▁They ▁received ▁the ▁certificate ▁of ▁comm enc ement ▁of ▁business ▁on ▁ 1 9 ▁February ▁ 1 9 9 1 . ▁On ▁ 3 ▁November ▁ 1 9 9 2 , ▁Mah ind ra ▁Fin ance ▁changed ▁their ▁name ▁to ▁Mah ind ra ▁& ▁Mah ind ra ▁Fin an cial ▁Services ▁Limited . ▁Mah ind ra ▁Fin ance ▁is ▁registered ▁with ▁the ▁Reserve ▁Bank ▁of ▁India ▁as ▁an ▁asset ▁fin ance , ▁depos it ▁taking ▁N B FC . ▁ ▁In ▁ 1 9 9 3 ▁it ▁comm enced ▁finan cing ▁M ▁& ▁M ▁Util ity ▁vehicles ▁and ▁in ▁ 1 9 9 5 ▁started ▁its ▁first ▁branch ▁outside ▁M umb ai , ▁in ▁Ja ip ur . ▁Beg an ▁finan cing ▁Non ▁M ▁& ▁M ▁vehicles ▁in ▁ 2 0 0 2 ▁and ▁got ▁into ▁the ▁business ▁of ▁finan cing ▁of ▁commercial ▁vehicles ▁and ▁construction ▁equipment ▁in ▁ 2 0 0 9 . ▁ 2 0 1 1 ▁was ▁the ▁year ▁in ▁which ▁they ▁had ▁a ▁joint ▁vent ure ▁with ▁Rab ob ank ▁subs idi ary ▁for ▁tra ctor ▁finan cing ▁in ▁the ▁US ▁and ▁cons olid ated ▁the ▁product ▁port folio ▁by ▁introdu cing ▁small ▁and ▁medium ▁enter pr ises ▁( S ME ) ▁finan cing . ▁ ▁Corpor ate ▁affairs ▁ ▁As ▁of ▁November ▁ 2 0 1 8 ,. ▁R ames h ▁I yer ▁is ▁the ▁Vice ▁Chair man ▁& ▁President ▁of ▁Mah ind ra ▁Fin an cial ▁Service ▁S ector ▁: ▁ ▁Product s ▁and ▁services ▁ ▁Ve