About Us
MAGALIR FINSERV PRIVATE LIMITED (MFPL) is a company registered under the Indian Companies Act, 2013. Our objective is to engage in the financial services predominantly acting as Business Correspondent (BC) / Business Facilitator on behalf of any banks, financial institutions and NBFCs. We are now an authorised Business Correspondent engaged in providing micro-loans under the JLG model on behalf of our banking partner Federal Bank Limited. We provide financial products and services in a reliable, cost-effective and transparent manner to enhance the livelihood opportunities of the under privileged segment of our population for effecting the economic & social upliftment in their life. Magalir Finserv promoted and operated by professionals with extensive business knowledge and experience in NBFC & MFI industry has a strong conviction in shaping an inclusive society. We operate in two States viz. Tamil Nadu & Kerala with a network of 51 Federal Bank BC branches spread across the two states. In the first year of our operation during FY 2022-23, we have built a BC book to reach Rs. 107.46 crores for Federal Bank at the end of FY 2023 serving 28310 customers. Having set the direction, we are now moving on to hit our ambitious goal of reaching Rs. 300.00 crores AUM in our BC book at the end of FY 2023-24.
