Usha Financial Services Limited was incorporated as a Private Limited Company under the Companies Act, 1956 in the name and style of ‘Usha Financial Services Private Limited’ issued by the Registrar of Companies, Delhi dated May 16, 1995. Further, the company was converted into a Public Limited Company in pursuance of a special resolution passed by the members of the company at the Extra-Ordinary General Meeting held on June 03, 2022, and the name of the company changed from ‘Usha Financial Services Private Limited’ to ‘Usha Financial Services Limited’ & Registrar of Companies, Delhi issued a new certificate of incorporation consequent upon conversion dated October 12, 2022.

Usha Financial Services is a non-banking finance company (NBFC) incorporated in the year 1995 registered with the Reserve Bank of India as a NBFC-ICC (Investment & Credit) - base layer- non-systemically important non-deposit taking NBFC with years of lending experience. It provides lending solutions to fellow NBFCs and corporates, MSMEs, and individual, particularly to women entrepreneurs. Its services also extend to Electric vehicle (EV) financing. It provides a diversified range of financial products to individuals, body corporates, NBFCs and MSMEs.

The company evaluates borrowers before providing them with the loans and financing. It has a dedicated team to conduct the evaluation. Its customer due diligence procedures encompass multiple levels of checks and controls designed to assess the capacity of customers and to confirm that they meet its stringent selection criteria and include comprehensive evaluation of repayment capacity and detailed cash flows analysis of the customer. The company ensures that the loan disbursement process is efficient, smooth, and transparent, with a quick turnaround time (TAT) and a strong focus on customer satisfaction. These loans are EMI-based with competitive interest rates and other favourable terms. All disbursements are conducted through banking channels, directly into the customer’s account.

The company’s loan management system is integral to overseeing its loan portfolio effectively, offering essential decision-making and operational support. This system comprehensively covers asset management, core financial functions, risk management, document handling, and customer service throughout the loan lifecycle. It utilizes Vexil software, developed by Vexil Infotech, as its primary financial software solution to meet all operational needs. This software enhances efficiency in managing loans, supporting activities such as collections management, field staff tracking, and reporting of collection data. Its technical team oversees the software's implementation and daily use, ensuring its staff are well-trained and proficient in its functionalities. 

Business area of the company

The company is a NBFC incorporated in the year 1995 registered with the Reserve Bank of India as a NBFC-ICC - base layer- non-systemically important non-deposit taking NBFC with years of lending experience.

Products of the company

• Loans to Other NBFCs and Corporates
• Green Financing/ Electric Vehicle Finance
• MSMEs, focusing on small entrepreneurs

History and milestones

• 1995: Incorporation of Company.
• 2015: Acquisition of Majority shareholding by Mr. Rajesh Gupta and Mr. Anoop Garg. 
• 2022: Alteration of Name clause of Memorandum of Association and subsequently the company was converted from Private Limited Company into Public Company. 
• 2022: Alteration in Memorandum of Association due to increase in Authorized share capital. The Authorized Share Capital was increased from existing Rs 10 crore to Rs 26 crore.