Refinance India

Refinance is the method to replace or adjust the terms of existing debt obligation like loan, mortgage or credit note. While taking a credit, you take the loan or mortgage at a certain rate of interest. Through refinance, you can renegotiate the terms of your debt obligations like interest rates of your borrowed amount, length of agreement, amount of loan etc. There can be various types of refinance, the most common of which is surely the home mortgage.

Why Go for Refinance in India?

There can be various reasons why people go for refinancing. A loan or mortgage may last for long term and a lot can happen during the time span. One may pay off the large part of his/her finance agreement; equity in the asset (like home, car etc.) may also have built up. One can make the most of the equity stake by going for refinancing. Through refinance, one can borrow more money on the asset. For example, one may have several loans, which he/she can pay off with a new loan. The new loan would offer more favorable rate of interest comparing to the previous loans.

Advantages of Refinance

There can be several advantages of refinancing. People opt for refinance to reduce the rate of interest on the existing loan amount. One can also opt for refinance to extend the repayment time, reduce or alter risk, to pay a dividend, to bring up cash for investment consumption, or to reduce periodic payment obligations etc.

Refinance has the following advantages:

  • Refinance may result in bringing down the monthly payment amount by changing the rate of interest.
  • It may also change the maturity term of the loan.
  • Refinance can also improve the overall cash flow.
  • It reduces the risk on existing loan.
  • Refinancing can be used to pay off high-interest debt like credit card debt with a low-interest one.
  • Monthly recurring bills on the existing loan can also be paid off through refinance.


Types of Refinance in India

Refinance can be of the following types:

No-Closing Cost

In no-closing cost refinance, one get new mortgage loan after paying some upfront fees. This refinance type is suitable for you if the current market rate is lower than your existing interest rate at least by 1.5 percentage points. However, one needs to pay Yield Spread Premium (YSP) to the mortgage company for that.


Cash-out is suitable for home improvement as well as credit card and other debt consolidation. Here you can refinance larger amount than your existing mortgage. You can keep the cash difference with you.

IL FS Investmart

IL&FS Investmart (IIL) was established in 1997 by Infrastructure Leasing & Financial Services. IL&FS Investmart Ltd. is a leading organization in financial services in India. The company provides corporates and individuals with customized solutions in financial management.

The objective behind the setting up of the Company IL&FS Investmart was that it should become the leading brokerage house in India with expertise in technology which is web- based and also to have strength in distribution. The IL&FS Investmart Company has more than 200 outlets in 90 cities all over India.

The various divisions in the IL&FS Investmart are:

  • Division for Debt Broking
  • Division for Project Syndication
  • Division for Merchant Banking
  • Division for Retail Business
  • Division for Business in Institutional Equity

The debt division of the IL&FS Investmart Company has in the primary and secondary placement debt markets an active presence. This division deals in many services such as treasury bills, commercial papers, government securities, bonds, and debentures. The IL&FS Investmart's division for project syndications services includes structured syndication of debt, loan syndication for projects, and restructuring of debt. This division's business has grown due to the fact that it has built good relationships with financial institutions and banks.

The Company IL&FS Investmart's division for merchant banking offers services such as rights issues, open offers, offers for buy back, and IPOs management. The IL&FS Investmart Ltd.'s division for retail business offers services like derivatives trading, equity trading, IPO investments, commodity trading, and investments in mutual fund.

The IL&FS Investmart Ltd plans to expand by setting up branches overseas in London, Dubai, Singapore, New York, and Hong Kong.

IL&FS Investmart has come a long way since its establishment and the company's equity owners are some of the biggest organizations in the world.

Dewan Housing Finance Corp

Dewan Housing Finance Corp. (DHFL) was established in 1984 by Rajesh Kumar Wadhawan as a financial company for providing loans for the purpose of construction of houses.

The mission of the Dewan Housing Finance Corp. is to provide housing loans to consumers at reasonable terms and affordable rates. DHFL provides an easy access to housing loans for the middle and the lower income group of people in India. In the beginning, the company gave out the loans from its equity capital and the rate of return on equity was 8% when the interest rate was 18%.

