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| AT A GLANCE |
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| Express 3 Minute Gold Loan |
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| Gold loans at express speed. |
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| Smart + Gold Loan |
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| Avail a gold loan...Repay in instalments |
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| Hospitality |
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| Enjoy the unparalleled Muthoot hospitality. |
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| Swarnavarsham |
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| Swarnavarsham.... a secure, convenient means of buying gold. |
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| Yamaha Bike |
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| An array of the coolest machines with attractive two wheeler loan facility. |
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| Honda Bikes & Scooters |
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| A range of bikes and scooters from the Honda stable. |
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| Technopolis |
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| Kerala’s most prestigious address for businesses. |
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| News & Events |
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Muthoot Fincorp co-sponsors the 14th Asianet Film Awards
Muthoot Fincorp Limited was the cosponsor for the 14th Asianet Film Awards held in Dubai. The star studded award ceremony was attended by a 20000 strong audience from across the GCC.
Mr. George Lamannil , Executive Director & General Counsel - MPG and Suhas Soman, CEO- MFL presented awards on behalf of the group for Best Film and Best Music Director. The film fraternities of Malayalam, Hindi and Tamil were well represented by movie stars, directors, singers and songwriters. 'King Khan'- Shah Rukh Khan stole the show.
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Felicitation to Sreesanth
19 Nov 2011
Ms. Remy Muthoot, Director, Muthoot Pappachan Group presents a memento to India's world cup star, Sreesanth, on behalf of Muthoot Pappachan Group and the Ernakulam Cricket Club at the Club day celebrations of Ernakulam Cricket Club on 19.11.2011 held at IMA hall, Ernakulam.
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Muthoot Capital Services Ltd opts for postal ballot
The board of directors of Muthoot Capital Services Ltd, in a meeting on 5th Sep
2011, decided to opt for a postal ballot to pass a resolution seeking consent of
the members to increase the borrowing powers of the Board of Directors to a
sum not exceeding Rs 500 crores over and above the aggregate of paid up
capital of the company and its free reserves at any time. The company also
appointed a Scrutiniser to conduct the postal ballot process in a fair and
transparent manner. The results have been published and can be viewed at
http://www.muthootcap.com/pdf/postal_ballot_result.pdf
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Muthoot Pappachan Group gears up for Formula One
The Muthoot Pappachan Group is proud to be associated with the MRF Formula 1600 race which is to be run concurrently with the India leg of the Formula One Grand Prix on 28th to 30th, October 2011. MPG is the title sponsor of two cars from the M&N racing stable. Gaurav Gill, India's leading rally driver along with South Indian rally sensation Arjun Bala will be painting the track blue in cars bearing MPG's characteristic blue colours.
Twenty drivers, both national and international, will engage in a test of skill and perfection on tracks in Delhi this weekend driving the MRF 1600, a single seater formula car having a Van Damien designed chassis with a 1.6 litre Ford Duratec engine.
Catch the action on our facebook page: http://www.facebook.com/muthootmpg
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Puducherry moves toward good health
Muthoot Micro Fin, the micro finance wing of the Muthoot Pappachan Group in association with Sri Lakshmi Narayana Institute of Medical Sciences & Hospital (SLIMS) conducted a medical camp on the 8th of October 2011 in Puducherry.
Free consultation, medication and further referrals to the hospital were given to more than 250 patients of various age groups. Doctors from various disciplines examined the patients. An awareness of basic hygiene and root causes of the spread of infections and their prevention was imparted to all those who attended the camp.
The camp was inaugurated by Thiru. N. Rangaswamy, the Hon'ble Chief Minister. Thiru. Nehru, Govt. Whip – Puducherry. Mr. Jayachandran , Vice President, Muthoot Fincorp Ltd., Mr. Rajkumar, Divisional Manager, Muthoot Mahila Mitra and Mr. Buhari, Area Manager were present at the inauguration. The camp was organised by Mr. K. Cadiravane, Branch Manager, Muthoot Micro Fin, Puducherry and his team.
