BWI: Muthoot Fincorp Joins Global Growth Companies Community of World Economic Forum

Press release from Business Wire India
Source: Muthoot Fincorp Ltd.
Monday, October 07, 2013 05:32 PM IST (12:02 PM GMT)
Editors: General: Consumer interest, Economy, People; Business: Banking & financial services, Business services, Financial Analyst, Major diversified industrial groups
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Muthoot Fincorp Joins Global Growth Companies Community of World Economic Forum


Mumbai, Maharashtra, India, Monday, October 07, 2013 -- (Business Wire India) -- Muthoot Fincorp Limited, the flagship company of the Muthoot Pappachan Group has joined the Global Growth Companies (GCCs) Community of World Economic Forum, as one of the fastest growing firms from India.

Global Growth Companies (GGCs) community of World Economic Forum comprise of 370 entities across 5 continents and from 60 countries as its current members. Global Growth Companies are fast-growing companies with clear potential to become global economic leaders based on factors like business model, growth record, leadership and are among the most influential and successful companies within their industries. As many as 45 Indian companies are in the coveted list of 370 firms.

Mr. Thomas John Muthoot, Chairman and Managing Director, Muthoot Fincorp said, "We are delighted being part of the coveted group - Global Growth Companies of World Economic Forum. Muthoot Fincorp has always believed in bringing out innovative products keeping in mind customer requirements, providing superior customer service, using the latest in technology to streamline processes as well as providing continuous learning opportunities to employees & empowering them towards meeting organization goals. Being part of this exclusive group is a reflection of our efforts and it will only push us to achieve even greater milestones."

The World Economic Forum's Community of Global Growth Companies (GGC) was formed in 2007 to engage dynamic high-growth companies with the potential to be tomorrow's industry leaders and to become a driving force of economic and social change.

About Muthoot Fincorp

Muthoot Fincorp Ltd., the flagship Company of the Muthoot Pappachan Group, is one of the leading NBFCs in India, registered with the Reserve Bank of India. Apart from gold loans, Muthoot Fincorp has a diverse mix of retail offerings catering to various needs of the customers including Money Transfer, Forex Services, Insurance & Investment advisory services. Muthoot Fincorp's long-standing experience, expertise and stronghold in the semi urban and rural areas have enabled the company to provide quick & customized finance options to the masses. Its wide network of over 3600 branches across the country also ensures easy access to its customers.

Its subsidiary, Muthoot Housing Finance Company Ltd. (MHFL), caters mainly to the housing finance requirements of customers in the middle and lower income category. The company offers housing loan to the people in the unorganized sector to make their dream of owning a home come true. Loan ticket sizes range from Rs 3 lakhs to Rs 15 lakhs.

A micro-finance offering, Muthoot Mahila Mitra (MMM) focuses on empowering women through financial inclusion. Muthoot Mahila Mitra follows the Joint Liability Group (JLG) model of micro-finance. Under this program, each individual in a JLG is offered a loan between Rs 10,000 to Rs 15,000 depending on her repayment capacity, for tenure of 52 weeks. MMM also fosters entrepreneurship skills among women and give them basic financial literacy.

Muthoot Capital Services a sister concern also offers auto loans for 2 wheelers, 3 wheelers, Nano Cars & used cars also under arrangement with Muthoot Fincorp branches.

About Muthoot Pappachan Group

Muthoot Pappachan Group is a diversified corporate conglomerate with presence in various verticals including Financial Services, Hospitality, Automotive, Real Estate & Infrastructure, IT Services, Healthcare, Precious Metals, Global Services, Alternate Energy and Entertainment. The Group has made heavy investments in the areas of technology, processes as well as people to steer growth in the right direction, in pursuit of national and global stature. With nationwide presence, tailor made products and services the Group has been able to reach out to the masses. It has a customer base of over 2 million and employee strength of over 20,000. The Group is making steady growth through all its entities and activities, consolidating its strong base and also contributing strongly to the community through scientifically coordinated CSR initiatives under the Muthoot Pappachan Foundation.

About The World Economic Forum

The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas. Incorporated as a foundation in 1971, and headquartered in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests www.weforum.org.


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KEYWORDS
CONSUMER, ECONOMY, PEOPLE, BANKING, BUSINESS SERVICES, Financial Analyst, GROUPS

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