Vision of the Dewan Housing Finance Corp:

To change the living standard of the Indian households by providing the access to the ownership of homes

Mission of the Dewan Housing Finance Corp:

  • To provide easy access to all the Indian for the ownership of a home
  • To understand the consumer's needs
  • Improve the credit policies on a continuous basis to provide the maximum number of people with the loans
  • To formulate methods to help the customers in difficult times
  • To have an extensive network by spreading it all over the country
  • To respond all of the queries and questions of the customers

Products offered by the Dewan Housing Finance Corp:

  • Mortgage Loan
  • Home Loan
  • Home Loans for NRI's
  • Home Improvement Loan
  • Home Extension Loan
  • Non Residential Property
  • Plot Loans
  • Reverse Mortgage
  • Home Loan Linked Insurance Plan
    • Sampoorna Rakshak
    • Amar Chhaya

The Management body of the Dewan Housing Finance Corp:

  • Shri Rakesh Kumar Wadhawan, Chairman
  • Shri Kapil Wadhawan, Vice Chairman & Managing Director
  • Shri Sarang Wadhawan, Director
  • Shri R.P. Khosla, Director
  • Shri Waryam Singh, Director
  • Shri R.S. Hugar, Director
  • Shri G.P. Kohli, Director
  • Shri Ashok Kumar Gupta, Director
  • Mr. Bikrum Sen CEO, DHFL
  • Mr. Rajeev Sathe COO, DHFL

Awards won by the Dewan Housing Finance Corp:

  • SRS Real Estate & Infrastructure Award for National Excellence in 2007
  • Award of Appreciation by the Maharashtra Chamber Of Housing Industry 2007
  • Best Customer Service HFI's Property at the 5th Housing And Real Estate Exhibition

SREI Infrastructure Finance

SREI Infrastructure Finance was established as a non-banking institution in 1989 at Kolkata. It is the first NBFI from India to get enlisted on the London Stock Exchange. SREI is the first one to have set up offices at Russia and Germany as well.

SREI has an extensive network of 37 offices. It has its name listed on the National Stock Exchange, Bombay Stock Exchange, and Calcutta Stock Exchange. SREI Infrastructure is among the largest markets for infrastructure equipment financing. The Stakeholders of SREI include; FMO-Netherlands, IFC-Washington, BIO-Belgium, KfW & DEG-Germany, and other European and American institutions.

The chief areas of SREI services are:

  • Roads
  • Power
  • Ports
  • Construction
  • Mining
  • Oil
  • Gas
  • Power

The institution has excelled in providing outstanding services and innovative solutions to its customers. Principal services of SREI Infrastructure finance are given below:

  • Infrastructure Projects Finance: SREI finances major projects such as bypasses and roads; independent power projects; port equipments; private berths and container handling jetties and more.
  • Infrastructure Equipment Finance: For equipments like excavators, compressors, compactors, heavy dumpers, dozers, cranes, mechanical and sensor pavers.
  • Renewable Energy Product Finance: Financing for street lighting, lantern lighting, water pumps, water heating systems, traffic booths, etc.

SREI Infrastructure Finance has been laying great emphasis on ethics such as integrity, mutual trust, employee empowerment, and high quality standards. It has a wide range of others services such as capital market, Forex, fixed deposit, asset management, and asset financing services.

SREI Infrastructure finance has excelled to a great extent in delivering its credentials in the infrastructure finance market and has definitely, laid a strong foundation for advancing towards its vision of becoming the most inspiring global infrastructure financial institution.

Geojit BNP Paribas Financial Services Limited

Geojit BNP Paribas Financial Services Limited, in collaboration with its associates, offers stock and share trading facilities in India. The company provides buying and selling of equity and derivatives, entailing index and stock predictions and alternatives. It also offers offline and online buying and selling facilities along with dial facilities. In addition, the firm also provides buying and selling subsidized services to offline patrons; finances for goods trading and credit against security of stocks.

A tie-up with Al Saud Group, Geojit BNP Paribas was initiated in 1987 in Kochi, India with a sole objective of offering buying and selling facilities to its NRI patrons. Geojit's other financial services incorporates allocation facilities for different fiscal tools such as life insurance schemes, FDs and mutual funds; banking services and commodity performance trading.

