Mirae Asset Financial Services

Mirae Asset Financial Services and Mirae Asset Global Investments are both subsidiaries of South Korea's Mirae Asset Financial Group, but operate as distinct legal entities in India. Mirae Asset Global Investments manages mutual funds and ETFs for institutional and retail investors, while Mirae Asset Financial Services operates as a non-banking financial company (NBFC) engaged in lending activities. The two entities share parentage but maintain separate regulatory registrations, balance sheets, and management teams.

The NBFC focuses on structured credit products including loans against securities (shares and mutual funds), unsecured business loans for SMEs, and supply chain finance such as channel finance for distributor networks. It also participates in co-lending arrangements with fintech platforms and other NBFCs to extend credit at point-of-sale for consumers and small businesses.

No. As a non-deposit-taking NBFC registered with the Reserve Bank of India, Mirae Asset Financial Services cannot accept demand deposits from the public. Its funding comes from the parent group's equity capital, bank borrowings, and debt market instruments — a liability structure typical of Indian NBFCs classified as investment and credit companies.

The Reserve Bank of India regulates Mirae Asset Financial Services as a registered non-banking financial company. Its asset management sibling Mirae Asset Global Investments is separately regulated by the Securities and Exchange Board of India as a mutual fund house. This regulatory separation keeps the lending business distinct from the group's public-market fund operations.

Mirae Asset Financial Services is a wholly owned subsidiary of Mirae Asset Financial Group, a publicly traded company listed on the Korea Exchange. The ultimate parent was founded by Hyeon Joo Park in 1997 and remains one of Asia's largest independent investment firms, with global assets exceeding $200 billion across asset management, brokerage, and life insurance.