Types of Financial Firms in India (2025): What Skills You Need to Work in Each

India’s financial landscape is vast and varied. As of 1 May 2025, there are 128 banks in the country’s commercial banking sector, inclusive of public, private, foreign, and niche banks.

There are also 57 insurers that are recognised by the Insurance Regulatory and Development Authority of India (IRDAI) as of April 1, 2025. This creates a healthy ecosystem that affects every part of the economy.

This variety brings up an obvious question for recent college graduates and working professionals: “Which types of financial firms are best for my skills and interests?”

This guide maps the main categories of financial firms in India, shows how each operates, and lists the core skills recruiters look for in 2025.

1. Banks

One of the most famous types of financial firms is banks. They accept deposits, issue loans, and assist people in making payments. In India, banking is also segregated into three main lines:

• Retail banking: savings accounts, personal loans, cards, day-to-day banking.
• Corporate banking: working‑capital finance, trade services, and project lending for firms.
• Investment banking: capital‑raising, mergers and acquisitions, and treasury solutions.

Key skills recruiters want in banks

• Advanced Excel modelling for loan pricing and capital forecasts.
• Credit analysis to judge borrower risk.
• Risk‑management frameworks (Basel III, ICAAP, stress testing).
• Customer‑service etiquette and regulatory KYC/AML knowledge.
• Fintech exposure—UPI APIs, real‑time payments, and core‑banking platforms.

How to break in? Course Options

Banking track	Entry‑level role	The IMS Proschool course that fits	Why it helps
Retail or SME lending	Credit Analyst	Financial Modelling	Builds the Excel and cash‑flow modelling depth hiring managers expect for underwriting decisions.
Corporate & investment banking	Analyst / Associate	Investment Banking Certificate	Covers pitch‑books, valuation, and deal structuring, which are skills core to M&A and capital‑raising desks.
Treasury & market risk	Treasury Analyst	CFA Program	Ethics, derivatives, and fixed‑income modules align with treasury and ALM mandates.
Digital banking & analytics	Data Analyst	Business Analytics Certification	Python, SQL, and dashboarding skills power customer segmentation and real‑time risk monitoring.

 

With the right blend of targeted upskilling and internship exposure, you can move from classroom projects straight into a bank’s credit, treasury, or digital‑product team and start building a long‑term career.

This will help you acquire the skills that most hiring managers in financial firms are looking for.

Also Read: Top Online Finance Courses With Certificates

2. Non-banking Financial Companies (NBFCs)

NBFCs, or non-banking financial companies, lend when banks don’t want to. NBFCS also caters to the needs of consumers for durable credit, auto loans, gold loans, and microfinance for households without having access to bank accounts.

Why work here? NBFCs innovate quicker, try out new credit algorithms, and go into towns in tier‑II and tier‑III that are not serviced by banks immediately.

Key skills for NBFC careers

• Models of underwriting that depend on alternative data– of utility bills, mobile use or even cash flow.
• Compliance with RBI’s NBFC Master Directions, fair‑lending codes, and micro‑finance caps.
• Portfolio‑monitoring dashboards to flag early‑warning signals.
• Negotiation and soft‑collection tactics that keep delinquency rates under control.

How to break in? Course Options

NBFC track	Entry‑level role	IMS Proschool course	Why it fits
Retail & micro‑finance lending	Underwriting Analyst	Financial Modelling	Teaches cash‑flow projections and stress testing crucial for small‑ticket loans.
Risk & portfolio analytics	Risk Analyst	Business Analytics Certification	Builds Python/SQL skills for delinquency prediction and dashboard creation.
Structured‑finance & securitisation	Credit Structuring Associate	Investment Banking Certificate	Covers deal modelling and documentation used in asset‑backed securities.

 

Mastering these functions positions you well for an operations, product‑management, or risk‑analytics seat within this dynamic types of financial firms segment.

3. Insurance Companies

Insurance is still the safety net of every business that is fully developed. There are two types of insurance companies in India: life insurers and general insurers. Life insurers offer death and savings plans, and general insurers offer health, auto, crop, and specialty covers. A third, fast‑growing pocket—insurtech—merges digital distribution with embedded products.

Key skills to land an insurance role

• Actuarial basics: mortality tables, loss triangles, and solvency calculations.
• Product‑design thinking to bundle riders and manage persistency.
• Claims processing technologies—AI‑driven fraud filters, health‑tech APIs, and loss‑adjustment tools.
• Consultative sales for agency and bancassurance channels.
• Statutory reporting under IRDAI guidelines and IFRS 17 transition.