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Muthoot Fincorp spreads its wings to the Pink city
Jaipur, October 3, 2011
Muthoot Fincorp Limited, the flagship company of the Muthoot Pappachan Group, today took yet another significant step, announcing its entry into Rajasthan by setting up five branches in Jaipur. In North India, it already has a presence in Delhi, Chandigarh, UP, Haryana & Punjab .Chairman and Managing Director, Mr. Thomas John Muthoot, speaking on behalf of the Muthoot Pappachan Group on the occasion said: "Rajasthan, popularly known as the Incredible State of India, is an equally major market for us and we plan to set up 50 branches spread across Jaipur, Alwar, Beawar, Barmer, Kota, Ajmer, Jodhpur, Udaipur, Pali & Bikaner by March 2012." "Over 30% of our Gold Loans are availed in western and northern India and this number is steadily rising" Mr Muthoot said, adding "Rajasthan will be a major contributor."
Muthoot Fincorp will offer a bouquet of products & services to its customers in Rajasthan including - Express 3 Minute Gold Loan, a product designed to meet the quick need for liquidity, Smart + Gold Loan, where the customer can repay a gold loan in easy monthly instalments and Swarnavarsham, a loan scheme in which the customer can purchase gold in easy instalments. The Group's popular 2 and 3 wheeler financing schemes & the housing finance product primarily targeting the lower to middle income segment will also be launched soon.
"We believe Rajasthan has huge potential and would be one of the key states for us in North India, going forward. We have big plans for Rajasthan and shall employ 200 people in the state by March 2012" Mr Muthoot said.
"We are focused on taking our products and services into the farthest corners of the country and are well aware that a customer comes to us when he has a need and he is looking for quick, efficient & hassle free service. Our products are designed keeping the customer's interest and requirement in mind," Mr Muthoot added.
The 5 branches of Muthoot Fincorp in Jaipur will be located at Rajapark, Mansarovar, Mahesh Nagar, Khatipura Road and Vidhyadhar Nagar.
"We will have 2,000 branches across the country by March 2012," Mr Muthoot said.
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Muthoot Housing Finance in association with Griha Pravesh conducts first Parivaar Pragati seminar
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Muthoot Fincorp ties up with Xpress Money
Muthoot Fincorp in its tie up with Xpress Money will through offer express money services through its 1300 branches. This strategic alliance between both companies that are involved in financial services for decades provides NRI's a quick and easy alternative for money transfers.
read more »
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Muthoot Housing Finance Company Sanctions its First Low-Income Housing Loan
Muthoot Housing Finance Company Limited, the low income housing finance arm of the Muthoot Pappachan Group, has recently sanctioned its first loan to Sunil Channa, an Ahmedabad based...
read more »
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Hand in hand with NABARD in empowering women
22 Aug 2011
Muthoot Pappachan Group, ACCION International, NABARD and ROPE have entered into a strategic partnership to promote women entrepreneurs. A unique 'Skill Development Initiative' programme was launched across five districts of Kerala, where the Muthoot Pappachan Group, ACCION and NABARD will jointly organise a three month training programme for 200 women entrepreneurs. The women from Trivandrum, Ernakulam, Thrissur, Alappuzha and Palakkad will be trained in essential vocational and business skills such as ECO-PAC, handmade and paper bags; ECO-style banana fiber products, jute products and dry flowers. Courses such as screen printing and embroidery will also be taught under this programme.
Products manufactured by women entrepreneurs under this partnership, will be acquired by ROPE through a buy-back option and supplied to international as well as Indian retail chains including FABINDIA.ROPE is a global supplier of home decor and lifestyle products for international retailers and buyers, enabling marketing of products made by women entrepreneurs in international markets.
The training program was inaugurated in Trivandrum by Shri. K.C. Shashidhar, Chief General Manager, NABARD in the presence of Shri. Thomas John Muthoot, Chairman & Managing Director, Muthoot Pappachan Group; Shri. Thomas Muthoot, Executive Director, Muthoot Pappachan Group; Dr. Usha Gopinath, Director-Client Education, ACCION India; Shri. N.N. Sreejith, Managing Director, ROPE and Shri. Sadaf Sayeed, Chief Operating Officer, Muthoot Micro Finance.
Announcing the partnership, Shri K.C Shashidhar, Chief General Manager, NABARD said, "NABARD has always been committed to a sustainable rural development. We are happy to be partnering with Muthoot Pappachan Foundation and ACCION who have been very active in this field. We need more institutions to take up social development issues and make a positive contribution to society."
Thomas Muthoot, Executive Director, Muthoot Pappachan Group, said, "We are committed to the cause of empowering women from under-privileged and economically poor sections of society. We started this journey with our Sthreejyoti Training Programme joining hands with ACCION that has already trained more than 16,000 women till date. We are happy to be taking our partnership to a larger platform with NABARD & ROPE and open out international markets for these entrepreneurs."
