A Brief Intro to India Infoline Finance Limited : Industry Insight

India Infoline Finance Limited

Contents

  • What is a NBFC?
  • Difference between NBFC and banks
  • About IIFL holdings limited
  • Corporate structure
  • IIFL group of companies
  • About India Infoline finance limited
  • Key executives
  • Services Offered
  • Performance data

What is a NBFC?

finance IIFL AmproviseA Non Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 of India, engaged in the business of loans and advances, acquisition of shares, stock, bonds hire-purchase, insurance business or chit business but does not include any institution whose principal business includes agriculture, industrial activity or the sale, purchase or construction of immovable property.

Types of NBFC in India

  • Asset Finance Company (AFC)
  • Investment Company (IC)
  • Loan Company (LC)
  • Infrastructure Finance Company (IFC)
  • Infrastructure Debt Fund: Non- Banking Financial Company (IDF-NBFC)
  • Gold Loan NBFCs in India
  • Residuary Non-Banking Companies (RNBCs)

Difference between NBFCS & Banks

NBFCs perform functions similar to that of banks but there are a few differences –

  • An NBFC cannot accept demand deposits
  • An NBFC is not a part of the payment and settlement system and as such
  • An NBFC cannot issue cheques drawn on itself
  • Deposit insurance facility of the Deposit Insurance and Credit Guarantee Corporation is not available for NBFC depositors, unlike banks
  • List of NBFC not accepting deposits as on 28th feb 2017 www.RBI.org.in
  • RBI has made it mandatory for NBFCs to have a minimum investment grade credit rating to be able to accept deposits.
  • NBFCs can get themselves rated by any of the six rating agencies, namely, CRISIL, CARE, ICRA, FITCH Ratings India, Brickwork Ratings India and SMERA.
  • If an NBFC defaults, you can approach the Company Law Board or Consumer Forum or file a civil suit in a court of law to recover the deposits and further approach to RBI

About IIFL Holdings Limited.

  • IIFL (formerly known as India Infoline Limited), is an Indian diversified financial services company headquartered in Mumbai
  • Headquarters: Mumbai
  • Founded by: Nirmal Jain on Oct 17, 1995
  • Launched a trading portal 5paisa.com in 2000
  • Tie up with ICICI Prudential in 2001 and becoming India’s first corporate agent for insurance
  • IIFL Holdings Limited listed on stock exchanges as
  • NSE: IIFL BSE: 532636
  • Website: IndiaInfoline.com
  • IIFL Holdings with a consolidated net-worth of about Rs. 30 billion as on FY 31st March 2016
  • Apart from India they are present in 8 other countries London, New York, Geneva, Hong Kong, Dubai, Singapore, Srilanka and Mauritius.

Corporate Structure

IIFL Holdings Ltd is divided into 11 companies.

  1. India Infoline Ltd.
  2. India Infoline Finance Limited: India Infoline housing Finance Limited is under this company.
  3. India Infoline Insurance brokers Ltd.
  4. India Infoline Commodities Ltd.
  5. IIFL Assets management company & IIFL MF
  6. IIFL Private Wealth management Ltd.
  7. IIFL (Asia) Pvt. Ltd.
  8. IIFL Inc. (US) investment Advisors Ltd.
  9. IIFL (UK)
  10. IIFL Multi National Company.
  11. 5Paisa Capital Ltd.

About IIFL NBFC

  • The company was formerly known as India Infoline Investment Services Private Limited and changed its name to India Infoline Finance Limited in Nov 2011.
  • Converted into a Public Limited Company in 2007
  • Incorporated: 2004
  • Subsidiary of IIFL Holdings Limited.
  • Address: 12A-10, 13th floor, Parinee Crescenzo, C-38 and C-39, G Block, Behind MCA, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra 400051
  • Phone: 1800 3000 1155
  • Moblie apps on both IOS and Android for: Stock Trading, Loans, Mutual Funds
  • Website: IIFLFinance.com
  • Branches: 1000+
  • No of employees: 7500
  • Key Executives for IIFL
  • Ms. Rajashree Nambiar – Chief Executive Officer, Executive Director, Member of Stakeholders Relationship Committee, Member of Risk Management Committee and Member of Asset Liability Management Committee
  • Mr. Milind Gandhi – Chief Financial Officer and Financial Controller
  • Ms. Jayati Chakraborty – Head of Operations
  • Mr. Nirmal Bhanwarlal Jain – Whole Time Director, Member of Stakeholders Relationship Committee, Member of Asset Liability Management Committee, Member of Risk Management Committee and Member of Corporate Social Responsibility Committee
  • Mr. Dolphie Barboza – Business Head of Commercial Vehicle Finance

Services offered

  • Home loans (New home loan, Home improvement loan, Swaraj Home Loan, Home loan balance transfer, NRI home loan),
  • Personal Loan
  • SME loan
  • Gold Loan
  • Commercial vehicle loan
  • Loan against properties
  • Wealth management

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