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Muthoot Finance

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Muthoot Finance

  • 40,000 employees
  • Across 29 states and six union territories
  • Total income of Rs. 54,310 million (US$ 736.52 million) was recorded in the first half of FY21
  • The company has over six million customer portfolios

Muthoot Finance Limited is a gold financing company. The company is a non-banking financial company (NBFC) which is engaged in providing loan (financing) against collateral of gold jewellery. The company operates through two segments: financing and power generation. The company provides personal and business loans (secured by gold jewellery) primarily to individuals having no access to formal credit for a reasonable tenure to meet their short-term working capital requirements. The company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking, home loans, personal loans, collection services, microfinance, windmill power generation, white label automated teller machine, instant money transfer services and domestic money transfer services. The company has a network of more than 5,190 branches all over India. In Sri Lanka, the company offers corporate loans, mortgage loans, factoring, business loans and short-term loans among others.

Company source: www.muthootfinance.com

Muthoot Finance: Empowering lives. Transforming India

2021 Muthoot Finance collaborated with fintech NIRA as part of strategy to strengthen its digital footprint. Through this partnership, salaried customers can avail personal loan of up to Rs. 1 lakh (US$ 1,373.81) from Muthoot by downloading the NIRA app.
2020 Muthoot Finance awarded with Dhanam BFSI Award 2020
2019 Muthoot Finance Limited to acquire IDBI Mutual Fund to foray into Mutual Fund Asset Management space
Muthoot Vishwaas Ki Tijori’ got Silver at ABBY Awards 2019, Gold at Golden Mikes Award 2019 and Flame Awards Asia 2019, respectively
In NBFC sector, Muthoot Group becomes first to launch an Artificial Intelligence (AI) powered virtual assistant, ‘MATTU and MITTU’
2018 Received an in-principle approval from the Securities and Exchange Board (SEBI) of India to commence asset management operations.
2016 Muthoot Finance completes acquisition of Muthoot Insurance Brokers Pvt Limited.
2013 Muthoot Finance Ltd, India’s largest gold loan company has announced to launch its maiden Employee Stock Options Plan (ESOP). Muthoot Finance has got the RBI License to start operating 9,000 White Label ATMs. Muthoot Finance branch network crosses 4,400 branches.
2011 Muthoot Finance launches the Western Union Money Transfer Service.
2010 Branch network of the company crosses 1,000 branches.
2008 Conversion of the company into a public limited company.
2007 Branch network of the Company crosses 500 branches.
2001 RBI license obtained to function as an Non-Banking Financial Company (NBFC).
1997 Our company was originally incorporated as a private limited company on March 14, 1997 with the name “The Muthoot Finance Private Limited” under the Companies Act.

 

Financial Services
India is expected to be the fourth largest private wealth market globally by 2028.