India’s Leading BFSI Companies 2020

III Dun & Bradstreet India is pleased to announce the 12th edition of its publication ‘India’s Leading BFSI Companies’. The publication is a compendium of the major companies from the various segments of the financial ecosystem namely - banking, non-banking financial institutions (NBFCs), financial institutions, broking, insurance and mutual fund industries. The publication highlights the financial performance of these companies as well as the recent trends and developments of their respective segments. The Indian Banking, Financial services and Insurance (BFSI) sector is going through a very dynamic phase. It has acquired the first mover advantage in terms of leveraging the power of technology and leading the way for digital transformation. For example, the transactions amount through National Electronic Funds Transfer (NEFT) grew by 41% CAGR between FY14 to FY19. Today, we are witnessing wide spread usage of cloud computing, artificial intelligence, machine learning, robotic automatic processing, big data and analysis and API open banking among others. Emerging technologies, which were once considered as business disrupters are now the new norm for getting the competitive edge. Further, collaboration with Fintech companies is also ensuring that financial inclusion is achieved on a larger scale at a much faster pace. The government is taking concrete steps to make the BFSI system more robust through regulatory and supervisory initiatives. The merger of public sector banks is expected to lead to higher scale of operations resulting in improved efficiency and lower costs. The proposed amendments to the Banking Regulation Act are expected to strengthen the cooperative banks. Similarly, the proposed amendments to the Factor Regulation Act 2011 will enable NBFCs to extend invoice financing to the micro, small and medium enterprises through Trade Receivables Discounting System (TReDS). With the help of technology and government initiatives, the BFSI sector is making great strides in terms of enhancing customer experience, risk management strategies, simplifying businesses processes and innovative payment systems to name a few. Needless to say, the BFSI sector is playing a critical role in driving the growth of the Indian economy and is considered as the gateway for reaching the US$ 5 trillion economy in the coming years. We are sure that the publication ‘India’s Leading BFSI Companies 2020’ will provide deeper insights into the sector and its contribution to the economy. We hope you will enjoy reading the publication and look forward to your feedback. Pankaj Khanna Head – Learning & Economic Insights Group Dun & Bradstreet India Foreword Dun & Bradstreet