10-03-2016, 09:54 AM
Muthoot Finance was the first Indian company to corporatize this
business under the Non-banking Finance Company framework. It
welcomes government regulation as a decisive step towards
responsible industry growth.
Muthoot Finance addresses extensive RBI requirements through the
following compliances:
• The Company files monthly, quarterly and annual returns to the RBI
• The Company addressed the tightening capital adequacy ratio
requirements (from 10% to 12% to 15%) with corresponding
compliances
• The Company introduced Fair Practices Code, KYC norms and AntiMoney
Laundering Norms with speed
• The Company is subject to periodic RBI inspection
The result: the gold loan industry has passed through two economic
downturns in the last few years without any defaults.
Muthoot Finance was one of the first Indian companies to consider
thousands of rural Indians as perfectly bankable even before the term
‘financial inclusion’ was coined.
Muthoot Finance brought thousands of rural and semi-urban Indians into
the banking net for the very first time through the following initiatives:
• Widened and deepened its reach closer to locations of borrower
presence
• Evolved from the proprietary approach to the professional; the
partnership firm of Muthoot Bankers became an NBFC in 2001, one of
the first such instances among pure play gold loan companies in India
• Extended from a single locational presence to a multi-locational spread
• Graduated from arbitrary decision-making to institutionalised processes
and systems
The result: Muthoot Finance provided gold loans to millions, energising
India’s rural and semi-urban economy across more than seven decades
of its existence.
Muthoot Finance was one of the first gold loan companies to provide India’s millions with the
option of a timely loan against their precious holdings just when they required it.
Muthoot Finance served rural and semi-urban Indians through the following initiatives:
• Nearly 70% of the Company’s 3678 locations were located in rural and semi-urban locations
• The Company’s rural and semi-urban offices were customised in décor around the prevailing
environment without intimidating potential loan seekers
• The Company recruited for its local branch from within that geography, enhancing local familiarity
• The Company entered district headquarters and fanned out to the peripheral districts, enhancing
regional visibility and familiarity
• The Company provided short-term loans that could be liquidated as soon as the borrower
possessed the funds
The result: Of the 6 million loan proposals that Muthoot Finance catered as on March 31,2012, a
majority were drawn from areas with a population of less than 50,000.
business under the Non-banking Finance Company framework. It
welcomes government regulation as a decisive step towards
responsible industry growth.
Muthoot Finance addresses extensive RBI requirements through the
following compliances:
• The Company files monthly, quarterly and annual returns to the RBI
• The Company addressed the tightening capital adequacy ratio
requirements (from 10% to 12% to 15%) with corresponding
compliances
• The Company introduced Fair Practices Code, KYC norms and AntiMoney
Laundering Norms with speed
• The Company is subject to periodic RBI inspection
The result: the gold loan industry has passed through two economic
downturns in the last few years without any defaults.
Muthoot Finance was one of the first Indian companies to consider
thousands of rural Indians as perfectly bankable even before the term
‘financial inclusion’ was coined.
Muthoot Finance brought thousands of rural and semi-urban Indians into
the banking net for the very first time through the following initiatives:
• Widened and deepened its reach closer to locations of borrower
presence
• Evolved from the proprietary approach to the professional; the
partnership firm of Muthoot Bankers became an NBFC in 2001, one of
the first such instances among pure play gold loan companies in India
• Extended from a single locational presence to a multi-locational spread
• Graduated from arbitrary decision-making to institutionalised processes
and systems
The result: Muthoot Finance provided gold loans to millions, energising
India’s rural and semi-urban economy across more than seven decades
of its existence.
Muthoot Finance was one of the first gold loan companies to provide India’s millions with the
option of a timely loan against their precious holdings just when they required it.
Muthoot Finance served rural and semi-urban Indians through the following initiatives:
• Nearly 70% of the Company’s 3678 locations were located in rural and semi-urban locations
• The Company’s rural and semi-urban offices were customised in décor around the prevailing
environment without intimidating potential loan seekers
• The Company recruited for its local branch from within that geography, enhancing local familiarity
• The Company entered district headquarters and fanned out to the peripheral districts, enhancing
regional visibility and familiarity
• The Company provided short-term loans that could be liquidated as soon as the borrower
possessed the funds
The result: Of the 6 million loan proposals that Muthoot Finance catered as on March 31,2012, a
majority were drawn from areas with a population of less than 50,000.