Mahindra & Mahindra Financial Services Limited (MMFSL) is an Indian rural non-banking financial company headquartered in Mumbai.[4] It is amongst the top tractor financers in India, with 1000+ offices across the country.[5]
Mahindra Finance started on 1 January 1991, as Maxi Motors Financial Services Limited.[6] They received the certificate of commencement of business on 19 February 1991. On 3 November 1992, Mahindra Finance changed their name to Mahindra & Mahindra Financial Services Limited.[7] Mahindra Finance is registered with the Reserve Bank of India as an asset finance, deposit taking NBFC.
In 1993 it commenced financing M&M utility vehicles and in 1995 started its first branch outside Mumbai, in Jaipur. The company began financing non-M&M vehicles in 2002 and got into the business of financing commercial vehicles and construction equipment in 2009. In 2011 they had a joint venture with Rabobank subsidiary for tractor financing in the US and consolidated the product portfolio by introducing small and medium enterprises (SME) financing.