List of Financial Services offered by Geojit BNP Paribas


An associate of NSE and BSE, Geojit BNP Paribas, has a set-up of more than 500 sub-divisions in India as well as overseas. Through its branches, the group aim to deliver quality equity buying and selling facilities and providing computerized online trading facilities.

The retail outlets of the group spread across India satisfy individual requirements of the investors and assist them through easy and interesting SMS alerts, magazine research accounts, stock suggestions and economic indicators.

The brokerage format of Geojit BNP Paribas, which is valid to Ordinary Resident account only, makes online vending all the more interesting with 0.03% for day business and 0.30% for deliverance.

Mutual Funds

Geojit BNP Paribas offers around 700 mutual fund schemes which cater to individual need of the customers, offered by 33 diverse Asset Management firms. It updates its customers with exclusive information derived from various researches making buying and recovery of mutual funds easier.


Geojit BNP Paribas offers Home, life, medical, health, automobile and family insurance. Customers can purchase any of these schemes just by visiting its wide network of 500 offices dispersed all across the nation. It represents different insurance firms which guarantee the perfect investment solution as per individual requirements. Moreover, the firm's delegate assesses the schemes to guarantee that the customer is covered by the right policy.

Exchange Futures

The facility is available to all the Resident Indians to provide them an opportunity to branch out their investment portfolio dealing in Exchange Derivatives. It is the foremost stock adviser to provide online facilities in Equity.

Geojit's proficiency, effective management and competitive charges guarantees easier online exchange derivatives trading. With valuable supervision and with reasonable commissions, the clients are being able to trade competently.

Portfolio Management

Registered under SEBI Portfolio Manager (INP000003203), Geojit BNP Paribas offers flexible portfolio management facilities assisted by a professional team who administers investment assessments on the basis of buyer's requirements. The lowest investment limits for resident Indians is Rs 10 lakhs and Rs 25 lakhs for NRIs. The basic aim of the Portfolio Management team is to ensure long term capital expansion by locating underestimated stocks and analyzing the growth prospective of the short listed stocks.

It offers two alternatives under its PMS charges:

Alternative 1: 3% on annual basis levied @0.75% at the end of each fiscal quarter Alternative 2: 1% on annual basis levied @0.25% at the end of each fiscal quarter and performance cost

Company growth in FY 2009-10

In the FY 2009-10, Geojit BNP Paribas registered revenues worth INR 781.2 million against previous fiscal year's INR 446.2 million. This indicates that the firm reported a growth of 75% within a span of 12 months. After incurring a trivial INR 10 million loss in the FY 2008-09, the firm's earnings expanded to INR 123.9 million in FY 2009-10. From the previous INR 3.3 million, the company witnessed a massive increase in its Profit Before Tax (PAT) which stood at INR 204.7 million.

The combined earnings of the firm increased by 64% from INR 1.42 billion of the corresponding period of the previous FY to INR 2.35 billion in 2009-10. Combined BPT surged by 201% from INR 212.1 million to INR 637.5 million, while combined net income was registered at INR 387 million as compared to the previous FY's INR 109.6 million.

Corporate Office

Address: 5th Floor Finance Towers
Kochi – 682017
Phone: 91 48 4240 5501
Fax: 91 48 4240 5618

Top 10 Companies India

India, being a huge market as well as the hub of cheap and skilled labors in abundance, has become the home to a number of business houses that have successfully spread their operations beyond the territorial boundary of the country to become global entities. And with the global success of Indian companies, the brand - 'India Inc.' has become quite prominent these days. The success also gets reflected in the statistics as well. In spite of the great global recession, 47 Indian companies have found places in the Forbes Global 2000 list - 2009, which charts world's top 2000 public companies.