Dr. Usha Gopinath, Director, ACCION-Client Education said, "Women today have moved beyond the traditional activities of tailoring and pickle making. ACCION using its global experience of entrepreneurial training in the last 50 years has brought about skill training and market linkages to support women entrepreneurs. Through our partnership with Muthoot Pappachan Group, NABARD and ROPE are ambitious in bringing about a change in the lives of millions of entrepreneurs in the next few years creating replicable models that are scalable and sustainable".
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Impacting lives at the grassroots
02 Aug 2011
A look through the window of ACCION's Dialogue on Business, in partnership with Muthoot Pappachan Group, on making a direct impact on the lives of women at grassroot levels. An excerpt from ACCION's blog.
Click here to view blog.
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Spreading good health
24 July 2011
Participants of Muthoot Mahila Mitra were treated to a Free Medical Camp in coordination with PSG Hospitals, Coimbatore. 233 participants from Coimbatore and Karumathampetty attended the medical camp which was held at Sree Lakshmi Mahal, Kannampalayam, Coimbatore.
The camp consisted of a Child Clinic, General Clinic, Medical Clinic, BP Check up and Gynaecology Clinic. All patients who attended were given a thorough check up and references for further treatment where necessary. The medical camp was inaugurated by the Chief Guest Dr. Jeeva, Sr. Gynaecologist, PSG Hospital. Mr. Raja Ramprasad, Manager – Infrastructure & Administration, MFL Tamil Nadu officiated at the closing ceremony.
The high turnout of MMM participants and their active involvement made the event a success.
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Thomas John Muthoot attends business reception hosted by New Zealand Consulate
June 2011
Mr Thomas John Muthoot, CMD, Muthoot Pappachan Group attends business reception hosted by the New Zealand Consulate during the visit of New Zealand Prime Minister Rt. Hon. John Key in June 2011.
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John Muthoot (extreme left) and
Rt. Hon. John Keys (extreme right) |
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Muthoot Honda celebrates World Environment Day
01 June 2011
Muthoot Honda, as part of its social responsibility, conducted an environment conservation awareness drive at the Govt. High School, Edapally, Cochin. The children were taught various ways in which to nurture the planet.
The importance of planting trees, saving water and other green measures were instilled in the children.To set an example, a sapling was planted by the school principal on the premises. A quiz on environment was also conducted. Prizes were distributed to the winners.
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The Honda CBR 250R has finally arrived..
30 May 2011
Muthoot Honda delivered the first Honda CBR 250R from its Pathanamthitta showroom in Central Kerala.
Municipal Chairman, Adv. Suresh Kumar performed the honours by handing over the key to proud owner Mr. Bivin Vijay.
Honda CBR250R is currently one of the best looking bikes in India,. Its styling expresses an originality that is signature to the Honda stable and appreciated globally. It incorporates distinctive features that are key to every Honda sports bike.
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Demand for gold to rise
Akshaya Trithiya, which ranks as one of the most important festivals in the Indian calendar, falls on May 6 this year.
Considered to be one of the most auspicious periods to buy gold, Indians believe that this tradition which has been followed over centuries brings a family prosperity and good fortune.
Ajay Mitra, Managing Director, India and Middle East, World Gold Council said, “Gold has been a time- tested secure asset class and for any investor it is one of the best performing assets. Indians have always had an affinity towards gold and with time gold has transformed itself to becoming an integral part of every locker.”
The World Gold Council in association with Muthoot Fincorp from the Muthoot Pappachan Group is organising a promotion for “Swarna Varsham” ........(Read more)
WGC PARTNERS MUTHOOT, OTHERS FOR 'AKSHAYA TRITHIYA'
- www.indianexpress.com
WGC CONJURES UP NEW INITIATIVES TO CATER TO GOLD DEMAND AS AKSHAYA TRITHIYA NEARS - www.indiainfoline.com
WGC PARTNERS WITH VARIOUS ASSOCIATES FOR AKSHAYA TRITHIYA - www.moneycontrol.com
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Muthoot Capital Services Limited net profit up 34.75%
The audited financial results of Muthoot Capital Services Limited for the year ended 31st March, 2011
reveal substantially higher performance compared to the corresponding period last year .
