Madras Hire Purchase Association : Introduction
Madras Hire Purchase Association (MAHA), We are pleased to introduce ourselves as a well-established organization registered under Tamil Nadu Societies Registration Act with a legacy spanning over 33 years. Our association comprises more than 1200 members who are actively engaged in the financial sector, dealing with both movable and immovable assets.
Our members are predominantly entrepreneurs and business owners who contribute significantly to the economic development of the country. Through their enterprises, they generate substantial employment opportunities, both directly and indirectly, particularly benefiting the economically weaker sections of society. Collectively, our members have made a contribution exceeding ₹3,000 crore to the financial industry across India.
MAHA is the largest body of financiers in India, representing a diverse membership base that includes Public Limited Companies, Private Limited Companies, Partnership Firms, and Individual Financiers from across South India.
While many of our member companies are directly regulated by the Reserve Bank of India (RBI), even those who are not under direct RBI supervision voluntarily adhere to the Fair Practice Code and regulatory norms prescribed by the RBI. In terms of business conduct—such as executing formal agreements and adhering to structured repayment plans through Equated Monthly Installments (EMIs)—there is practically no difference between incorporated and unincorporated entities within our association.
Our members are primarily engaged in hypothecation-based financing, enabling the purchase of:
* Two-wheelers – New / Used
* Auto-Rickshaws - PCV/ GVC - New / Used
* Four Wheelers (Pvt Cars) - New / Used
* Four Wheelers ( GCV) - New / Used
* Light Motor Vehicles (LMVs) - New / Used
* Trucks and Heavy vehicles - New / Used
* Trailers - New / Used
* Commercial and non-commercial properties
* Loans against existing properties
Importantly, our members also serve underserved and remote areas where traditional banking institutions may not have a presence. They offer financial assistance to individuals and small businesses that are often overlooked by formal banking channels, thus playing a critical role in financial inclusion and economic empowerment.