List of top 10 companies in India

Following listed are the top 10 companies in India:

:: Bharti Airtel
Telecommunications Services
:: ICICI Bank
:: Indian Oil Corporation
Oil & Gas Operations
:: Oil & Natural Gas
Oil & Gas Operations
:: Reliance Communications
Telecommunications Services
:: Reliance Industries
Oil & Gas Operations
:: State Bank of India
:: Steel Authority of India
:: Tata Steel

Bharti Airtel

Company Name
Bharti Airtel Limited
Year of Incorporation
1995 (as Bharti Tele-Ventures Ltd)
Financial Performance
(in $ billion)
(as on March 31, 2009)
Market Value
Key Person
Sunil Mittal (Chairman & CEO)

Latest News:

  • Bharti Airtel signed a landmark agreement with a few other operators for building and operating the Southeast Asia Japan Cable System (SJC) on December 10, 2009.
  • Bharti Airtel recently won the "Best Global Wholesale Carrier for 2009" at Telecoms World Awards Middle East.
  • The company was also rated as 'Best Enterprise Connectivity Provider' in India.


Company Name
ICICI Bank Limited
Year of Incorporation
1955 (as Industrial Credit and Investment Corporation of India)
Financial Performance
(in $ billion)
(as on March 31, 2009)
Market Value
In United Kingdom, Russia and Canada
Key Person
K.V. Kamath
Chanda D. Kochhar
Dy. MD
Sandeep Bakshi
Exe. Dir & CFO
N.S. Kannan
Exe. Dir
K. Ramkumar
Exe. Dir
Sonjoy Chatterjee

Latest News:

  • ICICI Bank registered a consolidated profit after tax of Rs. 1,145 crore for the quarter ended September 30, 2009.
  • ICICI Bank plans to raise Rs. 12.5 billion through bond sale.
  • ICICI Bank won the Asset Triple A Country Awards for Best Domestic Bank in India for three consecutive years.
  • ICICI Bank is expected to get the license for opening up branches in Singapore soon.

Indian Oil Corporation

Company Name
Indian Oil Corporation Limited
Year of Incorporation
Financial Performance
(in $ billion)
(as on March 31, 2009)
Market Value
Sri Lanka
Lanka IOC Plc (LIOC)
Indian Oil Mauritius Ltd. (IOML)
Indian Oil Middle-East FZE (IOME)
Key Person
Sarthak Behuria (Chairman)

Latest News:

  • In the 2nd quarter of the current financial year ended September 30, 2009, Indian Oil has earned a profit after tax of Rs. 284 crore.
  • It signed a MoU with a Florida-based company PA LLC on October 16, 2009 for collaborating on biodiesel production from micro-algae.
  • Indian Oil won 4 'Oil Industry Safety Directorate' (OISD) Awards.
  • It also won 'MoU Excellence Award' 2007-08 on October 15, 2009.


Company Name
NTPC Limited
Year of Incorporation
Financial Performance
(in $ billion)
(as on March 31, 2009)
Market Value
NTPC Electric Supply Company Ltd. (NESCL)
NTPC Vidyut Vyapar Nigam Ltd. (NVVN)
NTPC Hydro Ltd. (NHL)
Pipavav Power Development Co. Ltd. (PPDCL)
Kanti Bijlee Utpadan Nigam Limited
Bharatiya Rail Bijlee Company Limited (BRBCL)
Key Person
R.S. Sharma (Chairman & MD)

Latest News:

  • NTPC has recently signed Gas Sale Agreements (GSAs) with IOCL, GAIL and BPCL to supply 1.2 MTPA RLNG in New Delhi for 20 years period.
  • The organization is to set up a 2640 MW power station at Narsinghpur in M.P.
  • NTPC has signed a MoU to set up Polytechnic at Nainital.
  • NTPC - Tapovan Vishnugad is scheduled to start generation by 2012.
  • Joint Venture has been signed between NTPC and Coal India Ltd. for development of Brahmini and Chichro Patsimal coal mine with 50:50 equity participation.
  • PPA has been signed for NTPC - Korba stage II.
  • NTPC has won NCPEDP - Shell Helen Keller Award 2009.
  • It is ranked no. 1 IPP in Asia. It is also occupies the 2nd position in the list of Platts Top 250 Global Company Ranking Awards.
  • NTPC will be the official Power Partner for XIX Commonwealth Games 2010 to be organized in Delhi.