The net profit of the Company increased from Rs.717.28 lakhs to Rs.966.55 lakhs,
an impressive growth of 34.75% over last year . The total Income of the Company registered a growth of 67.87%, from 2247.56 lakhs during the previous year to 3772.92 lakhs in the current year. Commensurate with the increase in operations, the interest expenses increased by 67.30% to
Rs 1157.07 lakhs from Rs. 691.61 lakhs in the last year. On account of the substantial increase in manpower and infrastructure to support the enhanced level of activities, the operational expenses during the corresponding period recorded an increase of 139.08 %, from Rs. 456.93 lakhs to Rs. 1092.44 lakhs. The profit before tax recorded a jump of 33.40% from Rs. 1087.42 lakhs in the previous year to Rs. 1450.61 lakhs during the year ended 31st March 2011.
During the quarter ended 31st March 2011, the net profit increased to Rs.267.90 lakhs, from
Rs. 206.14 lakhs compared to the corresponding quarter in the previous year, recording a growth of 29.96%. The total Income for the Company increased to Rs. 1153.62 lakhs during the quarter ended 31.03.2011 from Rs.662.29 lakhs during the corresponding period last year, registering a growth of 74.19%. The profit before tax during the corresponding period increased by 28.64% from Rs. 313.71 lakhs to Rs.403.57 lakhs.
The Company has been expanding the activities in across south Indian states and Goa ,under the Automobile finance segment, mainly two wheeler financing. The Company was able to disburse 35123 loans in the year 2010-2011 amounting to Rs 138.35 crores. The outstanding loan amount increase from Rs 39.99 crores as on 31-03-2010 to Rs 129.79 crores as on 31-03-2011, with a delinquency ratio of only 0.18% as on 31-03-2011, is the lowest in the industry.
The Company is introducing innovative products under the Automobile Finance Segment. Through the Smart Plus Auto Loan, the full cost price of the vehicle is given as loan, enabling the borrowers to leverage their gold ornaments against the margin requirement. The Company expects very good response to this product from the market.
Another innovative product to be introduced by the Company in the near future is loan against Gold Exchange Traded Funds (ETF). The Gold ETFs are securities issued by Asset Management Companies against 995 purity gold kept by them with depositaries. The securities are in dematerialised form, easily transferable, easily encashable and are traded in stock exchanges. By introducing this product, the Company will be putting to use the Group’s core competence in granting loan against gold, to provide liquidity for investors in ETF thereby promoting the popularity of ETF.
“The Company continues to focus on providing value creation for all the stakeholders namely the staff, shareholders and above all the customers, by providing financial services solutions suiting the market needs, upholding the highest values in professional management” said Mr.Thomas George Muthoot, Managing Director.
“The Company is committed to meeting the needs of the market under Automobile finance sector and its aiming to become the leading player in the segment in South India by March 2013” said Mr. R. Manomohanan, Chief Executive Officer.
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Muthoot Pappachan Group forays into the Housing Finance Business.
Mumbai, 29 March, 2011.
Kerala based Muthoot Pappachan Group (MPG), one of the leading business houses in South India, today announced its entry into the housing finance segment, post securing its license from National Housing Bank (NHB). The group has its presence in Financial Services, Hospitality, IT Infrastructure, Automotive, Property & Alternate Energy. Presently, the Muthoot Pappachan Group has an annual turnover of over Rs. 20,000 crore and a customer base of over 10 lakh.
The new venture, Muthoot Housing Finance Limited will be a subsidiary of the flagship company Muthoot Fincrop Limited (MFL). The group plans to invest around Rs.100 crore over the next two years in this venture. The new entity would primarily target the low to middle income housing finance segment and aim to disburse small-ticket loans. In the initial phase, the group intends to roll-out branch offices in large urban centers like Mumbai, Chennai, Bengaluru & Ahmedabad.
Muthoot Housing Finance Limited will leverage on the group’s wide geographic footprint, established field experience with informal customer base across geographies and professions as well as its multi pronged credit assessment capabilities across different product lines.
Elaborating on the subject, Mr. Thomas Muthoot, Executive Director, Muthoot Pappachan Group said, "Muthoot Housing Finance Limited is in line with our group’s long-term expansion strategy. We see immense scope in the home loan market, especially in the low income segment. The idea is to be a facilitator to every Indian’s dream of owning a house.”
