According to the bank website, "the IFC’s investment will support the Micro, small and medium enterprises (MSMEs) including Very Small Enterprises (VSEs) segment in India by helping MMFSL augment its lending program to these enterprises. MSMEs and VSEs includes financing towards agricultural sector and the proposed investment will be on lent primarily to finance a range of agricultural equipment, utility and commercial vehicles. At least 50% of the proceeds are expected to be earmarked towards women owned SMEs including VSEs, and the remaining for growth of these segments in the low-Income states (LIS) of India."
The Company offers a wide range of customized financial products to address its rural customer requirements. The Company’s business lines include vehicle and tractor loans, SME loans as well as fixed deposits products.
According to IFC, MMFSL was established in 1991 and is listed on both the National and Bombay Stock Exchanges. The Company is registered with the Reserve Bank of India (“RBI”) as a deposit taking NBFC and is headquartered in Mumbai. Originally established as a captive financier of vehicles for M&M, MMFSL has evolved into a diversified NBFC with rural focus.
Mahindra & Mahindra Financial Services Limited
Mr. Vishal Agarwal
Deputy General Manager-Treasury & Investor Relations
+91 22 66526000
Dr. G. M. Bhosale Marg (Worli), Mumbai - 400018, India
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/