India's Leading BFSI Companies 2016

India's Leading BFSI Companies 2016


 

Dun & Bradstreet India is pleased to present the 2016 edition of its premier publication – ‘India’s Leading BFSI Companies 2016’. This publication intends to provide useful and comprehensive information on the Indian BFSI (banking, financial services, and insurance) sector as well as highlights the recent developments and key trends shaping the sector. The key feature of the 2016 issue, gives a glimpse of the underlying opportunities in the financial sector as well as possible means for taking advantage of these opportunities.

The BFSI sector in India is diverse and contributes significantly to the growth of the economy. However, the sector still largely remains untapped with key segments of the sector such as banking which is largely underserved. The bank account penetration in India is still low as compared to other developing countries. The life insurance penetration in India stood at merely 3.3% of GDP as compared to around 7.3% of the US. Further, less than 5% of the Indian household’s savings are invested in share & debentures.

 

There lies immense opportunity to cover the huge untapped market of the BFSI sector. E-commerce which has changed the way business is conducted across the world and is expected to be one of the drivers for the growth of this sector. The ease and convenience to buying a financial product online has revolutionised the manner in which products are sold across the world. A plethora of financial products are being sold and delivered using the electronic platform to millions of customer in India. The increasing adoption of e-commerce in the near future will bring about a big change in the way the industry conducts its business and engages with its customers. The companies in the banking and financial services are also increasingly investing in e-commerce to lower the cost of transaction and bring higher efficiency and greater reach.

Various regulatory bodies are initiating a host of measures for the growth of e-commerce in the financial sector. The Reserve Bank of India is considering ways to link the e-commerce platform to the banking sector, similar to linking mobile phone operators to the banking system through the ‘soon-to-be launched payment banks. The IRDA has formed two committees to explore and suggest ways to promote e-commerce in the insurance sector in order to increase penetration and bring about financial inclusion. With the positive impact of technology on the business models and emerging growth opportunities, the future of the BFSI sector looks buoyant and moving towards robust growth.

The publication provides an in-depth analysis of the BFSI sector in India and showcases profiles of leading players in the banking, NBFC, mutual fund, broking and insurance sectors. We, at Dun & Bradstreet are extremely optimistic about the progress of this sector and will continue to track it and aim to facilitate informed business decisions. I hope you will enjoy reading ‘India’s Leading BFSI Companies 2016’ and look forward to your suggestions.

Kaushal Sampat
President & Managing Director - India
Dun & Bradstreet