Mahindra Finance Enters Co-Lending Pact with SBI to Boost Credit in Rural Areas

Mahindra Finance has signed a strategic co-lending agreement with the State Bank of India (SBI) to provide affordable credit solutions, especially in rural and semi-urban areas. Under the co-lending model, Mahindra Finance will originate and process loans as per the co-lending guidelines. SBI will provide funding of up to 80% of the loan amount, while […]

Mahindra Finance sells 49% of asset management arm to Manulife

Singapore-based investment management company Manulife has bought a 49% stake in the asset management arm of Mahindra Finance, marking yet another collaboration between an Indian financial company and a foreign asset management company for operations in India. The transaction has been structured as an investment of $34.9 million, or about Rs 2,000 cr, into the […]

XL Catlin to buy 20% of Mahindra Insurance Brokers

Mahindra Finance said global insurance major XL Group will take a 20% stake in its subsidiary Mahindra Insurance Brokers Ltd, including the 15% currently held by LeapFrog Financial Inclusion Fund. “XL Group will help support MIBL’s endeavours to increase insurance awareness and penetration in underpenetrated markets and across under-served customers in rural India,” the group […]

Mahindra Finance to raise Rs 2,000 cr via debentures

Non-banking financial services company Mahindra & Mahindra Financial Services said it plans to raise Rs 2,000 cr by issuing debt instruments to the public. The non-convertible debenture issue will open on July 10. The NCDs carry a rating of IND AAA from India Ratings and BWR AAA from Brickwork Ratings. The instruments will be offered […]