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Mumbai, June 22, 2020: Three companies from the Mahindra & Mahindra Financial Services sector, a leading provider of diversified financial solutions in rural and semi-urban India, have been recognized among India’s Best Companies to Work2020 by Great Place to Work®️ Institute (GPTW).
Mahindra Insurance Brokers Ltd. ranked 10th, Mahindra Rural Housing Finance Ltd. ranked 19th and Mahindra Finance ranked 25th in the largest workplace study in India, representing the voice of more than 2.1 million employees across 21+ industries. According to GPTW, the companies earned this recognition for creating a Great Place to Work for alland excelling on the 5 dimensions of building a High-Trust, High-Performance CultureTM – Credibility, Respect, Fairness, Pride and Camaraderie.
Ramesh Iyer, VC & MD, Mahindra Finance and President, Mahindra Financial Services Sector said, “We are extremely delighted that three of our companies feature among India’s Best Workplaces 2020. We have always laid great emphasis on creating a high trust and high performance culture. Engaging with employees, respecting them, encouraging collaboration and inspiring them to go the extra mile to contribute to business, is what makes us a great place to work.”
Mahindra Finance was also ranked the 6th Best Large Workplace in Asia 2020 by Great Place to Work® Institute earlier this year.
Great Place to Work®️ Institute, is the ‘Global Authority’ for creating, sustaining and identifying High-Trust, High-Performance CultureTM. Considered the ‘Gold Standard’ in Workplace Culture Assessment, Great Place to Work®️ identifies Best Workplaces solely on the basis of Employee Feedback and quality of People Practices in an organization. No jury or individual can influence the results of the assessment.
About Mahindra & Mahindra Financial Services Limited
Mahindra & Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 6.8 Million customers and has an AUM of over USD 10 Billion. The Company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits. The Company has over 1,300 MMFSL offices and reaches out to customers spread over 3,70,000 villages and 7,000 towns across the country.
Mahindra Finance is the only Financial Institution from India to be listed on the Dow Jones Sustainability Index in the Emerging Market Category 2019. Mahindra Finance has been ranked 25th on the list of India’s Best Companies to work for 2020 and ranked 6th on the list of Best Large Workplaces in Asia 2020 by Great Place to Work® Institute.
The Company's Insurance Broking subsidiary, Mahindra Insurance Brokers Limited (MIBL), is a licensed Composite Broker providing Direct and Reinsurance broking services.
Mahindra Rural Housing Finance Limited (MRHFL) a subsidiary of Mahindra Finance provides loans for purchase, renovation, construction of houses to individuals in the rural and semi-urban areas of the country.
Mahindra Asset Management Company Private Limited (MAMCPL) acts as the Investment Manager of Mahindra Mutual Fund. On 29th April 2020 Mahindra Finance divested 49% stake in its wholly-owned subsidiary, MAMCPL to Manulife Investment Management Singapore Pte Ltd to form a 51:49 joint venture.
The Company has a Joint Venture in the US, Mahindra Finance USA LLC, in partnership with De Lage Landen, a subsidiary of Rabo Bank, for financing Mahindra vehicle’s in the US.
The Company has recently formed a Joint Venture in Sri Lanka, by acquiring a 38.2% stake in Ideal Finance Ltd. This JV will focus on providing a diversified suite of financial services to the Sri Lankan market.