mahindra finance
TRANSCRIPT
INTRODUCTION OF MAHINDRA FINANCE
Empowering potential. Transforming lives.
Two decades ago, Mahindra and Mahindra Financial Services Limited (MMFSL) commenced its
journey in the rural non-banking finance industry. And with that was born a vision to transform
rural and semi-urban India into a self-reliant, flourishing landscape. Since then, we have come a
long way, empowering millions of ambitious individuals with personalised finance for a wide
range of vehicles, home development requirements and many other diverse endeavours – all to
help them live their dreams and Rise in life.
At Mahindra Finance, we are guided by a firm belief in people, their dreams, and their potential
to achieve those dreams. Hence, our socially inclusive business model facilitates loans to
customers based not on their current financial status, but their future earning capacity. This
philosophy has instilled a sense of confidence in the minds of rural and semi-urban India – a
confidence that allows them to believe that no dream is too big. Today, as one of the leading
non-banking finance companies, we are proud to have touched over 2.5 million such lives.
During the course of our journey, apart from emerging as the top tractor financer in India, we
have constantly strived towards developing skill sets of the local population. Which is why, we
provide employment to over 13,000 people in over 650 branches across India. This not only
ensures equal growth opportunity for all, but also enables us to serve our customers better
through local understanding and expertise.
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So be it a humble farmer or a budding entrepreneur – we are committed to empower
every individual with resources to help their dreams see the light of day.
The Mahindra Group focuses on enabling people to rise through solutions that power mobility,
drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.2 billion multinational group based in Mumbai, India, Mahindra employs more than
180,000 people in over 100 countries. Mahindra operates in the key industries that drive
economic growth, enjoying a leadership position in tractors, utility vehicles, after-
market, information technology and vacation ownership. In addition, Mahindra enjoys a strong
presence in the agribusiness, aerospace, components, consulting services, defence,
energy, financial services, industrial equipment, logistics, real estate, retail, steel,commercial
vehicles and two wheeler industries.
In 2012, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most
powerful listed companies in the world. In 2013, the Mahindra Group received the Financial
Times 'Boldness in Business' Award in the 'Emerging Markets' category.
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VISION AND MISSION
Our Vision
“To be a leading financial services provider in semi-urban and rural India.”
Our Mission
“To transform rural lives and drive positive change in the communities.”
Our Vision:
"To be India's no.1 Insurance Broker in revenue by 2015."
Strategic Partnership
During the year under review, Mahindra Insurance Brokers Limited (MIBL) has entered into
Definitive Agreements with Inclusion Resources Private Limited (IRPL), a subsidiary of
LeapFrog Inclusion Fund (LFIF), incorporated in Singapore and Mahindra & Mahindra Financial
Services Limited (MMFSL), its parent company to expand the Company's services to consumers
in rural and semi-urban areas of India, by bringing in IRPL's international knowledge and
experience, especially in using low cost technology solutions to provide insurance in mass
markets. In addition, given IRPL's expertise and association in reinsurance globally, IRPL would
help the Company to connect with various global reinsurers to assist in the Company's
reinsurance broking business.
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HISTORY
The history of Mahindra Finance has been one of continuous ascent where our effort to empower
our customers has been a constant element. A strong set of values, an evolved lineage and a
group of highly motivated individuals is what we started with.
What followed was a series of events that helped us grow from strength to strength. And two
decades that witnessed many dreams across the nation see the light of day. Come, walk with us
through the journey of time and take a glimpse of how Mahindra Finance grew with all those
who believed in it.
We were incorporated on January 1, 1991 as Maxi Motors Financial Services Limited and
received certificate of commencement of business on February 19, 1991. The name was changed
to Mahindra & Mahindra Financial Services Limited on November 3, 1992. We are registered
with the RBI as an NBFC with effect from September 4, 1998 under Section 45IA of the Reserve
Bank of India Act 1934.
