[5] Mahindra Finance started on 1 January 1991, as Maxi Motors Financial Services Limited.

In 1993 it commenced financing M&M utility vehicles and in 1995 started its first branch outside Mumbai, in Jaipur.

[8] As of November 2018, Ramesh Iyer is the Vice Chairman and President of Mahindra Financial Service Sector.

Launched in June 2016, the company offers mutual fund products, whose NAV is around ₹1000.

The company's total policies, at the end of 2012–13, stood at 8,39,408 for both life and non-life retail business lines.

During the year, MIBL entered into a strategic partnership with LeapFrog Investments, world's largest investor in insurance for the underserved.

[13] Through its subsidiary company, Inclusion Resources Private Limited, LeapFrog invested ₹80.4 crore for a 15% shareholding in MIBL.