Kolkata, 18th March 2010: Kolkata has given birth to many a talent in the fields of literature, art and culture. To promote and encourage art and upcoming talented artistes of the city, Magma Fincorp Limited, India's leading retail finance company is holding a two day Painters' Workshop at the 12th Floor of Magma House.

The Magma Painters' Workshop, which began today, has 10 promising city artistes colouring the canvas with their unique imagination. The workshop was graced by eminent painter Mr Wasim Kapoor and Tollywood actress Ms Ananya Chatterjee.

"Magma has always encouraged and nurtured talents in the field of art. This is for the third time we are having such a workshop for some of the multifaceted young artistes of the city. This year onwards, we would be having Magma Painters' Workshop in other parts of the country as well", said Mr Kaushik Sinha, Head - Communications, Magma Fincorp Limited.

Mr. Wasim Kapoor will also decide the best two painters from their works, who would be given a scholarship by Magma.

About Magma Fincorp Limited

Magma Fincorp Limited ('Magma') is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance Company. The Company, having started operations over two decades back, is listed on the Bombay Stock Exchange Limited and the National Stock Exchange in India.

Magma provides a bouquet of financial products including financing of Utility Vehicles & Cars, Commercial Vehicles, Construction Equipments, Tractors and SME Loans. Magma has a dedicated base of over 2.5 lac customers and has assets of approximately INR 9390 crores under management. The company has 153 branches in 20 states and 1 union territory and employs over 4400 people.

Magma has recently signed a joint venture with HDI Gerling, part of Talanx Group, Germany's third largest insurance group to start a general insurance company in India. The new company will be head quartered in Kolkata. The new insurance company since has obtained Reserve Bank of India approval and is currently awaiting the Insurance regulator IRDA approval for commencement of operations.