Key Events in our business history
Calendar Year Event
1993 Commenced financing of M&M UVs 1995 First branch opened outside Mumbai, at Jaipur
1996 Commenced financing M&M dealers for purchase of tractors 1998 Launched pilot project
for retail tractor financing 1999 Commenced tractor retail financing in rural and semi-urban
areas 2001 Total Assets crossed Rs. 10 billion 2002 Commenced financing of non-M&M
vehicles Received Tier II debt from International Finance Corporation Our first securitisation
transaction of Rs. 434.8 million 2004 Long term credit rating of AA+/Stable Branch opened in
Port Blair Listing of non convertible debentures on BSE on the wholesale debt market segment
Securitisation of tractor assets of Rs. 256.6 million 2005 Tie-up with HPCL MIBL became our
wholly owned subsidiary Commenced distribution of third party mutual funds
2006
Following a successful IPO, subscribed nearly 27 times more, Mahindra & Mahindra Financial
Services Ltd (MMFSL) priced its shares at Rs 200 each. The original price band for the issue of
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two crore shares of Rs 10 each, for cash at a premium decided through the book-built
process, had been fixed at Rs 170-200 a share.
-Mahindra & Mahindra Financial Services Limited has informed that Mr. Narayan Shankar has
ceased to be the Company Secretary of the company with effect from October 26,2006. Ms.
Angarika Baviskar would continue to hold the post of Deputy Company Secretary and
Compliance Officer of the company.
-Tied up with Maruti Udyog Limited. -Reached a new benchmark with 400 branches.
2007 -Commenced Home Loans Business through our subsidiary Mahindra Rural Housing
Finance Limited.
2008 -Received 12.5% equity participation from NHB for our Subsidiary Mahindra Rural
Housing Finance Ltd. -Preferential allotement of shares to Standard Chartered Private Equity
Ltd. & TPG Axon Private Equity Ltd.
2009 Commenced Fixed Deposits Program.
2010
More than 2 lakh new customer contracts in a financial year for the first time.
Branch network crosses 550 branches.
2011
Maiden QIP Issue. Joint Venture with Rabobank subsidiary for tractor financing in USA.
2012
Mahindra Finance wins the inaugural Porter Prize in the category of Creating Distinctive Value.
Mahindra Finance are first runners up at CNBC TV18 Best Bank & Financial Institution awards.
Ranked 9th in the prestigious Dun & Bradstreet's India's Top 500 Companies 2011(released on
1st June, 2012), based on the total income in the FIs/ NBFCs/ Financial Services Sector.
2013 Company has splits its Face value of Shares from Rs 10 to Rs 2
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BOARD OF DIRECTORS
Mahindra Finance is led by an ensemble of highly motivated visionaries who bring years of
experience and expertise to the table. They guide, inspire and propel us to push the boundaries
and move towards our collective vision of empowering every life with resources to put their
ambitions on the map.
The board consists of eight noted directors vested with the charge of general supervision,
direction and management of the operations of our company. The primary responsibilities of the
Board of Directors include:
Overseeing high standards of corporate governance and compliance with various laws
Overseeing our financial management and approving various lines of business
Shaping our policies and procedures
Monitoring our performance and evolving the growth strategy
Setting up counter-party and other prudential risk management limits
Mr. Bharat N. Doshi Mr.UdayY.Phadke
Director Chairman
Dr. Pawan Kumar Goenka Mr.RameshIyer
Managing Director Director
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At Mahindra Finance, our vision has always been to make a positive difference to as
many lives as possible. It is what inspires us to expand our family and deliver more value to our
customers through superior services and expertise. Here's a bit about two such successful
ventures – Mahindra Insurance Brokers Ltd. and Mahindra Rural Housing Finance Ltd., whom
we are proud to have as a part of our ever-growing family.
We live in a day and age where staying protected against the uncertainties of tomorrow is of
paramount importance. Understanding this very requirement, Mahindra Insurance Brokers Ltd.
(MIBL), our subsidiary, provides 360o insurance solutions, tailor-made for the diverse needs and
risk profiles of our varied consumer base. While providing direct insurance broking for the retail
customer base of around 1.3 million and catering to a large number of corporate customers, the
company also offers a range of plans for the Life as well as Non-life insurance segments.
MIBL is committed to provide value to its customers by understanding their insurance needs and
risk profile in a highly detailed and systematic manner. This helps in chalking out more
innovative, cost-effective and customised insurance solutions. And its uncompromising
adherence to the highest standards of quality is evident from the fact that it is one of the few
insurance broking companies in India to have been awarded the prestigious ISO 9001:2008
Certification for Quality Management Systems.
MIBL was granted a Direct Broker's Licence by the Insurance Regulatory and Development
Authority (IRDA) in May 2004, enabling it to undertake direct insurance broking in Life and
Non-life businesses. In addition, MIBL has empanelled itself with various public and private
insurance companies to fulfil its promise of delivering customised solutions to customers. In
September 2011, MIBL was granted a Composite Broker licence by the IRDA, thus foraying into
the Reinsurance Broking business along with Direct Broking. As a Total Insurance Risk
Solutions provider, MIBL also plays an integral role in the Risk Management portfolio of
customers.
