Muthoot Fincorp Ltd., the flagship company of Muthoot Pappachan Group, is one of the largest NBFCs in India, registered with the Reserve Bank of India. Muthoot Fincorp has over 3500 branches across India with an average walk in of over 75,000 customers per day. The company has a diverse mix of retail offerings catering to the various needs of its customers including Gold Loans, Business Loans, Housing Loan, Auto Loans, Money Transfer, Foreign Exchange, Insurance Services and Wealth Management Services.
Muthoot Fincorp is a provider of mass finance in the form of gold loans. Decades of dedicated research and experience in rural strongholds have enabled the Company to provide quick and customised finance options and investment schemes for millions of customers who do not have access to mainstream commercial banks.
The Muthoot Pappachan Group, with a reputation that has been shaped over decades with high quality practices, total customer satisfaction and steady growth, spanning decades in the field of business, is a legacy built on God-given values of trust, truth, transparency and tradition and has become one of the top business houses today by the grace of God.
Muthoot takes its name from its Family, which is a branch of a traditional Orthodox Christian family, based in Kozhencherry, a small town in the erstwhile primary state of Travancore. (Kerala). In the year 1887, Muthoot Ninan Mathai (Patron Founder of the group), started in a humble way as a retail and whole-sale trader of grains at Kozhencherry. These wholesale goods were mainly supplied to the large Estates owned by British Companies. Later, understanding the unmet saving needs of the estates workers, Mr. Ninan Mathai, started the Chit Funds business on a philanthropic motive, as an avenue for saving. Initially, it was started solely for the workers, but later was floated outside the estate. The business grew slowly but steadily along with its share of ups and downs.
Functioning out of a single office in Kozhencherry, Muthoot Ninan Mathai entered the gold loan business in the 1950’s. He soon went on to become the largest player in Chits & Gold Loans. Various people across Kerala came to Kozhencherry for gold loan & chits.
The Late Muthoot Ninan Mathai had four sons, Ninan Mathew, M. George, M. Mathew and Mathew M. Thomas (Muthoot Pappachan) who were involved in the business from their childhood and later took over the family business.
Currently MPG has 20,000 employees, serving over a million customers through its close to 3500 branches across the country. MPG’s customer-centric approach and innovation in terms of new products that cater to changing customer needs, have helped in winning the loyalty of innumerable customers, as well as in attracting new ones. Adopting the latest technology and new ways to serve customers, without compromising on basic principles and ethics that it has been following since its inception, is what forms the backbone of MPG.
Muthoot Pappachan Group has grown to encompass unimaginable proportions. Armed with a commitment to society, the group set up the Muthoot Pappachan Foundation (MPF), a Public Charitable Trust - the CSR arm of MPG that has touched thousands of lives through its diverse programs. The CSR initiatives of MPG revolve around the theme HEEL, covering Health, Education, Environment and Livelihood.
MPG has established a business without boundaries, where challenges are considered stepping stones to progress. The Muthoot Pappachan Group strives to take the world forward and with perseverance, commitment and sincerity, the possibilities are infinite!