Margdarshak Financial Services Ltd (MFSL)
“Money Makes Money. When you have got little, it is often easy to get more. The great difficulty is to get that little…….Adam Smith”
At the same time we believe that the access to capital is not the complete solution to poverty. Driven by the objective of facilitating equitable access to capital resources, Margdarshak Financial Services Ltd (MFSL) is a closely held public limited NBFC-MFI incorporated in 2007. Since then MFSL has shown viable, sustainable and effective growth and expanded its field operations across length and breadth of North India. MFSL provides access to credit and pension products & services to most deprived and vulnerable communities in North India. Adapting industry best Information Technology and client centred practices MFSL has been engaged in enabling the rural and urban producers in accessing small amounts of capital through group based individual lending methodology. Led by an able set of board and management, the organisation has enabled over 70,000 families in establishing and diversifying business for achieving economic strengthening. MFSL is also a licensed aggregator for NPS-Lite Swavlamban scheme where-in the un-organised segments of the community are provided with pension products approved by PFRDA, India. Till date MFSL extended the benefits of NPS-Lite to over 30,000 individuals. Today MFSL is ranked as the 39th largest MFI in the country in terms of AUM effectively facilitating financial inclusion to its beneficiaries through a network of 48 dedicated and technology enabled branches, spread across the 3 North Indian states of Uttar Pradesh, Bihar and Haryana, covering most potential and virgin area. MFSL has been graded MFR4 by CRISIL in July 2013 reflecting the ability of the organization to conduct it’s operations in scalable and sustainable manner. MFSL has always believed in the idea of responsible financing and adheres to a strict code of conduct. Access Assist has awarded a score of 3.10 / 4.00 score in microfinance code of conduct assessment commissioned by SIDBI.
News
  • US NGO partners with MetLife to provide microfinance in UP
    GFI will help an Indian microfinance institution, Margdarshak, transform itself from an organisation focused on credit alone into a sustainable and scalable business correspondent (BC) of a commercial bank, report said.
  • CRISIL's microfinance institution (MFI)
    July 29, 2013 CRISIL's microfinance institution (MFI) Grading reflects CRISIL’s current opinion on the ability of an MFI to conduct its operations in a scalable and sustainable manner. In the case of NGO-MFIs and entities with multiple businesses, CRISIL’s MFI Gradings apply only to their microfinance programmes
  • Dia Vikas increases its stake in MFSL
    Dia Vikas Capital Pvt Ltd (a subsidiary of Opportunity International Australia) invested 21.5 mn in Margdarshak Financial Services ltd taking its stake to 49% in the company. Dia Vikas is a social investor to support the growth of Indian microfinance and to partner with socially-focused MFIs, including start-ups, to operate in underserved areas.
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