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OBJECTIVE
PRIMARY OBJECTIVES
To know about Promotional policies of Mahindra Finance.
SECONDARY OBJECTIVES
The main objectives of this project is to find, what steps Mahindra Finance is
adapting to be market leader and to differentiate itself from its competitors.
The basic objective of this project is as mentioned above to find ways so that
Mahindra Finance remain market leader by considering all the needs &wants and
fulfilling their demand.
To find out the Strategy of Mahindra Finance to remain market leader in future.
It should do something to give after sales service and collect feedback from the
customers.
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SERVICES OF MAHINDRA FINANCE
1. VEHICLE LOANS
a. Tractor Loans
“I have availed of four new tractor loans and my experience has always been positive.”
I have been a Mahindra Finance customer for the last six years and I am very happy with their
service. I first went to them in 2004 when I wanted to buy a Mahindra tractor...
- Mr. S. Subhash, Nagercoil
*Images are for reference only. Actual customer images may vary.
Features & Benefits
Eligibility & Documentation
Repayment based on cash flows i.e. monthly/quarterly and half yearly (asset becomes
loan free in five years)
Quick disbursal within two days after loan approval
Available for a wide range of tractors
Stress-free loan sanction without mortgaging of land
Easy and flexible documentation
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.b. UTILITY VEHICLES LOANS
“My life has changed completely.”
I have a small business dealing in cattle feed. Before I approached Mahindra Finance, I used to
purchase cattle feed from farmers and transport it via a three wheeler to a cattle camp, where I
would sell the entire stock. It would earn me around Rs 7,000 – Rs 8,000/- at that time...
- Mr. Salemamad Ibrahim Node, Bhuj
*Images are for reference only. Actual customer images may vary.
“I thank Mahindra Finance for helping me achieve success and stability in life.”
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My job is to pick up and drop kids to school in my vehicle. Earlier, I owned an auto, but
it proved insufficient in handling the increasing number of students.At that point of time, I began
hunting for used cars and luckily...
- Mr. Hitendra Bhagwati Lal Shah, Vadodara
*Images are for reference only. Actual customer images may vary.
Features & Benefits
Eligibility & Documentation
Flexible repayment options ranging from 12 to 60 months
Fast loan disbursement within 48 hours
Competitive rates of interest
Hassle-free documentation
Pay online and through direct debit
Enjoy a repayment period of up to 5 years
c. CAR LOAN
“Mahindra Finance fueled my dream of driving my own car.”
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I live in the slum area of Surat and have my own scrap business. I have been associated
with Mahindra Finance since the last nine years. In 2004, when I needed a loan I approached
many banks and financiers but no one was ready to provide me a loan due to lack of
documents....
-
“Now I take my family out in my own car, thanks to Mahindra Finance.”
My wife and kids always used to complain to me that other relatives have a car, and we don’t.
However, being an ordinary petrol attendant with a modest income, I had to admit that buying a
car was next to impossible
- Mr. Ram Prajapat, Sangane
*Images are for reference only. Actual customer images may vary.
Features & Benefits
Eligibility & Documentation
Minimum documentation to ensure a hassle-free process
Quick car loan approval
Up to 100% ex-showroom funding
Multiple repayment options
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d. THREE WHEELER LOAN
“Today, I've regained my confidence and happy about doing well in my motherland.”
I used to be a taxi driver in Mumbai for six years. But a dire need of money forced me to leave
my motherland and migrate to Saudi Arabia to earn a living...
- Mr. S.K. Rabbani, Hyderabad
*Images are for reference only. Actual customer images may vary.
“From repairing vehicles to owning one!”
I started working at the age of 10 at a garage and grew up working there as a mechanic. Then one
day, a Bajaj 3-Wheeler came in for repair. I decided to buy it. So I arranged for the money from
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my relatives and the savings I already had. I used the vehicle for around six to seven
years...
- Mr. Mohammad Basheer, Hyderabad
*Images are for reference only. Actual customer images may vary.