"The objective is to tap the opportunity in the middle and low income segment, which is yet to be explored fully. We are looking at customers in the informal segment who have a monthly income in the range of Rs 10,000-Rs 30,000 & an average loan size of Rs. 3 lakhs to Rs. 10 lakhs," added Mr Maneesh Srivastava, CEO Muthoot Housing Finance Limited.
Muthoot Housing Finance Company would be headquartered in Mumbai . It plans to start operations by May 2011 and would open 25 branches in the coming financial year. Given the huge demand for housing in the middle to low income segment and the paucity of organized sector finance for informal sector customers, this business offers a huge opportunity and at the same time serves to fulfill a social objective, which the Muthoot Pappachan Group is committed to in all its businesses.
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Range Rover Evoque wins Car Design of the Year , set to hit India in early 2012
The Range Rover Evoque has won best production car in the 2010 Car Design
News, Car Design of the Year awards. This highly regarded accolade is the
first major international award for the Range Rover Evoque, which is already
shaping up to be the most exciting car of 2011.
The Evoque beat competition
from the Alfa Romeo Giulietta and the Audi A7 to take top honours by a
considerable margin. Significantly, the Car Design of the Year Award
represents the opinions of automotive designers, including a number of
leading industry Design Directors who sit on the judging panel ....
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The 5th Muthoot Pappachan T 20 Cricket Tournament organised by Muthoot ECC
The 5th Muthoot Pappachan T 20 Cricket Tournament organised by Muthoot ECC, has commenced on 14th March at the BPCL – Kochi Refinery Ground, Ambalamugal. The prestigious second phase will start on 20th March at the historic Palace Oval, Tripunithura. 20 illustrious teams pitched across 4 pools are vying for the trophy . The semi finals will be held on 27th March at 9.00 am and 12.00 pm and the Finals on 27th March at 9.00 am. The T 20 Tournament is being conducted under the aegis of the MPG Sports Academy Pvt. Ltd., a part of the Muthoot Pappachan Group.
"The T20 tournament has entered its Fifth year and to make it more attractive, the second phase of the tournament will be played with Coloured clothing, White Balls and all other attractions of a T20 Cricket match," said Thomas Muthoot, Executive Director, Muthoot Pappachan Group.
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Muthoot Fincorp Inaugurates its Zonal Office in Chennai
Muthoot Fincorp Ltd, one of the leading Gold Loan companies in the country, is in an expansion mode this year. Keeping in line with the company’s strategy to strengthen its presence in South India, Muthoot Fincorp Ltd has today inaugurated its Zonal Office in Chennai.
Speaking on its increasing presence in the region, Mr. Thomas John Muthoot, Chairman Muthoot Pappachan Group of companies said, “The Company wants to be as close to its customers as possible and wants to ensure complete customer convenience and delight. We felt the need to strengthen our base and increase the depth in southindia, because of its growing potential and hence expansion is an obvious choice.”
With the launch of the Zonal Office, Muthoot Fincorp Ltd’s presence will be further strengthened strategically. Tamil Nadu has currently 328 branch locations. Nationally Muthoot Fincorp Ltd Insurance covers over 1223 cities and towns through its offices, and has over 12 lakh satisfied customers.
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Successful show by MPG Sthreejyoti entrepreneurs on Women’s Day.
Bengaluru, Trivandrum, Cochin, Chennai, Coimbatore, Women’s Day 8th March:
Muthoot Pappachan Group’s Sthreejyoti, the grassroot level women entrepreneur development programme in partnership with ACCION, held a unique exhibition and sale of products in four key cities in South India on Women’s Day. The event showcased products developed and manufactured by women entrepreneurs who were trained in management skills and supported by MPG. Sthreejyoti was launched in early 2010, and has quickly spread its activity throughout South India. Over 7,400 aspiring women entrepreneurs have been so far trained, touched and promoted by the activities. The programme also provides financial assistance in the form of Muthoot Mahila Mitra loans to the women entrepreneurs. MPG Sthreejyoti assists these women throughout the life of the product and entrepreneur in terms of marketing support, financial assistance and financial education and savings in the form of the Swarnvarsham gold ownership scheme. The Sthreejyoti programme is conceptualized and mentored by Thomas Muthoot, Executive Director of MPG.