How to break in? Course Options

Insurance track	Entry‑level role	IMS Proschool course	Why it fits
Product & actuarial support	Pricing Analyst	Financial Modelling	Provides Excel proficiency to build mortality and loss‑ratio models.
Investment of insurer funds	Investment Analyst	CFA® Programme	Equity, fixed‑income, and portfolio modules match statutory investment mandates.
Personal‑finance advisory	Insurance Planner	CFP® Certification	Equips you to align protection solutions with holistic financial plans.
Claims analytics	Claims Data Associate	Business Analytics Certification	Python/SQL stack uncovers fraud patterns and speeds up settlements.

 

Candidates who prove they can do both data analytics and teach customers will make out best at such types of financial firms.

Also Read: 5 Ways How Business Analytics is Revolutionizing Finance

4. Mutual Funds & Asset Management Companies

Mutual funds accept savings from people, invest them in both debt and stock, and provide diversification all in one go. Asset Management Companies (AMCs) run these schemes, manage risk, and comply with SEBI regulations.

Key skills for AMCs

• Portfolio analysis: beta, tracking error, duration, and attribution reports.
• Valuation methods—DCF, comparable multiples, yield curves—for stock and bond selection.
• Client‑reporting accuracy—daily NAVs, monthly factsheets, and statutory disclosures.
• Equity research writing that converts insights into investment calls.
• ESG screening and stewardship codes, increasingly demanded by DFIs and pension funds.

 

How to break in? Course Options

AMC track	Entry‑level role	IMS Proschool course	Why it fits
Equity & fixed‑income research	Research Analyst	CFA® Programme	Deep dive into valuation, ethics, and portfolio management.
Fund operations & reporting	Operations Analyst	Business Analytics Certification	Automates NAV checks and dashboard reporting.
Sales & investor relations	Relationship Executive	CFP® Certification	Enhances advisory credibility with retail and HNI clients.
Quantitative strategy	Quant Associate	Financial Modelling	Builds scenario and factor‑model templates for fund managers.

 

These skills can help you land jobs at these types of financial firms as researchers, traders, or people working with customers.

Also Read: Certified Financial Advisors vs. Regular Advisors

5. Brokerage & Wealth Advisory Firms

Brokerages trade stocks and derivatives, manage humdrum commodities, and wealth planners assist high-net-worth customers in planning out how to allocate their funds in the long run. Many firms combine both under one roof, offering research, PMS (Portfolio Management Services), and proprietary trading desks.

Key skills brokers and advisers expect

• Mastery of trading platforms like NSE NOW, BSE BOW, Algo engines.
• Market‑microstructure knowledge to manage slippage and liquidity risk.
• Investment research, which includes fundamental, technical, or quant, and clear communication of calls.
• Client‑pitching etiquette, especially for high‑net‑worth individuals (HNIs).
• Regulatory compliance: SEBI’s Research Analyst and Investment Adviser regulations.

How to break in? Course Options

Brokerage track	Entry‑level role	IMS Proschool course	Why it fits
Retail broking & dealing	Dealer / Trader	Financial Modelling	Strengthens market‑data analysis and price‑movement forecasts.
Institutional research	Equity Research Associate	CFA® Programme	Recognised benchmark for research credibility.
Wealth planning & advisory	Wealth Planner	CFP® Certification	Covers retirement, tax, and estate modules vital for HNIs.
Quant & algo trading	Quant Analyst	Business Analytics Certification	Provides Python and SQL for strategy back‑testing.

 

If you can show these skills, you’ll do well in these fast-paced types of financial firms.

Also Read: Which Is the Best CFA Prep Course in India?

6. Fintech Companies

Fintechs are tech companies that deal with money. Digital-first lenders, robo-advisors, payment apps, neobanks, and wealth-tech platforms are some examples. Their culture rewards agility, innovation, and data‑driven decision‑making.

Key skills fintech recruiters prioritise

• Data analytics and visualisation with Python, SQL, and BI tools.
• API design and app‑based workflows—think UPI, Aadhaar e‑KYC or GSTN integrations.
• Regulatory‑technology (RegTech) familiar with PCI‑DSS, ISO 27001, and RBI sandbox norms.
• Product management sprints and agile methodologies.
• Cybersecurity basics to protect customer data.

