Chairman & Managing Director
Paul Merchants Limited
Saga Of Success
From Money Transfer To Transforming Lives
Braving to step out from the comfort zone of the family business, Mr. Sat Paul Bansal embarked on an illustrious journey to tread the untrodden path. Fuelled with grit and perseverance, he went on to achieve unprecedented success in a short span of time. He started small, dreamt big and had a clearly defined vision to fulfill his dreams.
The saga, which started with few people led by Mr. Sat Paul Bansal, Chairman and Managing Director of Paul Merchants Limited, getting together to offer services with a difference has ultimately unfolded into emergence of a large conglomerate having diversified interest in forex, international money transfer, entertainment industry (Satellite TV), distribution of telecommunication services, tours & travels, holiday packages and air ticketing over the time.
Beginning of the journey…
Mr. Paul joined the family business of cloth merchants in the year 1963. A year later, Mr. Paul collaborated with Indian Oil Corporation as their main distributor and distributed petroleum products in the region and gradually established a fleet of four gas stations, two kerosene oil agencies, and one LPG agency over a period of time.
In the year 1971, when the country was on war with Pakistan, Mr. Paul took an exemplary initiative of running his gas stations for 24 hours a day to ensure uninterrupted supply of gasoline to all military and private vehicles acquired on army duty. He received a Special Recognition for his service to the nation during the wartime.
In 1978, Mr. Paul shifted base to Chandigarh as Principal Distributor of Bombay Dying for the States of Punjab, H.P., Haryana, and U.T.
In the year 1990, Mr. Paul acquired a Delhi based Public Listed company and subsequently in the year 1991, the name of the company changed to Paul Merchants Limited (PML).
This was the turning point in the life of Mr. Paul, which set the ground for his illustrious journey, which was the creation of a business house, which became synonymous with trust, quality, assurance, and integrity in the following years. Paul Merchants Limited is a public limited company with its scripts listed on Bombay Stock Exchange.
International Money Transfer
Towards the end of the year 1998, PML collaborated with Western Union Financial Services Inc, The USA as a principal agent. After making a humble beginning in 1998, PML actively commenced its operations in the year 1999. In just no time PML unleashed towering growth in this field and rolled out an unprecedented spell of upsurge and expansion.
Company’s impeccable progress in this sector could be gauged by the fact that commencing its operation with just eight offices at that time, the company grew to have a Network of more than 21000 own offices and a franchisee Locations spread through length and breadth of the country by 2017.
Mr. Paul has always been working relentlessly towards broadening company’s horizon and take the brand PML to unchartered territories. Capitalizing on the strengths and competitive advantage already established, PML diversified into highly promising travel sector in the year 2010.
PML’s Travel division, which christened as ‘PML Holidays’ has been 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 preferences 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. Today, PML is not just accredited with IATA but also affiliated with Ministry of tourism and has memberships of TAAI, PATA, and ASTA.
Falling in line with the industry trends, PML joined the online revolution to take the offering of travel services to a next level. PML now offers dedicated B2B travel solutions through its portal www.pmlholidays.com. It also offers complete travel solutions to travelers right from air tickets to hotel bookings through another portal www.travelyatra.in. A separate inbound department is also a part of PML holidays travel team being handled by expert travel professionals to showcase the insight of India to overseas travelers. A dedicated portal owned by PML holidays, www.incredibleindiaexcursions.com provides all necessary information and advisory to international travelers.
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 Law-book 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.
Introducing business norms that were ahead of their time, and by investing in strategic relationships, Mr. Paul always upheld the fact that business success lies in value addition brought along by people associated with the group. He always tried to build a strong bond with the human resources of the group and worked very closely with business associates and customers.
Mr. Paul follows a simple premise – a satisfied customer is a permanent asset and a satisfied employee is the base of customer satisfaction.
A Corporate Citizen
Upbringing and the value system imbibed from the childhood made Mr. Paul a socially responsible person. Having a strong sense of social commitment and responsibility, Mr. Paul goes an extra mile to give back to society and see to it that this philosophy permeates in the way company functions.
From education to healthcare, eradicating hunger, sanitation and environment protection, PML takes many initiatives towards sustainable development of society. “Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime”, believing strongly in this popular saying, Mr. Paul takes the special interest in educating and empowering young minds from the socio-economic weaker section of society. From distributing educational kits to scholarship programs to bright students from government schools, PML contributes majorly to ensuring the overall socio-economic development of the rural & urban poor on a sustainable basis.
Firmly rooted in having an experience of over 45 years, Mr. Sat Paul Bansal is now poised to scale new heights with active support and involvement of young Turks from family. 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.
The Road Ahead…
More and more data is being consumed on mobile devices, the business is getting interspersed with our daily routine. Realizing the power of mobile technology, PML Group is coming up with a highly robust and institutive platform offering option of making payment and host of other features at the convenience of a mobile phone. Named as ‘Paul Money’, the Group Company Paul Merchants Limited has already obtained a license from RBI to operate mobile-based payment gateway platform. The product is currently in the development stage and will be launched soon.