BFSI stands for Banking, Financial Services and Insurance and BFSI Companies indicate the companies that offer a wide range of such services/products. Banking service offered by BFSI companies might include cards, investment, corporation, private, retail, core banking and related activities and financial services might include mutual funds, payment gateways, stock-broking, etc…while insurance services cover both life and non-life insurance services.

Indian BFSI Industry:

Banking and financial system of a nation plays a crucial role in the promotion of long-term growth of the economy of the nation. During the period 2001-2008, the sector’s contribution towards the economy of the nation has grown considerably. Contribution towards the growth of this sector is being made by the top players and the names of some of the top players in the BFSI industry in India are given below:

Top 5 BFSI Companies in India:

• Geojit BNP Paribas Financial Services Limited

• Edelweiss Capital Limited

• Dhanalakshmi Bank Limited

• Dewan Housing Finance Corporation Limited

• Development Credit Bank Limited

To know more details about these BFSI companies read on the content given below:

Geojit BNP Paribas Financial Services Limited:

Geojit BNP Paribas Financial Services Limited is operating from the city of Kochi, where in their corporate office is located. They have more than 20 years of experience in the Indian capital market  and they offer a wide range of financial, banking and insurance solutions like loans against shares, margin funding, property services, portfolio management services, IPOs, general & life insurance, mutual funds, custody account, currency futures, derivatives and equities.

Edelweiss Capital Limited:

Edelweiss Capital Limited is a group company of the Edelweiss Corporate and the company is operating from the city of Mumbai. The business of this company is broadly divided into financing, asset management, brokerage services and investment banking services. The proven history and research driven approach of the company has enabled it to develop strong relationships across individual, institutional and corporate clients. The retail broking business and mutual fund business along with planned acquisition of Anagram Capital has enabled the company to meet large retail client segment successfully.

Dhanalakshmi Bank Limited:

Dhanalakshmi Bank Limited came into existence in the year 1927 with the objective of offering different types of banking services. Right from its inception, the bank has been introducing wide range of banking products and slowly they got into financial service sector as well. In the year 2002, the bank has entered into insurance business as well by entering into tie-ups with MetLife and United India Insurance.

Dewan Housing Finance Corporation Limited:

Dewan Housing Finance Corporation Limited is shortly called as DHFL began its journey in the year 1984 with the objective of offering housing finance to lower and middle income grouped people to make their dream of own house come true. Over more than 25 years of service, the company stands strong as one of the largest housing finance companies in the private sector. At present, in addition to housing finance, they are also offering other services like fixed deposit schemes and insurance services as well.

Development Credit Bank Limited:

Development Credit Bank Limited shortly called as DCB Bank and the bank has been operating in the nation right from 1930s. The company has earned the status of one among the best BFSI companies since they are offering a wide range of services under categories like personal banking, cards, corporates and SME Banking. Their personal banking services include loans, NRI Services, investment services and accounts, while their corporate services include trade finance, corporate banking and treasury services. Under the category of cards, they offer DCB debit cards, DCB travel cards, DCB Pay less cards and VISA card.

In addition to these top companies, there are also other top players like HDFC Bank Limited, IFFCO Tokio General Insurance Company Limited, Bharatia AXA Life Insurance Company Limited, etc… are also operating in the BFSI Sector in India.