About Us

S. Paul
Chairman & Managing Director
Paul Merchants Limited

Beginning of the Journey………

The illustrious Journey of PML started in the year 1991 with its founder Mr. Sat Paul Bansal acquiring an existing Company known as Brite Agro Mills Ltd from its then promoters, which was originally incorporated in the year 1984. Before putting it on the path of growth, the name of the Company changed to Paul Merchants Limited, a name which became synonymous with Trust, Quality, Assurance and Integrity in the following years.

The saga which started with few people getting together to offer services with a difference, ultimately unfolded into a large conglomerate having diversified interests in Forex, International Money Transfer, Tours, Travels, Holidays Packages and Air Ticketing over a period of time.

Statutory Constitution

The Company is a Public Limited Company with its scripts listed on Bombay Stock Exchange. The Corporate cum Head office of the Company is at Chandigarh. The Company holds licenses issued by Reserve Bank of India to act as Authorized Dealer Category II and is a prominent Sub-Agent of EBIX Money Express (P) Ltd for providing inbound International Money Transfer services. Further PML is an IATA accredited Travel Agency. For its quality systems and processes, the Company is ISO 9001:2015 certified, by United Registrar of Systems.

Marching Ahead Step By Step…

Foreign Exchange

After beginning with all kinds of Financial Services, PML embarked upon Foreign Exchange services in 1995. With a liberalized Economic Policy in place, the then Govt. of India had come up with an array of economic reforms which set the tone for Foreign Exchange market taking new dimensions in the years to come. The Company obtained a FFMC License and over a period of time, extended this service to a large number of its own Branch Offices. In the year 2008, PML got its FFMC License upgraded to Authorized Dealer II. A large number of factors like financials, infrastructure, manpower strength, network qualities, state of compliance and past conduct as FFMC taken into account by RBI while granting this status. This License enables PML to offer Outbound Remittances services for a host of purposes as permitted by RBI. As of now, PML rated among top sellers of American Express (AMEX) Travelers Cheques in India and is offering the services of Foreign Exchange from its offices situated in all major cities across the length and breadth of the country.

International Money Transfer

The Company entered into an Agency Agreement on 27th April 1998 with Western Union Financial Service Inc. New Jersey, the U.S.A. for conducting Inward Money Transfer Service, for which a specific approval had been obtained from the Reserve Bank of India. The History of Western Union dates back to 1871 and is a celebrated pioneer in the field of International Money Transfer Services. Today, it has grown to a size of $ 5.1 Billion Fortune 500 Corporate with the presence in more than 200 countries and a worldwide network of more than 5,00,000 Agents and Sub Agents. In the global remittances market, Western Union holds about 15% market share. In India alone, Western Union has 9 Principal Agents and over 117000 Sub Agents.

After making a humble beginning in October 1998, PML actively commenced its operations in the year 1999. In just no time PML unleashed towering growth in this field and rolled out the unprecedented spell of upsurge and expansion. A little indicative of the impeccable progress made by the Company is the fact that the company was providing this service from as many as more than 20000 locations all over India, which included own offices as well as Franchisee locations.

The outcome of Intuitive policies coupled with due diligent implementation, efforts of the dedicated staff and thoughtfully entered Strategic Alliances is that by 2017 PML was ranked as the top Principal Agent of Western Union in the whole of Asia-Pacific Region.

Business Payment Solutions

After creating a prestigious space in personal International inward, PML has joined hands with Western Union Business Solutions to offer cross-border business payment solutions, both inward & outward, to Indian business houses. Through this platform, PML will be able to offer a speedy, safe, cost-effective and convenient service which will be a step to boost trade & commerce in the country.

Growth Is Not The Final Frontier But A Way Of Life

Travel Solutions

With growing income levels and living standards, liberalization & rationalization of forex laws, opening up of international borders, peaceful & stable political situation and declining airfares, the world has become an integrated tourist destination where every tourist spot is accessible to every person on the earth. PML’s Travel division geared to help every Indian citizen to realize his dream of touring and PML has at its disposal Holiday Packages tailored for the needs of people from all walks of society as per their tastes, status, and pocket. PML has a massive backing of associations with major Global Travel players in almost every country, making it possible to offer the best competitive prices around.

