In the year 1887, Shri Muthoot Ninan Mathai, patron founder of our Group, started the business in a humble way as a retail and whole-sale trader of grains at Kozhencherry, Kerala. These wholesale goods were mainly supplied to the large estates owned by British Companies. Subsequently, understanding the unmet saving needs of the estate workers, Shri Muthoot Ninan Mathai, started the Chit Funds business with philanthropic motive, as an avenue for saving. Functioning out of a single office in Kozhencherry, Shri 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.