Oil and Natural Gas

Company Name
Oil and Natural Gas Corporation Limited
Year of Incorporation
Financial Performance
(in $ billion)
(as on March 31, 2009)
Market Value
ONGC Videsh Limited (OVL)
ONGC Nile Ganga BV (ONG BV)
Mangalore Refinery and Petrochemicals Limited (MRPL)
Key Person
R.S. Sharma (Chairman & MD)

Latest News:

  • OVL signed a MoU with M/s Sistema, a Russian industrial group, for hydrocarbon interests.
  • ONGC, along with Hinduja Group and Petronet LNG signed a strategic agreement with Iranian authorities on December 1, 2009 for sourcing LNG from Iran.
  • ONGC embraces 'Whistle Blower Policy' that promotes transparency and ethics in business.
  • ONGC Hazira plant has been awarded 'Commendation for Strong Commitment' at CII on November 26, 2009.


Reliance Communications

Company Name
Reliance Communications Limited
Year of Incorporation
Financial Performance
(in $ billion)
(as on March 31, 2009)
Market Value
Key Person
Anil Ambani (Chairman & MD)

Latest News:

  • Reliance Communications has tied up with a China Wireless to sell handsets.
  • RCOM partners with Microsoft and has also launched cloud computing on Microsoft platform.
  • It has sought nod to sell 10% in Reliance Infratel through IPO.
  • RCOM tied up with Gameloft to enhance its VAS portfolio.
  • RCOM cracked a $2.2 billion deal with Etisalat.
  • RCOM went into joint venture with Alcatel to get a hold of global network business.

Reliance Industries

Company Name
Reliance Industries Limited
Year of Incorporation
1966 as Reliance Commercial Corporation
Financial Performance
(in $ billion)
(as on March 31, 2009)
Market Value
Reliance Netherlands B.V.
Reliance Retail Limited
Reliance Jamnagar Infrastructure Limited
Reliance Haryana SEZ Limited
Reliance Industrial Investments and Holdings Limited
Reliance Ventures Limited
Reliance Strategic Investments Limited
Reliance Exploration and Production DMCC
Reliance Industries (Middle East) DMCC
Reliance Global Management Services Limited
Reliance Commercial Associates Limited
RIL (Australia) Pty Ltd
Recron (Malaysia) Sdn Bhd
Gulf African Petroleum Corporation (Mauritius)
GAPCO Tanzania Limited
GAPOil Tanzania Limited
GAPCO Kenya Limited
Transenergy Kenya Limited
GAPCO Uganda Limited
GAPCO Rwanda Sarl
GAPOil (Zanzibar) Limited
Reliance Fresh Limited
Retail Concepts and Services (India) Limited
Reliance Retail Insurance Broking Limited
Reliance Dairy Foods Limited
Reliance Retail Finance Limited
RESQ Limited
Reliancedigital Retail Limited
Reliance Financial Distribution and Advisory Services Limited
Reliance Hypermart Limited
Reliance Retail Travel & Forex Services Limited
Reliance Brands Limited
Reliance Wellness Limited
Reliance Footprint Limited
Reliance Integrated Agri Solutions Limited
Reliance Trends Limited
Reliance Lifestyle Holdings Limited
Reliance Universal Ventures Limited
Reliance Autozone Limited
Strategic Manpower Solutions Limited
Reliance Gems and Jewels Limited
Delight Proteins Limited
Reliance F&B Services Limited
Reliance Agri Products Distribution Limited
Reliance Leisures Limited
Reliance Retail Securities and Broking Company Limited
Reliance Home Store Limited
Reliance Trade Services Centre Limited
Reliance Food Processing Solutions Limited
Reliance Supply Chain Solutions Limited
Reliance Loyalty and Analylitics Limited
Reliance Digital Media Limited
Reliance-GrandOptical Private Limited
Reliance Vantage Retail Limited
Reliance People Serve Limited
Reliance Infrastructure Management Services Limited
Reliance International Exploration and Production, Inc
Reliance Petroinvestments Limited
Reliance Universal Commercial Limited
Reliance Global Commercial Limited
Wave Land Developers Limited
Reliance Cyprus Limited
Reliance Global Business B.V.
Reliance Global Energy Services Limited
Reliance Gas Corporation Limited
Reliance Global Energy Services (Singapore) Pte. Ltd
Reliance Polymers (India) Limited
Reliance Polyolefins Limited
Reliance Aromatics & Petrochemicals Private Limited
Reliance Energy and Project Development Private Limited
Reliance Chemicals Limited
Reliance Universal Enterprises Limited
Reliance One Enterprises Limited
Reliance Personal Electronics Limited
International Oil Trading Limited
Reliance Review Cinema Limited
Reliance Replay Gaming Limited
Reliance Nutritional Food Processors Limited
Reliance Commercial Land & Infrastructure Private Limited
Reliance Eminent Trading & Commercial Private Limited
Reliance Progressive Traders Private Limited
Reliance Prolific Traders Private Limited
Reliance Universal Traders Private Limited
Reliance Prolific Commercial Private Limited
Reliance Comtrade Private Limited
Reliance Ambit Trade Private Limited
Reliance Corporate IT Park Limited
Reliance Petro Marketing Private Limited
LPG Infrastructure (India) Private Limited
Reliance Infosolution Private Limited
Reliance Corporate Centre Limited
Reliance Convention and Exhibition Centre Limited
Key Person
Mukesh Ambani (Chairman & MD)

