The 10 Most Trusted Non-Banking Financial Companies to Watch in 2019_compressed

Mahindra Prime Ltd. (KMPL) and also was a Director on
KMPL’s Board. He began his career with Glaxo India
Limited in the year 1990 and has also worked with Asian
Paints (I) Ltd.
The Legendary Founder
Nirmal Jain is the Founder and Chairman of IIFL
Group. He is a first generation entrepreneur, who is
credited with building one of the largest financial services
groups in India in just about two decades. He is a PGDM
(Post Graduate Diploma in Management) from IIM,
Ahmedabad, a rank holder Chartered Accountant, and a
Cost Accountant.
Nirmal Jain began his career in the year 1989 with
Hindustan Lever Limited (HUL), the Indian arm of
Unilever. After a few years, in the year 1995, he founded
his own equity research company, which is today known
as India Infoline or IIFL Group. The company's
pioneering work in equity research had set new standards.
Further, in the year 1999, he launched the website
www.indiainfoline.com where he made available his
research free on the Internet. Finally, in the year 2000, the
company forayed into the transaction space, with the
launch of the online trading portal. Under his leadership,
the company started diversifying the business model by
adding multiple business streams while remaining focused
on the core domain of financial services.
Under Nirmal Jain’s visionary direction, today IIFL is one
of the largest financial services firms in India backed by
marquee global investors like Fairfax Group, private
equity major General Atlantic, and the UK government’s
private equity fund - CDC Group.
Nirmal Jain has successfully steered IIFL to reach the
epitome of success and stands amongst India's leading
financial services groups.
NBFC is Important!
The profound team at IIFL has shared their views on
NBFC as follows. In FY18, NBFCs accounted for more
than a third of incremental credit. Broadly, PSU banks,
private, banks and NBFCs have an equal share in
incremental credit. More importantly, most NBFCs do not
fund large projects or industrial houses, so their relative
share in consumer and small business finance is even
greater. As per estimates of a rating agency, NBFCs