How to break in? Course Options

Fintech track	Entry‑level role	IMS Proschool course	Why it fits
Data science & credit scoring	Data Analyst	Business Analytics Certification	End‑to‑end data‑pipeline skills for real‑time lending decisions.
Fintech lending product	Product Associate	Financial Modelling	Builds profitability and cohort‑analysis models for new products.
Investment‑tech solutions	Investment Tech Analyst	CFA® Programme	Adds investment depth to robo‑advisory platform teams.
Fintech deal‑making	Strategy & M&A Analyst	Investment Banking Certificate	Equips you to evaluate targets and draft pitch‑decks in the fintech space.

 

Honing these abilities positions you at the frontier of this disruptive types of financial firms segment.

Also Read: Is an MBA Required for Investment Banking?

7. Why You Must Understand the Types of Financial Firms in India

Knowing the many types of financial firms is more than trivia; it is a strategic career filter.

• Find a job that matches your personality and goals — Those who enjoy personal relationships tend to do well in retail banking or wealth advice, whereas data junkies like the problems they’re working on in fintech analytics.

For example, a chatty graduate may thrive on HDFC Bank’s retail floor, but an analyst who thrives on coding may find their calling in Paytm’s data team.

• Spot growth areas for 2025 — Digital payments, micro-insurance, and ESG funds are growing faster than the GDP, so that means jobs will grow there.Like PhonePe’s massive UPI order book or Digit’s micro insurance boom, or SBI’s new ESG funds, that’s where hiring will come up.
• Set realistic expectations – A role in compliance demands regulatory depth; a trading seat prizes risk appetite and speed.For example, ICICI’s compliance desk values rule‑book mastery; Zerodha’s prop desk rewards lightning‑fast risk calls.

Finally, career research introduces you to top finance firms in India and highlights the specific credentials that impress their hiring panels.

8. Key Finance Courses Offered by IMS Proschool – Choose the Right Fit

• CFA (Chartered Financial Analyst) Course
  

  Markets, ethics, reports, portfolios, and more — this course covers it all. Asset‑management and hedge‑fund jobs often ask for CFA knowledge.
  Enrol in our course, and get step‑by‑step prep, helping you move closer to your buy‑side dream role.

• Financial Modelling Program
  

  Want to work in a hedge fund, investment bank, or fintech lender?
  Learn to build clear Excel models for shares, projects, and big deals.
  Enrol now and show hiring teams you can crunch the numbers they care about.

• CFP (Certified Financial Planner) Course
  

  Plan pensions, taxes, insurance, and wills for real people. Ideal if you want to guide families and small firms through life‑stage money choices. Start today with Proschool, and build trust as a personal‑finance pro.

• Investment Banking Course
  

  Learn how to make pitch decks, value companies, and set up buy‑outs. If you’re keen on investment banking, pair this course with our Financial Modeling Program for hands‑on skills IB teams thrive on.

• Business Analytics Certification
  

  Python, SQL, dashboards — turn raw data into simple answers. Perfect for fintech, risk, and product roles that live on numbers. Sign up to put data analysis at the centre of your finance career.

Not sure which firm type suits you? Browse our finance courses, from Financial Modelling to CFA, and find the best route for your goals.

Our Tip: Choose based on the type of firm that excites you most, and fits your career goals.

Each course aligns with the competency gap employers flag most often.

FAQs

Q 1. What are the different types of finance firms?

India hosts banks, NBFCs, insurers, mutual‑fund houses, brokerages, wealth advisers, and fintech start‑ups—each serving a different customer and regulatory need. Together, they keep money moving, protected and invested for every part of the economy.

Q 2. What are the 7 major types of financial institutions?

Globally, the classic list is commercial banks, investment banks, insurance companies, brokerage firms, mutual funds, credit unions (or co‑operative banks in India), and fintechs. These seven pillars handle everything from day‑to‑day payments to complex capital‑market deals.

Q 3. What is a finance firm?

A finance firm is any organisation that mobilises, intermediates, invests or protects money, through deposits, loans, insurance policies, investments or digital‑payment solutions. In short, if it helps people or businesses manage funds, it counts as a finance firm.

Understanding the landscape, equipping yourself with the right skills, and choosing an aligned professional course will transform curiosity into a rewarding career in India’s ever‑evolving financial sector

It offers growth, stability, mobility, and the satisfaction of shaping the economy’s future while serving diverse client needs across banking, insurance, asset management, fintech, wealth advisory, and lending, nationwide.