Bengaluru
It was a treat so see women smiling when chief guest Chenraj R. Jain, Chairman, Jain Group of Institutions, called all the women entrepreneurs present to light the lamp, breaking protocol. Mr. Jain’s personal interaction with the Sthreejyoti entrepreneurs set the pace for a successful event. The Sthreejyoti entrepreneur team transacted sales to the tune of Rs.90,000 from handicrafts, ready-to-eat food products, condiments, ready-to-mix powders, garments and jewellery.
Thanks to the efforts of Dr. Usha Gopinath of ACCION, the Jain Group of Institutions graciously provided space and facilities for the event organized by MPG Sthreejyoti. Yashasvini Ramaswamy, recipient of the award for 'emerging future world leader' by GIFT, an initiative supported by the Clinton Global initiative, was the guest speaker. Ms. Yashasvini is a renowned world expert in development projects.
Trivandrum
In Trivandrum, Chief General Manager of NABARD, K. C. Shashidhar and Chairman & Managing Director of MPG, Thomas John Muthoot, inaugurated the programme. Thirty six women entrepreneurs exhibited their products. The exhibition was arranged at Muthoot Fincorp’s new, state-of-the-art Kesavadasapuram Branch. Due to the prominent location of the branch the event captured public attention, with many walking into the stalls, as a result of which there was brisk sales.
The exhibition continued well past the closing time of 7pm. Around 70% of the products displayed by the women entrepreneurs were snapped up by the public halfway through the exhibition.
Cochin
The Cochin chapter of the Women’s Day exhibition and sale received tremendous support from both Sthreejyoti entrepreneurs and the public. Sadaf Sayeed, COO of Microfinance at MPG launched the event. 40 percent of MPG Sthreejyoti entrepreneur products were sold out by noon during the event. The Muthoot Mahila Mitra and Sthreejyoti teams planned and ensured a well-oiled machinery for the Sthreejyoti entrepreneurs. Several walk-in members of the public were present at the exhibition and sale throughout the day.
Chennai
The Chennai exhibition and sale was inaugurated by Mary L., Ward Councilor of the Chennai Corporation. A women’s development activist in her own right, the Sthreejyoti entrepreneurs were encouraged by her presence. Twenty three women entrepreneurs exhibited their products. More than 150 MMM team visited the stall. The MLA of the constituency, Ranganathan B. was present for the valedictory function.
Coimbatore
The PSG College was the venue of the Women's Day exhibition and sale conducted by MPG for its Sthreejyoti entrepreneurs. A total of 96 women entrepreneurs participated in the activity with the support of 40 Muthoot Mahila Mitra personnel and 60 volunteers of PSG College. Chandra Sekharan, Internal Coordinator, Department of Textile Technology, PSG College, inaugurated the event. Due to the success of the Women’s Day programme, another major exhibition cum sale of products developed and manufactured by Sthreejyoti entrepreneurs is proposed to be conducted at the PSG campus by end of March 2011.
Summarising the Women’s Day activities for MPG Sthreejyoti entrepreneurs, George Muthoot, Director, Muthoot Pappachan Group said: “MPG is passionate about building the latent creativity, capability and entrepreneurial spirit of India’s women at the grassroots. Thomas Muthoot, Executive Director and Sthreejyoti Mentor, adds: "Women are our future, as proven by successful ones at the highest levels in today’s corporate world. Women at the bottom of the pyramid need to be given the opportunity too. Here is where the MPG Sthreejyoti programme is delivering exhilarating results."
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New Zealand Consul General visits Muthoot Pappachan Group
New Zealand Consul General and Trade Commissioner to India, Mr. Gavin Young, paid a
courtesy visit to the headquarters of Muthoot Pappachan Group in Trivandrum yesterday.
A meeting was held with Muthoot Pappachan Group’s Chairman and Managing Director,
Mr. Thomas John Muthoot. Discussions focused on investments in New Zealand by
India-based business enterprises and areas of probable exchange of expertise between the
two countries.
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Bookings open for the new Honda CBR250R.
Deliveries to start April 2011.
Muthoot Honda has launched bookings for the new CBR250R. The CBR250R will have the largest engine displacement of any vehicle produced by Honda Motorcycle and Scooter India. Developed from the renowned CBR pedigree, the new model will be the first full-fledged road sports two-wheeler to be manufactured in India. The CBR250R is a global model for export to a wide range of countries such as the ASEAN countries, Japan, Europe, North America, and Australia. In Japan, the CBR250R is scheduled to begin sales in the spring of 2011, coinciding with the India launch, underscoring the importance of the India market.
