India’s Leading BFSI & FinTech Companies 2024

[ METHODOLOGY ] India’s Leading BFSI and FinTech Companies 2024 80 PUBLICATION LISTINGS BFSI sector divisions for listings: For the purpose of the publication, ‘India’s Leading BFSI and FinTech Companies 2024’ , the BFSI sector has been divided into the following key segments – • Banking i.e., Scheduled Commercial Banks (SCBs) - based on the RBI enumeration of SCBs as of Mar 2023, small finance banks and payment banks as defined by the Reserve Bank of India (RBI). • Non-Banking Financial Corporations (NBFCs) including deposit taking and systematically important NBFCs as per RBI NBFCs classification dated September 2023. • Asset Management Companies as registered with the Association of Mutual Funds in India (AMFI). • Insurance companies registered with the Insurance Regulatory and Development Authority of India (IRDAI), in accordance with the Insurance Act, 1938. • Companies providing financial services falling under NIC Codes 64, 65 & 66 METHODOLOGY FinTech’s classification for listing: FinTechs in this publication have been broadly classified into – • Alternative Financing • Payments and Remittances • Digital Banking • Marketplaces • InsurTechs • Investment Techs; and • Others Selection criteria and process: • As a basic selection criterion for the BFSI sector, companies with a standalone total income of INR 25 cr. and net-worth greater than INR 10 cr. in FY23 have been listed in this publication. • For selection of FinTechs, Dun & Bradstreet has used information available in various secondary sources such as company websites, the Tracxn database, Dun & Bradstreet’s in-house database, and other reliable sources of information. • Dun & Bradstreet has shortlisted FinTechs based on a number of quantitative and qualitative Dun & Bradstreet