Muthoot Pappachan Group is setting up 400 facility centres across India as it seeks to offer a combination of manual and digital services to an estimated 50 lakh customers, it said in a release.
Those are coined as Muthoot Facility Centres (MFCs), a one-stop service centres, it said in a release.
“The customer will get an Phygital (Physical plus Digital) experience from Muthoot Blue where, MFC’s priority is to be at the doorstep of the unbanked customers in the semi urban and rural areas,” said Thomas John Muthoot, chairman – Muthoot Pappachan Group and Managing Director – Muthoot Fincorp in a release.
“This would be a very cost-effective way of reaching out to the needy informal customers,” he said.
The facility centres will be operating across various locations in India through Muthoot Infrastructure, a subsidiary of Muthoot Fincorp. Customers can visit these MFCs for availing new products, servicing of their existing products taken from any of the four MPG entities, the company said.
Muthoot FinCorp Limited (MFL) is the flagship company of Muthoot Pappachan Group (popularly known as Muthoot Blue), a systemically important non-deposit taking non-banking financial company.
The livelihood of the common man was seriously impacted due to the pandemic, said Muthoot. “During these testing times we realised that there exists a gap in reaching out to the needy,” he said.