The CBR250R is tentatively priced at Rs1.5 lakhs and, with the ABS option at Rs1.8 lakhs. Final pricing will be released in March or April 2011. Bookings may be made by contacting Mr. Manoj Nayak (Cochin) at 9447091832, email: sales@muthoothonda.com or Mr. Aju Mathew (Pathanamthitta) at 9446001152, email: pta@muthoothonda.com. The amount to be deposited on booking is Rs5000.
Click here to view the specifications of the CBR250R. Click here to visit the CBR250R website.
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Muthoot Fincorp introduces Priority Circle.
Kerala pilot market with 17 upgraded branches offering enhanced services and benefits.
20 December 2010
Muthoot Fincorp, flagship financial services company of the Muthoot Pappachan Group, relaunched today, 17 branches upgraded to Priority Circle status in Southern and Central Kerala.
The branches sport the Priority Circle signage in addition to existing signage.
Priority Circle branches offer customers dedicated relationship managers who ensure personal attention and advice on financial matters. The branches sport a next-generation ambience
with facilities such as aesthetic seating, private meeting rooms and quick service.
“We plan to further enhance facilities at Priority Circle branches by adding an NRI assistance cell, real estate services and a priority card that will offer privileged pricing and preferential
service at over 1,000 branches pan India,” says Thomas John Muthoot, Chairman and Managing Director, Muthoot Pappachan Group. “Priority cardholders will also receive discounts and
privileges at Muthoot Pappachan Group’s Hospitality and Automotive Divisions which are currently expanding rapidly,” adds Mr. Muthoot.
Priority Circle Branches
| REST OF KERALA |
TRIVANDRUM |
| 1 |
KAYAMKULAM |
1 |
THIRUVANANTHAPURAM |
| 2 |
MAVELIKARA |
2 |
KESAVADASAPURAM |
| 3 |
MAVELIKARA MITCHEL JN. |
3 |
PEROORKADA |
| 4 |
CHENGANNUR |
4 |
ULLOOR |
| 5 |
KOLLAM |
5 |
VELLAYAMBALAM |
| 6 |
AYROOR |
6 |
ARYASALA |
| 7 |
THIRUVALLA MC ROAD |
7 |
SASTHAMANGALAM |
| 8 |
THIRUVALLA SCS JUNCTION |
8 |
TECHNOPARK |
| 9 |
PATHANAMTHITTA |
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Neeraj George Baby brings home victory in Men’s Doubles from Tel Aviv.
Continuing his determination to excel in badminton, despite being physically challenged, Neeraj George Baby recently triumphed in a tournament held in Israel. As reported earlier in this website, Neeraj was scheduled to compete in the Israel Open 2010 badminton Tournament for the Physically Challenged.
Neeraj achieved 3rd Place in Men's Doubles Standing Lower Category in the tournament held in Tel Aviv from 24th to 29th November 2010.
Click here to see the earlier report.
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Kanaka Mudra special edition gold coin launched...
K Jayakumar IAS, Additional Chief Secretary, releases coin.
17th November, 2010:
Mr. K Jayakumar IAS, Additional Chief Secretary, Home and Vigilance and Chief Commissioner of the Travancore Devaswom Board, officially launched the freshly minted Kanaka Mudra coin at a function held at the Muthoot Plaza Hotel in Thiruvananthapuram yesterday.
The first coin released was received by Mr. Thomas John Muthoot, Chairman and Managing Director of the Muthoot Pappachan Group, from Mr. Jayakumar. The 99.9% pure gold coin, minted with the figure of Lord Ayyappa on one side, is available in one, two, four, eight, 10 and 20 gram denominations. “We are delighted to be able to offer this finely crafted gold coin to devotees of Lord Ayyappa throughout India. It will be available at specially constructed Muthoot Fincorp roadside stalls on the route of the Sabarimala pilgrimage this year,” said Mr. Thomas John Muthoot.
Sabarimala pilgrims will receive instant delivery of one and two gram coins at the stalls. Advance booking will also be accepted at the stalls by paying 20% and the balance amount in installments at Muthoot Fincorp branches. The Kanaka Mudra coins will also be available at Muthoot Fincorp branches throughout India.
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MPG aims to double wind energy generation capacity by end 2012.
Rs.125 crores invested so far, capacity reaches 25 MW in 2010.
In operation since 1993, Muthoot Pappachan Group’s pioneering wind farms in Tirunelveli and Kanyakumari Districts of Tamil Nadu are set to expand capacity.
