Muthoot
Encyclopedia
The Muthoot Group is an 124-year-old business house based in India. It has interests in Financial Services
, Information Technology
, Media, Healthcare, Education
, Power Generation, Infrastructure
, Plantations, Precious Metals
and Hospitality
. The Muthoot Group operates in 23 states in India, and has a customer base of over 25 million. It is wholly owned and managed by the Muthoot Family
.
The Group takes its name from the Muthoot Family based in Kerala. The Company was set up by Muthoot Ninan Mathai in 1887 at Kozhencherry
, a small town in the erstwhile Kingdom of Travancore (Kerala
). It was then later taken over by his son M George Muthoot who incorporated the Finance division of the group which was until then primarily involved in wholesale of grains and timber. The company is now managed by the third and fourth generation of its family members.
The group is headquartered in Kochi, Kerala
based out of Kozhencherry
. In 1971, the firm was renamed as Muthoot Bankers, and had begun to finance loans using gold jewellery as collateral. The operations of Muthoot Bankers was then renamed and incorporated as Muthoot Finance in 2001. Muthoot Finance falls under the category of Systematically Important Non Banking Financial Company (NBFCs) of the RBI guidelines. The company has more than 3,510 branches spread across 23 states of the country and is the largest gold loan company in India.. Muthoot Finance, according to the IMaCS Research & Analytics Industry Reports [Gold Loans Market in India, 2009 (“IMaCS Industry Report 2009”) and the 2010 update to the IMaCS IndustryReport 2009 (“IMaCS Industry Report (2010 Update)”)], is the largest Gold Loan NBFC and has the largest network of branches for a Gold Loan NBFC in India.. Muthoot Finance is also the highest credit rated Gold Loan company in India, with a credit rating of AA- (CRISIL
) and LAA-(ICRA
) for its Long Term Debts and P1+ (CRISIL
) & A1+ (ICRA
) for its Short Term Debt Instruments.
‘Muthoot Gold Power’ is the lifestyle product of Muthoot Finance aimed at mobilizing the Household gold in India which is estimated to be more than 15000 tonnes. Muthoot Finance according to its company website has "the largest gold loan portfolio in the country". Muthoot also provides various financial services such as Insurance distribution, Wealth Management, Foreign Exchange, Money Transfer and Vehicle & Asset Finance. Muthoot Finance was selected as one of the Top 10 Finance companies to work for in India by Naukri.com
Muthoot Finance privately placed 4% of its paid up capital to Private Equity players - Barings India and Matrix Partners
India for Rs.1.57 billion, hence valuing the earlier privately held company at over $1 billion.
In terms of market capitalisation, Muthoot Finance is the second largest company in Kerala, first being Federal Bank
.
Emsyne offers on site and offshore services, whether project-based outsourcing / assignments, or based on time and materials.
The Core Products of Emsyne are
Edge - Educational Institutions Management System
Finex - Innovative Banking Automation System
.
(Kerala) and also operates 12 houseboats in the backwaters of Kerala under the brand Muthoot River Escapes.
Kaapi Club is a chain of South Indian coffee outlets managed by Muthoot Hotels.
Muthoot Hotels is in the process of constructing a 5 star luxury hotel in the city of Kochi and 5 star beach resort in Mararikulam.
business, the group has acquired 1000 acres of land in Sawantvadi
, Maharashtra
as a pilot planting of rubber
.
Set up in memory of the Late M. George Muthoot, the Foundation has been extending financial aid for its employees as part of the Staff Welfare measures.
Every branch of The Muthoot Group is actively involved in Community Development and Social Welfare. The Muthoot Foundation frequently grants medical and financial aid to deserving individuals through its welfare programs.
Community support is a corporate responsibility. The Muthoot Group maintains its position as a valued and responsible corporate citizen by enhancing the quality of life in the communities where they do business. It is very important for a corporate to support the community in which it operates.
The Muthoot M. George Charitable Foundation is approached by numerous organizations and individuals requesting financial and medical assistance.
Muthoot Medical Centers at Kozhencherry and Pathanamthitta are super specialty hospitals set up in the rural areas of Kozhencherry and Pathanamthitta. They are both organizations established in 1989.
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
, Information Technology
Information technology
Information technology is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications...
, Media, Healthcare, Education
Education
Education in its broadest, general sense is the means through which the aims and habits of a group of people lives on from one generation to the next. Generally, it occurs through any experience that has a formative effect on the way one thinks, feels, or acts...
, Power Generation, Infrastructure
Infrastructure
Infrastructure is basic physical and organizational structures needed for the operation of a society or enterprise, or the services and facilities necessary for an economy to function...
