India’s Leading BFSI and FinTech Companies 2021

5 The BFSI sector plays the role of one of the most important pillars of the Indian economy, by boosting economic productivity, increasing efficiency among firms and ensuring sustained growth. For more than a decade, Dun & Bradstreet has been tracking the growth of the sector. We are delighted tobring to you the publication ‘India’s Leading BFSI and FinTech Companies 2021’ . The publication, now in its 13th edition, lists and profiles the leading companies in the Indian financial services ecosystem, which largely includes BFSI companies with standalone total income of ` 250 mn in FY20, including Banks, NBFCs, Broking Houses, Insurance Companies, Micro Finance Institutions, Housing Finance Companies, Asset Management Companies, and FIs/Financial Services. We have also listed a select set of Scheduled Urban Co-Operative Banks for the first time. Furthermore, we have also profiled some of the leading FinTech players in India. The publication profiles 462 BFSI companies, comprising 87 Banks (Scheduled Commercial Banks, Small Finance Banks and Payment Banks), 149 NBFCs, 20 FIs/Financial Services, 48 Housing Finance Companies, 30 Micro Finance Institutions, 51 Insurance companies (Life, General, Health and Re-Insurance), 29 Asset Management Companies and 48 Broking Houses. Some of the key highlights of the Indian BFSI and FinTech sectors that have been captured in the publication are as follows: - • During FY20, the credit growth of all scheduled commercial banks (SCBs) decelerated to 6.1% from 13.3% in FY19. • Past efforts for resolution of stressed assets continued to show results during FY20: after reaching a peak Executive Summary Naina R Acharya Associate Director - Data Operations, LEIG Dun & Bradstreet India of 11.2% in FY18, the Gross Non-Performing Assets (GNPA) contracted for the second year in a row to reach 8.2% by the end of FY20. • The RBI’s proactive and vigilant approach in terms of consolidating the NBFC sector continued in FY20; after a record number of cancellations in FY19, the number of NBFCs registered with the RBI further decreased to 9,618 as on 16 July 2020 from 9,856 as on 30 March 2019. • India’s life insurance sector recorded premium growth of 12.8% in FY20; despite this, the aggregate net profit of life insurers declined by 8.4% during the year. Moving forward, however, the outbreak of the pandemic towards the end of FY20 is likely to result in contraction in new business and renewals in FY21. • On the general insurance front, the sector incurred a collective loss of ` 14.9 bn in FY20; public sector companies reported net losses of ` 57 bn during the year due to massive underwriting losses. India’s Leading BFSI and FinTech Companies 2021 is an endeavour to showcase the critical role that BFSI companies and FinTechs can play in terms of taking the Indian financial services ecosystem to greater heights. Dun & Bradstreet will continue to track the performance and development of these sectors through future editions of this publication. Dun & Bradstreet