Latest News:

  • Reliance joins Ecopetrol to explore Deepwater Blocks in Colombia.
  • November 27, 2009 was the Record Date for allotment of Bonus Shares.
  • Recorded PBDIT of Rs. 7,845 crore for the quarter ended September 2009.
  • Recorded PBT of Rs. 4,951 crore for the quarter ended September 2009.
  • KG D6 Gas Production ramp up to 40 MMSCMD.
  • RIL adopted Capped Structure of Executive Compensation.
  • Reliance Petroleum Limited merged with Reliance Industries Limited.


State Bank of India

Company Name
State Bank of India
Year of Incorporation
1806 (as Bank of Calcutta)
Financial Performance
(in $ billion)
(as on March 31, 2009)
Market Value
State Bank of Indore
State Bank of Bikaner & Jaipur
State Bank of Hyderabad
State Bank of Mysore
State Bank of Patiala
State Bank of Travancore
Key Person
Om Prakash Bhatt (Chairman)

Latest News:

  • SBI tied up with Honda Siel for auto financing.
  • SBI Amendment Bill has been passed by cabinet.
  • SBI also offers a pact for retinal financing with Honda Siel.
  • SBI goes for a joint venture with Insurance Australia Group.
  • SBI is going to open 23 new overseas branches by March 2010.
  • SBI ties up with DBS for remittance service.
  • It also ties up with Singapore Bank for remittance service.
  • SBI opened its first gram panchayat banking outpost in Sikri, Orissa.


Steel Authority of India

Company Name
Steel Authority of India Limited
Year of Incorporation
Financial Performance
(in $ billion)
(as on March 31, 2009)
Market Value
Maharashtra Elektrosmelt Limited (MEL)
Key Person
S. K. Roongta (Chairman)

Latest News:

  • SAIL signed a MoU with NMDC for development of Arki Limestone Mine as 50:50 JV in November 2009.
  • SAIL also signed a Knowledge MoU with BITS-Pilani in November 2009.
  • SAIL is the Presenting Partner of Hero Honda FIH World Cup 2010.
  • SAIL also received the prestigious NCPEDP-Shell Helen Keller Award.

Tata Steel

Company Name
Tata Steel
Year of Incorporation
Financial Performance
(in $ billion)
(as on March 31, 2009)
Market Value
Tata Refractories Limited
Tata Pigments Limited
Kalimati Investment Company Limited
Tata Korf Engineering Services Limited
Tata Incorporated
TM International Logistics Limited
Jamshedpur Utilities and Services Company Limited
The Indian Steel and Wire Products Limited
Lanka Special Steels Limited
NatSteel Asia Pte. Limited
Hooghly Met Coke and Power Company Limited
Sila Eastern Limited
Bangla Steel and Mining Company Limited
Tata Steel Global Minerals Holdings
Key Person
Rata Tata
B Muthuraman

Latest News:

  • Tata Steel has signed a joint venture agreement with New Millennium Capital corp. and LabMag Limited Partnership in Canada on November 6, 2009 for development of Direct Shipment Ore (DSO) project.
  • Tata Steel inked a deal with MMTC for exploration and development of minerals.