Pahal Financial Services Pvt. Limited Revenue and Competitors

PAHAL financial Services Pvt. Ltd. (Earlier known as Kelkar Leasing Company Pvt. Ltd.) was started in 1994 as a Non-Banking Finance Company (NBFC) with a vision that the young blood of the family will take this company forward but as they went abroad, the company remained idle for many years. The present Management identified this company for doing microfinance since it was an existing NBFC registered with the Reserve Bank of India. The company was duly acquired on 8th February, 2011.The current promoters brought in the initial equity of Rs.2 crores and commenced the microfinance activities with a vision to provide holistic financial inclusion. The current promoters acquired the microfinance portfolio of Lok Vikas Nidhi (a Division of Vikas Centre for Development)-a well-known trust operating in the area of social development in Gujarat for over 25 years. Vikas did not wish to run the microcredit activity and hence the portfolio created under the Joint-liability group (JLG) methodology was acquired by the NBFC. The name has been subsequently changed from Kelkar Leasing Company Private Ltd to PAHAL financial Services Private Limited to reflect the nature of the work we have undertaken in financial inclusion. We have also obtained a status of NBFC-MFI as required by the Reserve Bank of India guidelines. The Company's vision is to promote holistic financial inclusion across the entire spectrum of financial services including credit, savings/investments, insurance, remittances and advisory services. The idea is to engage the customer across the entire life cycle of her family and enable credit and income enhancement, wealth creation and contingency planning. We believe that any initiative to uplift the population at the bottom of the pyramid (BOP) requires scientific impact assessment of the initiatives undertaken. Going forward also, structured impact study of interventions made is going to be the critical to our strategy.