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COMPANY OVERVIEW
Empower Today, Enrich Tomorrow.
At MAG Finserv, we believe finance is not just about money—it’s about dignity, opportunity, and trust. Our brand is built on the idea that everyone deserves a fair chance to prosper, and sometimes, all it takes is unlocking the hidden value in their possessions—like gold.
We serve as a bridge between financial urgency and personal dignity, providing gold loans that are transparent, accessible, and responsible. But our purpose extends beyond transactions. We channel our success into uplifting the communities we serve—through initiatives in education, health, skill development, and women empowerment.
We see ourselves not merely as a gold loan provider, but as a partner in progress—for individuals, families, and the society at large.
Message from our Chairman
Opportunities over obstacles
“At MAG Finserv, we believe that no problem is too big. Life becomes easier when you stay positive and never give up.
In the early days, we faced many challenges. These challenges taught us about ourselves and our customers’ needs. The difficult times made us stronger. Today, we are stable and growing.
Over the years, we have made deep and meaningful bonds with many people. Together, we have grown. And together, we will keep growing.”
Mr. Ananta Mohotkar
Chairman & Managing Director
Mission / Vision
Our Mission And Vision
Vision
To be India’s most trusted gold loan provider, empowering lives through financial development and sustainable community welfare.
Mission
At MAG Finserv, we provide quick, secure and transparent gold loan services that enable individuals and small businesses to meet their financial needs. Through our integrated social welfare programs, we are committed to enhancing livelihoods, supporting education, medical and business well-being.
Goal
To keep our loans safe (0% NPA) and build a strong, stable future for everyone.
OUR BELIEFS
What drives us ahead
our history
How We Started
In 2000, Chairman Sir joined a cooperative society facing liquidity issues. He infused personal capital and restored stability with a strong recovery team. Realizing the business potential but limited by the cooperative model, he sought an NBFC. Unable to meet new capital norms, he acquired Bhosale Leasing & Finance, an existing firm founded in Phaltan.
2006
Within five years of acquisition 10 new branches are opened and AUM were raised to INR 155 lakhs from INR 28 lakhs previously.
2010
Long-term strategic planning of promoter helped us reach INR 4080 lakhs milestone in a short span with establishment of 15th branch.
2015
Recently, we have extended our services beyond the state of Maharashtra and opened 3 new branches in Karnataka.
2020
We experienced a concrete growth in our AUM to INR 275 Crore, thriving even after pandemic.
2024
Team
Leadership
Ananta Mohotkar
MD and Chairman
Ananta Mohotkar
MD and Chairman
As the Managing Director and Chairman of MAG Finserv, Mr. Ananta
Mohotkar brings a vast capability of leadership, vision, governance,
and business acumen to the table. His 25+ years of enriching
professional arc spanning across industries like real estate
development, oil and energy, hospitality and now fintech, adds a
holistic business perspective to the overall growth and success for
MAG Finserv.
He is a BSc graduate in Statistics and keenly adheres to his desire of
giving back to the society with not-for-profit initiatives like Janseva
Diagnostics.
Sunita Mohotkar
Director
Sunita Mohotkar
Director
Mrs. Sunita brings the diverse and equitable woman perspective to the organisation. Her 20+ years of background in commerce offers a unique female viewpoint to finances and fintech. As a leader, she actively focusses on diversity and inclusivity in the workplace and is a major driver of women empowerment at MAG Finserv.
She also serves as the Secretary of Janseva Diagnostics.
She also serves as the Secretary of Janseva Diagnostics.
Ameya Mohotkar
Director
Ameya Mohotkar
Director
Ameya Mohotkar has been serving as the Director at MAG Finserv since
the past 1 year. He undertakes a multitude of expertises for marketing,
HR and administration. As a CA intermediate with articleship experience
in auditing one of the top 10 NBFCs, Ameya contributes with business
expansion, managing critical human resources issues, HR management
and bringing key management members to the table.
He has actively helped in revamping the marketing department and creating marketing strategies for different target audiences. He is currently pursuing Executive MBA from IIM Kozhikode. He is also a treasurer at Janaseva Diagnostics.
He has actively helped in revamping the marketing department and creating marketing strategies for different target audiences. He is currently pursuing Executive MBA from IIM Kozhikode. He is also a treasurer at Janaseva Diagnostics.
R. Harikumar
Independent Director
R. Harikumar
Independent Director
Acting in the capacity of an independent director, Mr. R. Harikumar
comes with an expansive career graph of 40+ years having served as
ex-GM and Chief Regional Head of CSB, DGM & Zonal head for Bank
of Maharashtra.
His extensive knowledge, in-depth experience and expert skillset add
to MAG Finserv’s market insights, risk management and network and
connections.
Sunil Unde
Independent Director
Sunil Unde
Independent Director
Sunil Unde is an accomplished agricultural academic with over 33
years of teaching and leadership experience. He holds an M.Sc. in
Agriculture with distinction and a Ph.D. from D.B.S.K.K.V., Dapoli,
along with an LL.B. and specialized certifications in poultry, dairy, and
organic farming. He has served in key roles, including Assistant
Professor at the College of Agriculture, Dapoli, and Lecturer at
M.R.S.V., Phaltan, where he contributed nearly three decades to
advancing agricultural education.
