 14 years. The bank offers a range of financial products and services to its clients, which include corporate and institutional banking, investment banking, business and transaction banking, financial markets, corporate finance, retail and wealth management etc.