, Plantations, Precious Metals
Precious metal
A precious metal is a rare, naturally occurring metallic chemical element of high economic value.Chemically, the precious metals are less reactive than most elements, have high lustre, are softer or more ductile, and have higher melting points than other metals...
and Hospitality
Hospitality
Hospitality is the relationship between guest and host, or the act or practice of being hospitable. Specifically, this includes the reception and entertainment of guests, visitors, or strangers, resorts, membership clubs, conventions, attractions, special events, and other services for travelers...
. The Muthoot Group operates in 23 states in India, and has a customer base of over 25 million. It is wholly owned and managed by the Muthoot Family
Muthoot Family
The Muthoot family is one of the foremost business houses in South India. The family has interests in various sectors of business varying from Financial Services to Media. The founder of the Muthoot Group was Ninan Mathai Muthoot, from whom the business house was later taken over by his son, M....
.
The Group takes its name from the Muthoot Family based in Kerala. The Company was set up by Muthoot Ninan Mathai in 1887 at Kozhencherry
Kozhencherry
Kozhencherry is a small town in Pathanamthitta district of Central Travancore region in Kerala state, South India. It is on the banks of river Pampa. It is a commercial centre with many of the Banks and trade companies have their establishments here. It is believed that once the Kovilans of...
, a small town in the erstwhile Kingdom of Travancore (Kerala
Kerala
or Keralam is an Indian state located on the Malabar coast of south-west India. It was created on 1 November 1956 by the States Reorganisation Act by combining various Malayalam speaking regions....
). It was then later taken over by his son M George Muthoot who incorporated the Finance division of the group which was until then primarily involved in wholesale of grains and timber. The company is now managed by the third and fourth generation of its family members.
The group is headquartered in Kochi, Kerala
Kerala
or Keralam is an Indian state located on the Malabar coast of south-west India. It was created on 1 November 1956 by the States Reorganisation Act by combining various Malayalam speaking regions....
Finance
The origins of Muthoot Finance can be traced back to 1939 when [M.George Muthoot] ventured into financial services through a partnership firm under the name of Muthoot M. George & Brothers (MMG). MMG was a Chit FundChit Fund
A Chit fund is a kind of savings scheme practiced in India. A Chit fund company means a company managing, conducting or supervising, as foremen, agent or in any other capacity, chits as defined in Section 2 of the Chit Funds Act, 1982...
based out of Kozhencherry
Kozhencherry
Kozhencherry is a small town in Pathanamthitta district of Central Travancore region in Kerala state, South India. It is on the banks of river Pampa. It is a commercial centre with many of the Banks and trade companies have their establishments here. It is believed that once the Kovilans of...
. In 1971, the firm was renamed as Muthoot Bankers, and had begun to finance loans using gold jewellery as collateral. The operations of Muthoot Bankers was then renamed and incorporated as Muthoot Finance in 2001. Muthoot Finance falls under the category of Systematically Important Non Banking Financial Company (NBFCs) of the RBI guidelines. The company has more than 3,510 branches spread across 23 states of the country and is the largest gold loan company in India.. Muthoot Finance, according to the IMaCS Research & Analytics Industry Reports [Gold Loans Market in India, 2009 (“IMaCS Industry Report 2009”) and the 2010 update to the IMaCS IndustryReport 2009 (“IMaCS Industry Report (2010 Update)”)], is the largest Gold Loan NBFC and has the largest network of branches for a Gold Loan NBFC in India.. Muthoot Finance is also the highest credit rated Gold Loan company in India, with a credit rating of AA- (CRISIL
CRISIL
Credit Rating and Information Services of India Ltd. a global analytical company providing ratings, research, and risk and policy advisory services....
) and LAA-(ICRA
ICRA
ICRA can refer to:* ICRA Limited, an Indian credit ratings agency* Indian Civil Rights Act of 1968, a United States Act regarding civil rights of American Indians/Native Americans...
) for its Long Term Debts and P1+ (CRISIL
CRISIL
Credit Rating and Information Services of India Ltd. a global analytical company providing ratings, research, and risk and policy advisory services....
) & A1+ (ICRA
ICRA
ICRA can refer to:* ICRA Limited, an Indian credit ratings agency* Indian Civil Rights Act of 1968, a United States Act regarding civil rights of American Indians/Native Americans...
) for its Short Term Debt Instruments.
‘Muthoot Gold Power’ is the lifestyle product of Muthoot Finance aimed at mobilizing the Household gold in India which is estimated to be more than 15000 tonnes. Muthoot Finance according to its company website has "the largest gold loan portfolio in the country". Muthoot also provides various financial services such as Insurance distribution, Wealth Management, Foreign Exchange, Money Transfer and Vehicle & Asset Finance. Muthoot Finance was selected as one of the Top 10 Finance companies to work for in India by Naukri.com
Muthoot Finance privately placed 4% of its paid up capital to Private Equity players - Barings India and Matrix Partners
Matrix Partners
Matrix Partners is a US based private equity investment firm focusing on venture capital investments. The firm invests in seed and early stage companies in the United States and India, particularly in the software, communications, semiconductors, data storage, Internet or wireless sectors.The firm...