Recognized for his expertise in poultry science, Dr. Unde was awarded prestigious fellowships from ICAR and Barnveld College, Netherlands, and earned top honors at the International Course on Poultry Husbandry and Feed Manufacturing in Indonesia. As Principal of Phaltan Education Society’s Agri and Dairy Diploma Institutes, he has championed sustainable farming practices, modern teaching methods, and capacity-building for future agri-professionals, leaving a lasting impact on the agricultural academic community
Recognized for his expertise in poultry science, Dr. Unde was awarded prestigious fellowships from ICAR and Barnveld College, Netherlands, and earned top honors at the International Course on Poultry Husbandry and Feed Manufacturing in Indonesia. As Principal of Phaltan Education Society’s Agri and Dairy Diploma Institutes, he has championed sustainable farming practices, modern teaching methods, and capacity-building for future agri-professionals, leaving a lasting impact on the agricultural academic community
Ameya Tambekar
Director
Ameya Tambekar
Director
Ameya Tambekar is a Fellow Member of the Institute of Chartered Accountants of India with nearly two decades of experience in consulting and assurance, serving clients both in India and overseas. He has led engagements as Partner for upper-layer NBFCs and provided assurance services for multiple public issues. At MAG, Ameya plays a key role in strategic planning, risk management, and fund-raising initiatives.
Team
Management
C. S. Durga Walimbe
Compliance Officer
C. S. Durga Walimbe
Compliance Officer
Durga is the Company Secretary at MAG Finserv, employed since
September 2021. She brings expertise in terms of compliance
adherence, record keeping and documentation, and managing
shareholder relations.
She is a member of the Institute of Company Secretaries of India with
LLB, M. Com and B. Com qualifications.
S. V. Mote
Business Head
S. V. Mote
Business Head
Mr. S.V. Mote has been serving as the Business Head at MAG Finserv since 2021. With over 15 years of extensive experience in the secured and unsecured lending sector, he has held key positions across leading financial institutions including ICICI Bank, Utkarsh Small Finance Bank, Spandana Microfinance, and Bhartiya Samruddhi Finance.
His expertise spans strategic leadership, sales, marketing, risk management, and financial operations, making him instrumental in driving growth and operational efficiency at MAG Finserv. Mr. Mote holds an Executive MBA in Finance from the Indian Institute of Business Management, Pune.
His expertise spans strategic leadership, sales, marketing, risk management, and financial operations, making him instrumental in driving growth and operational efficiency at MAG Finserv. Mr. Mote holds an Executive MBA in Finance from the Indian Institute of Business Management, Pune.
Khalip Shaikh
Account & Audit Manager
Khalip Shaikh
Account & Audit Manager
Mr. Shaikh is the Account & Audit Manager at MAG Finserv. He has
been with the MAG Finserv family since the last 13 years offering
financial expertise and handling the audits and compliance. He is an
experienced professional with overall 31 years of professional career.
He holds M. Com. And GDC&A degrees.
Vinayak Sul
GM, Sales & Marketing
Vinayak Sul
GM, Sales & Marketing
One of the longest associations running for 20 years with the MAG
Finserv family, Mr. Vinayak Sul holds the position of General Manager
—leading with strategic sales leadership, market knowledge,
customer relationship management.
He holds a Masters in Arts and an MBA degree, and is also a Certified
Human Rights and Generalise professional.
Nilesh Pandit
Vice President - Finance
Nilesh Pandit
Vice President - Finance
Mr. Nilesh Vilas Pandit has a long standing association with MAG Finserv of 15+ years, since April 2008. He operates as an Account Manager offering expert guidance in project Management, cross-functional collaboration, customer advocacy, client retention.
He has BCOM and GDC&A educational qualifications.
Team
Team Consultant
Prasad Shahane
Consultant
Prasad Shahane
Consultant
Prasad Shahane is a fintech industry veteran with nearly two decades
of experience spanning technology, financial research, and startup
leadership. His career reflects a unique progression—from building
core banking systems to driving strategic growth in high-impact
financial services.
He began his journey in technology, developing core banking solutions
on the TCS BaNCS platform and working with Kotak Life Insurance on
digital and operational systems. This strong technical foundation laid
the groundwork for his transition into financial research and strategy.
At JM Financial and Religare Captial, he served as a macroeconomist
and equity strategist.
Driven by a deep passion for expanding access to credit in India’s
underserved markets, Prasad moved into leadership roles at venturebacked fintech startups. Most notably, he led Growth and Lender
Partnerships at Rupeek, a Bengaluru-based doorstep gold loan
platform, where he played a central role in scaling the company 100x.
Today, Prasad brings together his multidisciplinary expertise in
technology, capital markets, and operational scaling to solve complex
problems in India’s rural credit ecosystem.