28-03-2014, 12:22 PM
COMPANY PROFILE OF MUTHOOT FINANCE
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Muthoot Group
The Muthoot Group is an 126-year-old business house based in India. It has interests in Financial Services, Information Technology, Media, Healthcare, Education, Power Generation, Infrastructure, Plantations, Precious Metal, Tourism, and Hospitality. The Muthoot Group operates in 23 states in India, and has presence in USA, UK and UAE.It is wholly owned and managed by the Muthoot Family.
HISTORY
The Company was set up by Muthoot Ninan Mathai in 1887 at Kozhencherry
Muthoot Finance pvt Ltd Established in the year 1939 when M.George Muthoot
In 1971, the firm was renamed as Muthoot Bankers
In 2001, the company was renamed once again and came to be known as Muthoot Finance pvt Non-banking financial company(NBFC) of the RBI guidelines.
In November 18, 2008, the company was converted into public limited company and the name was changed to Muthoot Finance Ltd.
Awards
Asian Businessman of the Year 2011
Businessman of the Decade - Shri M.G. George Muthoot 2011
The Golden Peacock Award for Corporate Governance
‘Asian Sustainability Leadership Award for Best Rural Outreach’ and ‘Asian BFSI Award for Most Admired Loyalty Program’
Gold loans
As gold loans are secured
Banks do not have such liberal rules on giving loans, either secured or unsecured.
The NBFC issue maximum number of gold loans no limits.
Margin of loan.
- 0% Processing Fees
- Loan Disbursal in 5 minutes
- Loans from Rs. 1,500 to Rs. 1 Crore
- Easy documentation
New policy related to gold loans of NBFC
60 per cent value of the pledged gold
You can take gold loans by pledging jewellery and gold coins (only in case of banks). NBFCs can offer loans only against gold jewellery
The purity of gold should be 18-24 carat