Finance companies are the organizations involved in financing any consumer or business. They specialize in supplying credits to purchase goods in credits. They grant loans or lend money to the people for different projects or ventures. A financial services company can be described as the one that offers loans to individuals, institutions, and businesses.
The financial structure of any nation has a great impact on the economy with financial services companies playing a major role in robust economic growth. There has to a direct connection between the intermediary institutions and the regular institutions while measuring the financial system of a company.
The basic difference of a finance company and a bank is that the bank accepts deposits from publishing but it does not accept deposits from the public. The common feature between a financial company and a bank is that it acts as a lending entity by extending credit, where it may or may not draw funding from banks or resources like a money market.
This kind of company may hold specialization in dealing with finance with a wide assortment of installment plan sales. It extends credits for multiple purposes like commercial uses, consumer purchase for financing houses and production projects and more.
The importance of finance companies in the nation is huge. The Indian finance industry comprises numerous players who help in boosting the economic growth of India by offering financial assistance to various projects. Several finance companies are operating in India and offering incredible financial services depending on the needs of the consumers.
Here is the list of top 10 financial services companies in India; they are a pillar of the nation offering excellent financial services.