History of the Company
Pahal Financial Services Private Limited (“Pahal”) is a word in Hindi which means “A new Beginning”. Pahal is a company registered with Reserve Bank of India as a Non-Banking Financial Company more specifically as NBFC – MFI, providing microfinance services to the low-income households. Pahal started its operation as MFI in 2014 and within just 5 years it has become one of the fastest growing MFI in this segment. It started its work from some districts of Gujarat and at present Pahal has expanded its roots in the districts of Madhya Pradesh, Maharashtra, Rajasthan, Bihar, Chhattisgarh and Uttar Pradesh with its registered office situated at Ahmedabad. It has over 140 branches with portfolio around 700 crores with over 1,200 employees working at its Corporate Office and branches. It has touched the lives of millions of poor families by providing them credit for income generating activities and help them become economically self-sufficient and bring qualitative change in their standard of living and their status in society.
Pahal endeavors to deliver quality services to its customers by offering a range of financial and non-financial products and services to low income households and individuals to improve their quality of life. Pahal constantly strives to identify the changing need of its existing and prospective clients and accordingly designs the products and services to make the ends meet.
At present, Pahal has raised funds from more than 30 financial institutions including public/private banks, Non-Banking Financial Companies. It is also enrolled as partner institution with MUDRA – Micro Units Development & Refinance Agency Ltd. Further Pahal has also signed Memorandum of Understanding with Asian Development Bank for technical assistance on strengthening financial inclusions through responsible finance practices.