Towards the end of 2010, the Company started making its significant presence in the highly promising sector of international tours, ticketing, and holiday packages. As on today PML’ travel division, which christened as ‘PML Holidays’, has at its disposal holiday packages tailored for the needs of people from all walks of society as per their preferences and pocket. Today, PML is not just accredited with IATA but also affiliated with the Ministry of Tourism and has memberships of TAAI, PATA, and ASTA. Falling in line with the industry trends, PML is now available for ONLINE reservations of Air Tickets & Hotels through their domains www.pmlholidays.com ( B2B site) & www.travelyatra.in ( B2C site). A separate inbound department is also a part of PML Holidays Travel team handled by expert Travel professionals to carter the guests traveling from overseas to showcase the insight of INDIA, an individual domain name www.incredibleindiaexcursions.com caters to all necessary information.

Some contributories to success:


Over the years, PML has grown and prospered by making its customers its friends and partners in the prosperity. A customer is always with PML in all its thoughts, policies and services. A customer is given a patient ear to what he says, its found out what are his requirements and expectations, it is identified what at PML will make him satisfied and then it is made sure that the same incorporated in the services and products offered by PML. With its motto of providing “Service Up To The Utmost Satisfaction Of The Customer”, PML has been able to reach out to the hearts of millions of people.

Quality Assurance

PML has been committed to creating world-class service facilities with stout systems & processes, building the faith and trust of the customer, setting up an extensive network and gaining insights into the mind of the customer. The Policies and dedication of PML to this end is aptly manifested in the highest level of customer satisfaction, and this goes a long way in reinforcing its status as a market leader. PML has been granted ISO 9001:2015 certification for its Quality Management Systems by United Registrar of Systems. Holding this accreditation vouches for the systems and procedures of the company conforming to the highest international standards and Company’s ability to consistently provide services that meet customer and applicable regulatory requirements.

Nothing Less Than Excellence Is Our Bargain


The Company is being managed professionally by a Group of experienced professionals having wide experience in their respective fields under the innovative leadership of its Chairman cum Managing Director, Mr. Sat Paul Bansal who himself has an experience of over 40 years in various lines of business. The younger generation has infused modern ideas with the new school of thought and brought many technical & innovative changes in the business practices, under the leadership of the Directors of the company, Mr. Sandeep Bansal, a seasoned professional and Mr. Rajneesh Bansal, an MBA from Australia.

Compliance Culture

PML has always believed that good values and good business go hand in hand. On its way to success, PML has never forgotten to synchronize business with ethics and the result is that words like Total quality, Total compliance, and Total satisfaction have become synonymous with PML. The Lawbook finds a high place in every venture PML embarks upon and forms an integral part of its heritage and corporate culture. PML’s compliance program goes beyond the Statutory and regulatory requirements. The endeavor is to follow the spirit of the law than mere literal compliance with the Statute.

Corporate Vision

Our vision is to be a market leader, better known for its corporate culture where “TOTAL QUALITY’ and “TOTAL COMPLIANCE” are two religions, where the mission is to provide “Total Services under One Roof in Financial Services Sector to the utmost satisfaction of the customer”, where the customer is the friend and partner in company’s prosperity and where the commitment of the human capital is to take forward the core values of the Company with supreme dedication.

Peeping Into Future

Why are we special today and what differentiates us from others?. The answer to this question ironically also unveils the picture of our future and goes to demonstrate our position as top of the lot. With the backing of strong fundamentals, vast & loyal customer base, rock-solid financials and steadfast vision of policymakers of PML, we are all set to ride into another summit. Our unique business model which harmonizes ethics with revenue, our thoughtfully structured corporate policy which bridges the sentiments with commerce and our unified & committed workforce which is raring to sprint leaves no room for any doubt that the future belongs to us like our glorious past which has left its indelible footprints on the History books.