Magma inspires confidence within financiers and alliance partners for a number of reasons: we practice a systemic approach to risk management, maintain a high asset quality, enjoy a lower-than-industry NPA and have demonstrated increasing returns across the long-term.

This segment is by far the largest of our business. We have earlier focused on helping rural customers gain access to small vehicles, a service that accounted for about 80 percent of our passenger vehicle portfolio in 2010-11; we plan to continue focusing on semi-urban and rural customers while also expanding our tier-1 city share aggressively.

We have business alliances with car dealerships, non-dealer sales agents (DSAs) and some of India’s most popular vehicle manufacturers, like Hyundai, Mahindra, Maruti and Tata. These allow us to bring the best products to our customers, and the best customers to our partners. Think of us as matchmakers.

India is already the 3rd largest passenger vehicle market in the world, growing at a 17% CAGR over the last five years. And it’s not just the numbers that are changing. The need for vehicles is growing all over India, which is where we excel.

Because we offer a range of products and competitive financing options for a wide variety of consumers, we help our partners expand their reach to a population of Indians otherwise out of reach. ‘Loan melas’ and exciting incentive schemes involving gifts and foreign travel help attract customers to our partnered dealers.

We think of our alliance partners as a part of the Magma family. They’re essential in helping us reach out to new clients, so we use RTGS to get commissions and payments back to them as quickly as possible. No lag time, no fuss. We are also constantly looking for innovative ways to partner with them and create value for the end consumer.