Dun & Bradstreet India’s Leading BFSI Companies 2017

Preface

Dun & Bradstreet India is proud to announce the launch of the ninth edition ‘ India’s Leading BFSI Companies ’, one of its premier publications. The publication provides useful information about the leading companies from the Indian BFSI (banking, financial services, and insurance) sector. Apart from highlighting the recent developments and key trends in the sector, it also features the major BFSI companies in the country. FY16 was a challenging year in terms of financial stability, especially for emerging market economies (EMEs). Most EMEs witnessed severe domestic imbalances as a result of economic stress, and a slowdown in credit growth. However, India outperformed its EME peers in terms of economic growth, with its GDP at constant prices (2011-12) having grown by 7.6% in FY16. The Indian BFSI sector had a mixed performance in FY16. On one hand, its banking sector was weighed down by rising NPAs. All scheduled commercial

banks in India saw a deceleration in the growth of both, credit as well as deposits as compared to FY15. On the other hand, however, the aggregate balance sheet of NBFCs grew at a healthy rate. The insurance sector, both the life as well as non-life segments, also witnessed a healthy growth in premiums. During the year, the mutual funds sector managed to breach the ` 12 trillion mark in terms of average assets under management. There were some major developments in FY16 that promise to shape the financial landscape in the years to come. One of them was the in-principle approval for the setting up of payments banks. The release of guidelines for on tap licensing of universal banks in the private sector will promote competition in the banking sector and also help enhance financial inclusion. The government’s push for digitisation has resulted in technology being leveraged for the delivery of financial services, and has also led to the emergence of new innovative services. For instance, the launch of the Unified Payments Interface promises to revolutionize retail payments. More recently, the government’s demonetisation drive will lead to an improvement in the liquidity levels of banks and will reduce the cost of funds. The government’s plans to improve financial inclusion are also showing good progress. These are only some of the developments that all augur well for the Indian BFSI sector. Dun & Bradstreet is extremely optimistic about the rapid growth of the Indian BFSI sector. We are confident that the publication ‘ India’s Leading BFSI Companies 2017 ’ will serve as a ready reckoner on the Indian BFSI sector. I hope you will enjoy reading ‘ India’s Leading BFSI Companies 2017 ’ and welcome your suggestions and feedback.

Kaushal Sampat President & Managing Director - India Dun & Bradstreet

I

Made with FlippingBook Learn more on our blog