Muthoot

George Alexander Muthoot says the firm will prioritise gold loans due to strong demand and regulatory pressure on unsecured lending, as MFI exposure is scaled down

George Alexander Muthoot says the firm will prioritise gold loans due to strong demand and regulatory pressure on unsecured lending, as MFI exposure is scaled down

The gold loan company also reported that its loan assets rose to Rs 55,147 crore as compared to Rs 47,016 crore in Q2FY21

Muthoottu Mini Financiers Ltd, one of the largest NBFC in India, announced launch of three new zonal offices across India to upgrade operational efficiency and to provide better customer experience.

Under his stewardship, Muthoot Finance achieved new heights of growth and became the market leader in the gold loan industry

Concerns remain over asset quality of non-gold biz

Shares of India's largest cash-for-gold lender have surged 71 per cent this year, the third-biggest gain on a gauge of the nation's top 200 firms

Income Tax department has conducted raids in the premises of Kerala-based financial institutions under the Muthoot banner, across the country. The raid is being conducted across the three major independent business entities, Muthoot Finance, Muthoot Fincorp and Mini Muthoot.Raids are being conducted from morning 6.30 am, in around 60 premises across the country, including the residence of the partners of these companies and key employees and also the corporate offices of these companies. There are around 400 members in the team of investigators, said an official on condition of anonimity.The action is based on some clues the Income Tax office has related to the accounting of gold auction proceeds, added the official. While these companies share the name Muthoot, each are working as independent business groups. Muthoot Finance, part of the diversified Muthoot Group, is a Non Banking Financial Company (NBFC) which claims as one of the largest gold financing company in terms of loan ...