Muthoot Finance was initially started on March 14, 1997, as a private limited company named The Muthoot Finance Private Limited under the Companies Act. Its name was changed to “Muthoot Finance Private Limited” by a fresh certificate of incorporation dated May 16, 2007”.
It was converted into a public limited company on November 18, 2008, with the name “Muthoot Finance Limited” & obtained a fresh certificate of incorporation consequent upon the change in status from the RoC. Muthoot Finance Limited is India's largest gold financing company in terms of the loan portfolio. It offers personal and business loans secured by gold jewellery or Gold Loans to enable the customers to meet unexpected or other short-term liquidity needs.
It is a “Systemically Important Non-deposit taking NBFC” headquartered in the southern Indian state of Kerala. It issued non-convertible debentures “Muthoot Gold Bonds” based on private placement. It also offers other loans, including those secured by Muthoot Gold Bonds. It provides gold loans on extremely easy terms & conditions to people of each section of the society. It is always working hard towards enhancing & innovating the way the world accesses financial services.MERGERS AND ACQUISITIONS
The merger of Muthoot Enterprises Private Limited with Muthoot finance in 2005.
Muthoot Finance Ltd joined hands with Yes Bank in 2015.
In 2016, Muthoot Finance completed the Acquisition of Muthoot Insurance Brokers Pvt Limited.
Here are the services offered by Muthoot Finance Limited:
Digital & Cashless
Big Business Loan
Received the Skoch Financial Inclusion Award in the category of 'Access to Banking and Financial Services
Voted the most trusted finance brand in India as per the Brand Trust Report
Received the Asian Sustainability Leadership Award
Received BFSI Award for the "Most Admired Loyalty Program" at The Asian Leadership Awards held in Dubai
Received Golden Peacock Award for CSR being conferred upon Muthoot Finance Ltd
Received the Golden Peacock Award "HR Excellence which recognises the continuing commitment by business to conduct itself ethically and contribute to economic development
In 2001: It has received an RBI license acquired to function as an NBFC.
In 2005: Merger of Muthoot Enterprises Private Limited with the Muthoot finance
In 2007: RBI awards status of Systemically Important ND–NBFC
In 2008: Muthoot finance was converted into a public limited company. Fresh RBI license acquired to function as an NBFC without accepting public deposits, consequent to change in name.
In 2010: ICRA gave an ‘A1+’ rating for short-term debt of Rs 200 cr. CRISIL assigns a ‘P1+’ rating for short-term debt of Rs 400 cr. Separation of the FM radio business into Muthoot Broadcasting Private Limited.
In 2011: It launched the Western Union Money Transfer Service.
In 2013: Acquires RBI License to begin operating 9,000 White Label ATMs.
In 2015: Muthoot Finance Ltd joined hands with Yes Bank. It also launched the website for Muthoot ATMs. Muthoot Finance launched Missed Call Service to know the Gold Loan Status.
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