Financial Services in India

The assets under management growth is expected to double to US$ 1,207 billion (Rs. 100 trillion) by 2030 implying a CAGR of 14% from FY24 to FY30.

Advantage India

Growing
Demand

*The AUM of the Indian MF Industry has grown from Rs. 9.16 trillion (US$ 110.63 billion) in 2014, to Rs. 64.97 trillion (US$ 780.70 billion) in July 2024, growing ~6x in a span of 10 years.

*Investment corpus in Indian insurance sector might rise to US$ 1 trillion by 2025.

*With >2,100 fintechs operating currently, India is positioned to become one of the largest digital markets with rapid expansion of mobile and internet.

Innovation

*India benefits from a large cross-utilization of channels to expand reach of financial services.

*Emerging digital gold investment options.

*In the Union Budget 2022-23 India announced plans for a Central Bank Digital Currency (CBDC) which will be known as Digital Rupee.

Policy
Support

*FDI sectoral cap in the insurance sector has been revised from 49% to 74% under the automatic route. The Union Budget 2025 also announced the further increase of FDI sectoral cap for the insurance sector from 74% to 100%. This enhanced limit will be available for those companies, which invest the entire premium in India.

*International Financial Services Centres Authority (Banking) Regulations, 2020, are expected to drive and facilitate the constituent operations in the IFSC and help the sector reach its potential.

Growing
Penetration

*Credit, insurance and investment penetration is rising in rural areas.

*HNWI participation is growing in the wealth management segment.

*Lower mutual fund penetration of 5-6% reflects latent growth opportunities.

Snapshot Showcase Infographics Reports

Last updated: Apr, 2025

Muthoot Finance

Muthoot Finance Limited is a gold financing company. The company is a non-banking financial company (NBFC) that provides loans (financing) against the collateral of gold jewellery. The company operates through two segments: financing and power generation. The company provides personal and business loans (secured by gold jewellery) primarily to individuals having no access to formal credit for a reasonable tenure to meet their short-term working capital requirements. The company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking, home loans, personal loans, collection services, microfinance, windmill power generation, white label automated teller machine, instant money transfer services and domestic money transfer services. The company has a network of more than 6,100+ branches all over India. In Sri Lanka, the company offers corporate loans, mortgage loans, factoring, business loans and short-term loans among others.

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Bajaj Finserv Ltd

Bajaj Finserv Limited is a holding company for various financial services businesses. The company is engaged in the business of promoting financial services, such as finance, insurance, and wealth management, through its investment in subsidiaries and Joint Ventures (JVs). The company is also engaged in the business of generating power through wind turbines, a renewable source of energy. Its segments include insurance, windmill, retail financing, investments and others. The company is also involved in wind-farm activities. The company focuses on six categories: consumer lending, Small and Medium Enterprise (SME) lending, commercial lending, rural lending, fixed deposits, and value-added services. It serves various customers in the financial services space by providing solutions for asset acquisition through financing, asset protection through general insurance, family protection and income protection in the form of life and health insurance, and retirement and savings solutions.

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ICICI Prudential Life Insurance Company

ICICI Prudential Life Insurance Company Limited is a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited. The company provides life insurance, pensions and health insurance to individuals and groups. It conducts business in participating, non-participating and unit-linked lines of businesses. Its segments include par life, par pension, non-par, annuity non-par, health, linked life, linked pension, linked health, and linked group. It offers term plans such as ICICI Pru iProtect Smart; Unit-Linked Insurance plans (ULIPs) such as ICICI Pru Wealth Builder II and ICICI Pru Elite Life II; child education insurance plans such as ICICI Prudential SmartKid with Smart Life; retirement plans such as ICICI Pru Easy Retirement; traditional savings/money back plans such as ICICI Pru Cash Advantage and ICICI Pru Savings Suraksha; and Health insurance. It offers products on retail, mortgage, and group platforms.

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