India for Rs.1.57 billion, hence valuing the earlier privately held company at over $1 billion.
In terms of market capitalisation, Muthoot Finance is the second largest company in Kerala, first being Federal Bank
Federal Bank
Federal Bank Limited is a major Indian commercial bank in the private sector, headquartered at Aluva, Kochi, Kerala. As of March 31 2011 it has 743 branches spread across 24 states in India and 803 ATMs around the country.-History:In the year 1931, Travancore Federal Bank was inaugurated at...
.
Information technology
Emsyne, the information technology wing of the group develops products for the service, education and healthcare industry.Emsyne offers on site and offshore services, whether project-based outsourcing / assignments, or based on time and materials.
The Core Products of Emsyne are
Edge - Educational Institutions Management System
Finex - Innovative Banking Automation System
Media
Chennai Live 104.8 is India's first talk radio FM station. The station would be focusing on knowledge centric and local content and will be targeting the information and entertainment needs of Chennai's intelligent community.Healthcare
The Group operates several Diagnostic & Scan centers throughout Kerala and 2 multi-specialty hospitals in Kozhencherry and PathanamthittaPathanamthitta
Pathanamthitta is a large town and a municipality situated in the central Travancore region in the state of Kerala, south India, spread over an area of 23.50 km2. It is the administrative capital of Pathanamthitta district. The city has a population of 38,000...
.
Hotels & hospitality
Muthoot Hotels operates a 4 star resort in ThekkadyThekkady
Thekkady is the location of the Periyar National Park, which is an important tourist attraction in the Kerala state of India.- Overview :...
(Kerala) and also operates 12 houseboats in the backwaters of Kerala under the brand Muthoot River Escapes.
Kaapi Club is a chain of South Indian coffee outlets managed by Muthoot Hotels.
Muthoot Hotels is in the process of constructing a 5 star luxury hotel in the city of Kochi and 5 star beach resort in Mararikulam.
Housing & infrastructure
The projects of Muthoot Builders are primarily situated in central and south Kerala, Muthoot has a track record of more than 30 completed projects including commercial and residential spaces.Other divisions
Muthoot has interests in Power Generation through windmill farms in the state of Tamil Nadu. The group also manages a school in New Delhi and 2 Nursing Colleges in Kerala. In the year 2008 the group re-entered the plantationPlantation
A plantation is a long artificially established forest, farm or estate, where crops are grown for sale, often in distant markets rather than for local on-site consumption...
business, the group has acquired 1000 acres of land in Sawantvadi
Sawantvadi
Sawantwadi / is a taluka in the Sindhudurg district in the Indian state of Maharashtra. Sawantwadi has a municipal council, which is a local civic body...
, Maharashtra
Maharashtra
Maharashtra is a state located in India. It is the second most populous after Uttar Pradesh and third largest state by area in India...
as a pilot planting of rubber
Rubber
Natural rubber, also called India rubber or caoutchouc, is an elastomer that was originally derived from latex, a milky colloid produced by some plants. The plants would be ‘tapped’, that is, an incision made into the bark of the tree and the sticky, milk colored latex sap collected and refined...
.
Philanthropy
Muthoot M George Charity FoundationSet up in memory of the Late M. George Muthoot, the Foundation has been extending financial aid for its employees as part of the Staff Welfare measures.
Every branch of The Muthoot Group is actively involved in Community Development and Social Welfare. The Muthoot Foundation frequently grants medical and financial aid to deserving individuals through its welfare programs.
Community support is a corporate responsibility. The Muthoot Group maintains its position as a valued and responsible corporate citizen by enhancing the quality of life in the communities where they do business. It is very important for a corporate to support the community in which it operates.
The Muthoot M. George Charitable Foundation is approached by numerous organizations and individuals requesting financial and medical assistance.
Muthoot Medical Centers at Kozhencherry and Pathanamthitta are super specialty hospitals set up in the rural areas of Kozhencherry and Pathanamthitta. They are both organizations established in 1989.
Environment research foundation
The Periyar Foundation set up by Muthoot Hotels is based in the town of Thekkady, near the Periyar National Park has undertaken several projects for the conservation of the national park including 'vasantha sena' and a research study along with the National Institute of Advance Studies for the conservation of 'Nocturnal Flying Squirrels'.See also
- Muthoot FamilyMuthoot FamilyThe Muthoot family is one of the foremost business houses in South India. The family has interests in various sectors of business varying from Financial Services to Media. The founder of the Muthoot Group was Ninan Mathai Muthoot, from whom the business house was later taken over by his son, M....
- M George Muthoot
- M G George Muthoot
- George Alexander MuthootGeorge Alexander MuthootGeorge Alexander Muthoot is an Indian entrepreneur and businessman, he is currently the Managing Director of the Muthoot Group, a business conglomerate in India...