We were incorporated on January 1, 1991 as Maxi Motors Financial Services Limited and received certificate of commencement of business on February 19, 1991. The name was changed to Mahindra & Mahindra Financial Services Limited on November 3, 1992. We are registered with the RBI as an NBFC with effect from September 4, 1998 under Section 45IA of the Reserve Bank of India Act 1934. Key Events in our business history Calendar Year Event 1993 Commenced financing of M&M UVs 1995 First branch opened outside Mumbai, at Jaipur 1996 Commenced financing M&M dealers for purchase of tractors 1998 Launched pilot project for retail tractor financing 1999 Commenced tractor retail financing in rural and semi-urban areas 2001 Total Assets crossed Rs. 10 billion 2002 Commenced financing of non-M&M vehicles Received Tier II debt from International Finance Corporation Our first securitisation transaction of Rs. 434.8 million 2004 Long term credit rating of AA /Stable Branch opened in Port Blair Listing of non convertible debentures on BSE on the wholesale debt market segment Securitisation of tractor assets of Rs. 256.6 million 2005 Tie-up with HPCL MIBL became our wholly owned subsidiary Commenced distribution of third party mutual funds 2006 -Following a successful IPO, subscribed nearly 27 times more, Mahindra & Mahindra Financial Services Ltd (MMFSL) priced its shares at Rs 200 each. The original price band for the issue of two crore shares of Rs 10 each, for cash at a premium decided through the book-built process, had been fixed at Rs 170-200 a share. -Mahindra & Mahindra Financial Services Limited has informed that Mr. Narayan Shankar has ceased to be the Company Secretary of the company with effect from October 26,2006. Ms. Angarika Baviskar would continue to hold the post of Deputy Company Secretary and Compliance Officer of the company. -Tied up with Maruti Udyog Limited. -Reached a new benchmark with 400 branches. 2007 -Commenced Home Loans Business through our subsidiary Mahindra Rural Housing Finance Limited. 2008 -Received 12.5% equity participation from NHB for our Subsidiary Mahindra Rural Housing Finance Ltd. -Preferential allotement of shares to Standard Chartered Private Equity Ltd. & TPG Axon Private Equity Ltd. 2009 -Commenced Fixed Deposits Program. 2010 - More than 2 lakh new customer contracts in a financial year for the first time. - Branch network crosses 550 branches. 2011 - Maiden QIP Issue. - Joint Venture with Rabobank subsidiary for tractor financing in USA. 2012 - Mahindra Finance wins the inaugural Porter Prize in the category of Creating Distinctive Value. - Mahindra Finance are first runners up at CNBC TV18 Best Bank & Financial Institution awards. - Ranked 9th in the prestigious Dun & Bradstreet's India's Top 500 Companies 2011(released on 1st June, 2012), based on the total income in the FIs/ NBFCs/ Financial Services Sector. 2013 -Company has splits its Face value of Shares from Rs 10 to Rs 2 -M&M Fin.Services Woori Financials & Mahindra Finance sign MOU for Joint Venture -Winner of the prestigious Golden Peacock Award for Excellence in Corporate Governance. 2014 -MIBL declared 'Broker of the Year' at 18th Asia Insurance -India Ratings and Brickworks Ratings upgraded Company's long term debt rating to "AAA". CARE Ratings also assigned "AAA" rating to Company's long term debt. 2015 -Mahindra Finance wins the Golden Peacock National Training Award 2016 -M&M Fin.Services SEBI grants licence to Mahindra Mutual Fund -M&M Fin.Services Ranked 5th in Financial Services Sector in India 2017 - Significant Achievement in HR Excellence - Mahindra Finance has been included in the Sustainability Yearbook 2017 - Mahindra Finance is Certified as a Great Workplace. - Mahindra Finance bagged the Inspectrum-Rise through Diversity Award - SKOCH Order of Merit for Corporate Social Responsibility - SKOCH Order of Merit for Good Health and Well Being - SKOCH Order of Merit for Focused Talent Pool - Mahindra Finance Included in "The Sustainability Yearbook 2017 - MMFSL enters INDIA BOOK OF RECORDS by conducting the Largest Learning Session in a Day at Multiple Location - Commended with Significant Achievement in HR Excellence at the 7th Confederation of Indian Industry (CII) HR Excellence Award 2016. - Conscious Capitalist of the Year - Mahindra Finance is listed in Dow Jones Sustainability Index (DJSI) for the 4th year in a Row. - Mahindra Finance has been bestowed with the national award for excellence in its CSR Initiatives - Participation in Resource Mobilization for humanitarian cause - Winners in the category of organization with a turnover of Rs. 501 Crores and above for Innovation in Recruitments - Mahindra Finance was honored as Best Overall Excellence in CSR in the organizational Category . - Mahindra Finance Ranked 68th among 791 employers surveyed in India - Mahindra Finance Ranked 5th in Financial Services Sector in India - Mahindra Finance Ranked 3rd in Workplace Transformation Case Study - Mahindra Finance wins the Golden Peacock National Training Award 2018 -Honoured with the Indian Developement Foundation CSR Award. -Conferred with the Equal Opportunity Employer Award during the 4th National Conference on Disability by Sarthak Educational Trust. 2019 -Recognised as the 8th Great Place to Work by Economic times. -Won the Marketing Award for the Best Customer Engagement Activity. 2020 -Ranked 25th in India's Best Companies to work by the economic times & great place to work. -Ranked 6th in the list of best large workplace in Asia by Great Place to Work. 2021 -Launced Quiklyz a vehicle leasing & subscription business. -Ranked 54th in India's Best Companies to Work for 2021 by Great Place to Work Institute. 2022 -Mahindra & Mahindra Financial Services Ltd. today announced a partnership with Credgenics, a leading provider of SaaS (Software As A Service) based collections and debt resolution technology platform. -Mahindra Financial Services Limited focused on rural and semi-urban sector, today announced the launch of a Special Deposit Scheme. -Mahindra & Mahindra Financial Services Ltd. today announced that it will offer the widest range of electric vehicles (EVs) for leasing and subscription to potential customers. -Mahindra Finance was honoured with a Certificate of Recognition for excellence by the Institute of Company Secretaries of India (ICSI) during the 7th ICSI CSR Excellence Awards, 2022. -Mahindra Finance won the CSR Times Award 2022 Gold for the CSR Initiative Swabhiman in the area of skill development at the 9th National CSR Times Awards held at New Delhi -Mahindra Finance was honoured with a special commendation for it's flagship CSR Program `Swabhiman' at the CSR Journal Excellence Awards, 2022 2023 -Mahindra Finance acquires 20% stake in Mahindra Insurance Brokers for Rs 206 cr. -MIBL has become a wholly-owned subsidiary of the company. 2024 -The Company Informed ATA AIG Enters into a Strategic Partnership with Mahindra Finance to Broaden Distribution of Non-Life Insurance Products.