Features & Benefits
Eligibility & Documentation
We cover the widest range of three-wheelers in India
Flexible repayment options, ranging from 12 to 36 months
Loan sanctioned within 48 hours
Enjoy hassle-free documentation
Multiple plans customised to match your needs
Competitive rates of interest
E. COMMERCIAL VEHICLE LOAN
“From an employee to an entrepreneur - it has been a magical journey!”
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I was with a construction company for eight years. In 2004, I left my job and started
subcontracting with a few friends. Three years later, I decided to expand. So I took up a
commercial vehicle loan from...
- Mr. Surya Narayan, Hyderabad
*Images are for reference only. Actual customer images may vary.
“After I got a loan, my business just took off and grew by five times! Needless to say,
Mahindra Finance will always be my first choice.”
I’ve been into the dairy business for the last 15 years. I earn around Rs. 30,000 every month and
at present, have a loan for two Mahindra...
- Mr. Ratnabhai Bharvad, Vododara
*Images are for reference only. Actual customer images may vary.
Features & Benefits
Eligibility & Documentation
The rate of interest for the loan depends on various factors like customer profiles and location.
A commercial vehicle loan can be taken for a variety of commercial vehicles, which may be used
at different locations. The loan is applicable to customers with diverse profiles.
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For new CVs
Fast processing
Greater flexibility
Maximum tenure of 60 months
Competitive rates
Customised financing
For old CVs
Finance against vehicles that are up to 15 years old
Maximum tenure of up to 3 years
Maximum finance flexibility
F. TWO WHEELER LOAN
“Mahindra Finance offers exactly what you need.”
I choose Mahindra Finance because I was attracted by the interest rates they were providing. I
have compared Mahindra Finance to other finance companies, and found the staff completely
professional...
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Read More
- Ms. Rekha Arjun Wagh, Nashik
*Images are for reference only. Actual customer images may vary.
Features & Benefits
Eligibility & Documentation
Quick and efficient loan approval
Special 0.5% rebate for women customers
Maximum funding of up to 80% on LTV
Flexible repayment option, ranging from 12 to 36 months
Loan insurance available
F. USED VEHICLE LOAN
“Mahindra Finance has been a source of great support.”
Mahindra Finance is not just a financer, but has emerged as a support system for me. I have
refinanced three vehicles with the help of Mahindra Finance and expanded my business as well.
Today, I am considered as an opinion leader amongst my friends...
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Read More
- Mr. Jaswant Singh, Lucknow
*Images are for reference only. Actual customer images may vary.
Features & Benefits
Eligibility & Documentation
Used vehicle loans available for vehicles up to 10 years old
Lower rates of interest as compared to other unsecured loans
Maximum flexibility
Speedy loan disbursements
2. PERSONNEL LOANS
a. Personnel loan
“New look to my old house - without any difficulty!”
I took a personal loan from Mahindra Finance as I wanted to renovate my house. The rate
of interest being offered to me was very low. So I took it, and I found the loan process to
be smooth and quick. The entire house renovation process...
Read More
- Mr. Sharad Patel, Nashik
*Images are for reference only. Actual customer images may vary.
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Features & Benefits
Eligibility & Documentation
FAQs
Instant personal loan approval and disbursement in 2 days
Loans of up to Rs. 3 lakh
Hassle-free documentation with maximum flexibility
Maximum loan tenure of up to 3 years*
Easy EMI payment option through cheque, ECS, mobile transfer or cash at the branch
*Conditions Apply
b. GOLD LOAN
“Mahindra Finance has made my life much easier.”
I needed funds for my construction business. So I approached Mahindra Finance as they
had attractive interest rates on gold loans. I found them highly professional and more co-
operative than most other financial service providers. They customised the loan as per my
needs with...
Read More
- Mr. Jiji K. P., Kerala
*Images are for reference only. Actual customer images may vary.
Features & Benefits
Eligibility & Documentation
Get a gold loan of up to Rs. 10,00,000/-
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Repay only by servicing regular interest on the loan/EMI repayment option
available on request
Enjoy assured security of your gold jewellery
Loan tenure is of 1 week to 3 years
3. HOME LOAN
“From an empty plot of land to a blissful home - thank you Mahindra Finance.”
I used to stay in a rented house but had a great piece of land where I always dreamt of building a
nice little house. But I had no money. So I approached MRHFL...
- Mr. Yogesh Kaushal, Dewas
*Images are for reference only. Actual customer images may vary.
