Empower today. Enrich tomorrow.
At MAG Finserv, we believe finance is not just about money — it’s about dignity, opportunity and trust.
Finance with dignity, trust and purpose
We serve as a bridge between financial urgency and personal dignity — with gold loans that are transparent, accessible and responsible.
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 society at large.
Every business day, our 50+ branches open their doors to farmers, traders, salaried professionals, small businesses and families — each with a unique story. Helping them meet their moment of need is the heart of who we are.
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
Our mission and vision
Vision
To be India’s most trusted gold loan provider, empowering lives through financial development and sustainable community welfare.
Mission
We provide quick, secure and transparent gold loan services that enable individuals and small businesses to meet their financial needs — while enhancing livelihoods and supporting education, medical and business well-being through integrated social welfare programmes.
Goal
To keep our loans safe with a disciplined focus on asset quality, and build a strong, stable future for everyone — customers, employees and partners.
What drives us ahead
We care about people
We don’t just give loans. We understand your life and create solutions that help you move forward.
We value our team
Every employee is family to us. We help them grow, reward their hard work and build careers that last.
Customers come first
From farmers to business owners, every customer gets the same care, fairness and attention.
Strong partnerships
We work with banks and institutions that help us serve you better, including State Bank of India and Central Bank of India.
Social upliftment
Caring for the community is in our charter — with CSR initiatives alongside partners such as Janseva Diagnostics.
Sustainable profitability
Growth should be both meaningful and responsible. Staying financially strong keeps us stable for customers, employees and partners.
How we started
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2006
In 2000, Chairman Sir joined a cooperative society facing liquidity issues. He infused personal capital and restored stability with a strong recovery team. Realising 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.
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2010
Within five years of acquisition, 10 new branches were opened and AUM grew to INR 155 lakh from INR 28 lakh previously.
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2015
Long-term strategic planning of the promoter helped us reach an INR 4,080 lakh milestone in a short span, with the establishment of the 15th branch.
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2020
We extended our services beyond Maharashtra and opened 3 new branches in Karnataka.
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2025
Concrete growth in AUM to INR 400+ crore — thriving even through the pandemic.
The people behind the trust
Ananta Mohotkar
Mr. Ananta Mohotkar brings vast leadership, vision and governance capability to MAG Finserv. His 25+ year professional arc spans real estate development, oil and energy, hospitality and now fintech — adding a holistic business perspective to our growth. A BSc (Statistics) graduate, he is keenly dedicated to giving back to society through not-for-profit initiatives like Janseva Diagnostics.
Sunita Mohotkar
Mrs. Sunita brings a diverse and equitable perspective to the organisation. Her 20+ years in commerce offers a unique viewpoint on finances and fintech. As a leader, she actively focuses 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.
Ameya Mohotkar
Ameya Mohotkar serves as Director at MAG Finserv, leading marketing, HR and administration. A CA intermediate with articleship in auditing one of the top-10 NBFCs, he drives business expansion and key management hiring, and has actively revamped our marketing strategies. He is pursuing an Executive MBA from IIM Kozhikode and is treasurer at Janseva Diagnostics.
R. Harikumar
With an expansive 40+ year career as ex-General Manager and Chief Regional Head of CSB Bank, and DGM & Zonal Head at Bank of Maharashtra, Mr. Harikumar adds deep market insight, risk management expertise and strong networks to MAG Finserv.
Sunil Unde
An accomplished agricultural academic with 33+ years of teaching and leadership, Dr. Unde holds an M.Sc. (Agriculture) with distinction and a Ph.D. from D.B.S.K.K.V., Dapoli, along with an LL.B. As Principal of Phaltan Education Society’s Agri and Dairy Diploma Institutes, he has championed sustainable farming and modern teaching methods.
Ameya Tambekar
A Fellow Member of the Institute of Chartered Accountants of India with nearly two decades of consulting and assurance experience, Ameya has led engagements as Partner for upper-layer NBFCs and served on multiple public issues. At MAG, he plays a key role in strategic planning, risk management and fund-raising.
The team running the operations
C. S. Durga Walimbe
Company Secretary at MAG Finserv since September 2021. A member of the Institute of Company Secretaries of India with LLB, M. Com and B. Com qualifications, she manages compliance adherence, record keeping and shareholder relations.
Nishant Gajbhiye
With 15+ years of experience in Gold Loans and NBFCs, Nishant brings expertise in business growth, operations, risk, audit and compliance. He has held senior leadership roles at Manappuram Finance Ltd., including Assistant General Manager. At MAG Finserv Ltd., he drives sustainable growth, operational excellence and team development. He holds an MBA in Marketing.
Shrineel Goswami
With 15+ years of experience in Gold Loans and NBFCs, Shrineel brings expertise in business growth, operations, audit, risk management, recovery and team leadership. He has held senior leadership roles at Manappuram Finance and Money2Me Finance. At MAG Finserv, he focuses on operational excellence, risk and audit, and organizational development.
Khalip Shaikh
With the MAG Finserv family for 13 years and a 31-year professional career, Mr. Shaikh handles audits and compliance. He holds M. Com and GDC&A degrees.
Vinayak Sul
One of the longest associations at MAG Finserv — 20 years. Mr. Sul leads strategic sales, market knowledge and customer relationship management. He holds a Masters in Arts and an MBA, and is a certified human rights professional.
Nilesh Pandit
With a 15+ year association at MAG Finserv since April 2008, Mr. Pandit offers expert guidance in project management, cross-functional collaboration, customer advocacy and client retention. He holds BCOM and GDC&A qualifications.
Shaping our long-term direction
Prasad Shahane
A fintech industry veteran with nearly two decades spanning technology, financial research and startup leadership — from TCS BaNCS core banking and Kotak Life Insurance to macroeconomics at JM Financial, and leading growth at doorstep gold loan platform Rupeek. He brings multidisciplinary expertise to India’s rural credit ecosystem.
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