The New Way to success. advance. progress.
Who We Are
MAGFinserv Co.Ltd (MFCL) has served around 1 lac + customers till date through a network of 15+ branches with a complete bouquet of financial products that includes Business/Personal loan against Gold, Small Commercial Vehicle Loans. MFCL, established in a very challenging economic environment of 1995 has made excellent progress with a loan growth of over 60% CAGR with Assets under management.
India has 58 million micro and small enterprises with 240 million people employed. This segment contributes 45% of India’s GDP and has immense potential to provide employment to masses. However, only 4% of the financial needs of the sector are currently met by the banking sector with 90% of sector having no access to formal finance. India has only 15% Debt to GDP ratio in the non-corporate, non-government segment with immense room to grow to finance future growth.
The Government of India with its ‘financial inclusion’ initiatives has identified this huge problem and trying to address the same with various programs to create much needed jobs and boost the overall economy.
MFCL is a step in the same direction. MFCL’s constant endeavor has been to serve the underserved customer. MFCL has helped its micro & small business customers realize their dreams by providing them much needed capital to grow and expand their businesses. MFCL is committed to be an organization that focuses on quality, innovation and long lasting superior relationship with its customers.