Features & Benefits
Eligibility & Documentation
Wide network across the country to ensure you have no trouble reaching us
Personalised documentation assistance for smooth processing
Flexible repayment options
Door-to-door servicing to ensure maximum convenience
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Loan available for various purposes – construction, renovation, improvement and
purchase
Fixed and variable rates of interest subject to conditions
4. FIXED DEPOSITS
In these uncertain times, get the most of your hard-earned money without the risk of losing it.
Invest your money in our Fixed Deposit schemes that offer you highly competitive interest rates
and help it grow consistently over a period of time.
Features & Benefits
Eligibility & Documentation
Rate of Interest
The MMFSL Fixed Deposit has a Crisil rating of 'FAAA', which indicates a high level of
safety
Cumulative as well as non-cumulative options available
0.25% additional rate for senior citizens
0.35% additional interest for all Mahindra group company employees
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5. MUTUAL FUNDS
In today's time, we all realise the need to move from just 'saving' to 'investing' our money in the
right areas. It's only then that we help our money to achieve its potential for growth. And mutual
funds are where your money can really flourish and easily beat the inflation. At Mahindra
Finance, we recognise this opportunity and have designed various schemes to help you invest
your money and gain the most from it.
Overview
Features & Benefits
Eligibility & Documentation
Fund Distribution (FINSMART)
Our Mutual Fund Distribution team started its operation in September 2005, and since then, has
spread widely across the Southern, Western and Northern states of India.
The entire effort here is to provide you with end-to-end solutions to help you achieve your
financial objectives in a hassle-free manner.
When it comes to investing, we understand that everyone has unique needs based on their own
financial objectives and risk profiles. And while many investment avenues are open to investors,
it is usually seen that in the longer run, equities typically outperform the others.
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PROMOTIONAL POLICIES OF MAHINDRA FINANCE
We at Mahindra Finance are one dynamic lot – always bustling with something fresh, working
towards successful developments and creating positive ripples in the industry. So be it corporate
events, latest launches, CSR initiatives or any other celebration – drop in here to get your fill of
the latest happenings and events associated with Mahindra Finance.
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Our advertising campaigns are yet another medium for us to express our commitment to
the values and beliefs we hold fast. Take a look at some pieces of communication we've featured
in the media, with a small hope to reach out to all those who can benefit from our offerings.
RESEARCH METHODOLOGY
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Meaning of research
Research in common parlance refers to a search for knowledge. Once can also define search as a
scientific and systematic search for pertinent information on a specific topic. Infect research is an
art of scientific investigation. The advanced learner’s dictionary of current English lay down the
meaning of research as “A careful investigation or inquiry specially through search for new facts
in any branch of knowledge.”
This inquisitiveness is the mother of all knowledge and the method which man employs for
obtaining the knowledge of whatever the unknown can be termed and research.
What is research methodology?
It is the science that tells the method of doing research.it mainly consist of following steps;
Developing research design.
Determining the data collection.
Developing sampling plan.
Conducting field work.
Research in comman parlance refers to a search for knowledge .One can also define research as
a scientific and systematic search for pertinent information on a specific topic. The word
research has been derived from French word research means to search.
Definition of research methodology:
Research may be defined as “a careful investigation or enquiry specially through
search for new facts in any branch of knowledge” in a technical sense research comprise
defining& redefining problems, formulated making deduction & researching conclusion & at
least carefully testing the conclusion to determine weather they fit the formulating hypothesis.
RESEARCH DESIGN: Research design is the conceptual structure within which research is
conducted. It constitutes the blueprint for collection, measurement and analysis of data. The
design used for carrying out this research is descriptive.
Research design used in the survey:
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Considering the objectives of the study and also the importance of the
decision it was decided to undertake an exploratory survey.
Data collection:
1. primary data-primary data are those which are fresh and collect for the first time and thus
happen to be original character.
2. Secondary data-It is the data that is already been collected by someone else.
In this survey I used both primary and secondary data. All information collected through
questionnaire.
Data sources:
The sources of collection of primary data are:
Questionnaire
The sources of collection of secondary data are:
Books
Websites
Magazine
Brochure
Analysis and interpretation:
Data collection through questionnaire and personnel interview resulted in
availability of the desired information but these were useless until there were analyzed.
Various steps required for this purpose were editing, coding and tabulating. Tabulating
refers to bringing together similar data and compiling them in an accurate and meaningful
manner. The data collected by questionnaire was analyzed, interpreted with the help of
table, bar chart and pie chart.
