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Maha Rashtra Apex Corporation, a non-banking finance company was incorporated in April 1943 as Maharashtra Apex Bank. In 1955, all its branches were transferred to Canara Industrial and Banking Syndicate. Post which the company was changed to a hire-purchase company and accordingly its name was changed to the present one.
The main activities of the company are lease and hire purchase, automobile financing, bill discounting, corporate finance, etc. ICDS, Manipal Finance Corporation, Canara Steel and Karnataka Consumer Products are its group companies.
It plans to diversify into merchant banking, OTCEI dealership, stock exchange membership, money changing business, mutual funds, etc.