Sampling plan
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It is very difficult to collect information from every members of population as time and
cost are the major limitation that the researcher faces a sample 30 was taken the sample size of
30 individual where selected on the basis of convenient sampling techniques. The individuals
were selected in the random manner form sample and data were collected from research study.
Need for sampling
Sampling can save time and money. a sample study usually less expensive than a sensus
study and produces result at a relatively faster speed.
Sampling remains the only way when population contain infinitely may members.
Sampling remains the only choice when a test involves the destruction of the items under
study.
DATA ANALAYSIS AND INTERPRETATION
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Q1. Are you aware about Mahindra Finance?
YES NO
85% 15%
85%
15%
YESNO
According to survey we find that 85% of customers are aware about Mahindra Finance while
15% are not.
Q2. Have you owned any Services of Mahindra Finance?
YES NO
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40% 60%
40%
60%
YESNO
According to survey we find that 40% of customers are owned a services of Mahindra Finance
while 60% are not.
Q3. Which type of Service do you owned?
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Two wheeler loan 28%
Car Loan 35%
Commercial Loan 5%
Personnel loan 15%
Home Loan 17%
28%
35%5%
15%
17%
Two wheeler loan Car Loan Commercial Loan Personnel loanHome Loan
According to survey we find that 28% of customers are owned Two wheeler loan, 35%
customers have Car Loan, 5% customers have Commercial loan, 15% customers owned
Personnel loan while 17% customers are have Home Loans from Mahindra Finance.
Q4. Are you satisfy with the interest rates and services provided by Mahindra Finance?
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YES NO
65% 35%
65%
35%
YESNO
According to survey we find that 65% of customers are satisfy with Mahindra Finance while
35% are not.
Q5. Rate the product about your satisfaction?
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GOOD 52%
VERY GOOD 20%
EXCELLENT 18%
POOR 10%
52%
20%
18%
10%
GOODVERY GOOD EXCELLENTPOOR
According to survey we find that 52% of customers are likely to says that its Good, 20%
customers says its Very Good, 18% customers says its excellent while 10% says its Poor.
Q6. By which source you come to know about Mahindra Finance?
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T.V 58%
NEWSPAPER 15%
HOARDINGS 10%
MOUTH OF TONGUE 17%
58%
15%
10%
17%
T.VNEWSPAPERHOARDINGSMOUTH OF TONGUE
According to survey we find that 58% of customers are come to know by T.V, 20% customers
says by Newspaper, 10% customers says by Hoardings while 17% says by Mouth of tongue.
Q7. Did you aware about Promotional policies of Mahindra Finance?
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YES NO
65% 35%
65%
35%
YESNO
According to survey we find that 65% of customers are aware about promotional policies while
35% are not.
Q8. Are the employees of Mahindra Finance cooperative with you when you visit?
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YES 55%
NO 45%
55%
45%
YESNO
According to survey we find that 55% customers are satisfied with the workers of Mahindra
Finance while 45% customers are not satisfied.
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LIMITATIONSLIMITATIONS
Non Cooperation’s of Respondents :-
The respondent was not cooperative at the time of survey.
They were hesitating to talk with the strangers.
Language Problem:-
The problem of English was occurring.
Shortage of time
The time period was not fulfilled.
The requirement of more time was there.
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SUGGESTION
1. Should give their product at affordable interest rates.
2. More and more promotion techniques should be there to promote it
3. Make more offices in every place.
4. Should be available in every place. In small town there is a problem of office or
franchise.
5. Generally people are not aware. make them aware
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FINDINGS
Major competitors of Mahindra Finance are Sundaram Finance L&T and many more.
Peoples who are in profession line preferred Mahindra Finance due to its interest rates.
Interest rates applied are affordable by the customers.
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CONCLUSION
The overall disbursement registered a growth of 35.3 per cent at Rs.19,504.3 Crores as compared
to Rs. 14,419.9 Crores in the previous year. Your Company during the year under review,
continued to provide a wide range of financial products and services to its customers through
diversification of its product portfolio within its vehicle financing business as well as through the
introduction and growth of other financial products and maintained its market leadership position
in rural and semi-urban markets. Your Company has increased its presence in financing of
commercial vehicle, construction equipment, as well as, pre-owned vehicle while maintaining
aggressive growth in car financing, retaining its leadership position in financing Mahindra range
of vehicles and tractors in addition to extending its lending to vehicles of other Original
Equipment Manufacturers (OEMs).
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