Total installed capacity of Muthoot Pappachan Group in wind power is 25 mega watts with a total Investment of Rs. 125 crores. Estimated investment for the capacity expansion is Rs. 100 crores.
According to India’s Ministry of New and Renewable Energy, 4,500 MW capacity addition is likely to take place in wind power. The country has installed over 12,000 MW wind power capacity.
Wind energy is currently being generated in over 75 countries and is expected to meet 12% of global power demand by 2012 and 22% demand by 2030, according to a study conducted by the Global Wind Energy Council.
Muthoot Pappachan Group has added 4.50 MW of wind power in the current year with an investment of Rs. 26 crores, generating a total of 450 lakh units per year under a Power Purchase Agreement (PPP) with the Tamil Nadu Electricity Board.
“The government has rightly recognized the energy security concerns of the nation and more importance is being placed on energy independence,” says Thomas John Muthoot, Chairman and Managing Director of Muthoot Pappachan Group. “We are currently studying expansion plans that are expected to double our total wind power generation capacity by end 2012,” he adds.
The Group is also considering other areas of clean energy generation in consultation with industry experts.
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Disability did not hold Neeraj back: the story of a badminton star.
Neeraj George Baby was introduced to the sport of badminton by none other than his passion for the sport. Driven by it, he began to play badminton
even though he is permanently disabled. Neeraj had an above knee amputation of his left limb due to Osteogenic Sarcoma (Bone Cancer) in 1996 when
he was 9 years old.
He began playing badminton on single crutches with able bodied people and picked up the techniques with amazing alacrity. Initially he represented his
College of study, UC College in Alwaye, Kerala, in intercollegiate matches. Later when he came into contact with the All India Badminton Association for
the Disabled, a world of glorious opportunities threw open their doors.
As a debutant , it was Neeraj’s privilege to represent Kerala in the National level tournament held at NALCO Nagar, Orissa. What followed was a deluge
of opportunities.
Neeraj George Baby secured Silver in Doubles at the 2007 All India Super Six Badminton Tournament for the Physically Challenged and the Sixth National
Championship in the same year. At the 2008 Asian Paralympic Cup, Neeraj bagged Gold in Doubles and Silver in Singles.
In the academic front, Neeraj is no less accomplished. He holds a Master of Science degree in Biotechnology from the University of Abertay, UK.
Neeraj is participating in the Israel Open 2010 Tournament to be held in Tel Aviv from 24th to
29th November. The Muthoot Pappachan Group wishes him
all the very best.
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Strong response as bookings open at Muthoot Motors Jaguar/Land Rover.
Further to its appointment as sales and service partner of the Jaguar/Land Rover (JLR) brands in Kerala markets, Muthoot Motors has announced that bookings are now open for the various models in the JLR stable.
An advertising campaign was recently released for various Jaguar models due to hit Kerala roads.
According to Thomas Muthoot, Director of Muthoot Motors’ parent company, Muthoot Pappachan Group, enquiries have been brisk with those booking opting for fully loaded models. “We are thrilled that Kerala’s discerning understand, admire and demand to own the best,” says Thomas Muthoot.
Enquiries for Jaguar, Range Rover and Freelander may be made by calling Toney Cherian on
+91-81299 99801.
To know more about Muthoot Motors Jaguar please click here, and Muthoot Motors Land Rover please click here. Email enquires may be sent to jaguar@muthootjlr.com or landrover@muthootjlr.com.
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Honda to Produce New Road Sports Model CBR250R in Asia.
A strategic global model for export from Thailand and India.
Honda will produce the new CBR250R road sports model in Thailand and India and launch sales in November. This CBR250R will have the largest engine displacement of any vehicle produced by Thai Honda Manufacturing and Honda Motorcycle and Scooter India, and will be its first
full-fledged road sports model. Following in the footsteps of last year’s PCX 125cc scooter produced and sold by Thai Honda, the CBR250R will be launched as a global model for export to a wide range of countries such as the ASEAN countries, Japan, Europe, North America, and Australia. In Japan, the CBR250R is scheduled to begin sales in the spring of 2011.
Click here to read more.
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Attakkalari performances attract excellent reviews in Cochin and Trichur, special performance scheduled in Trivandrum.
Brought for the first time ever to Kerala by the Muthoot Pappachan Foundation, the Attakkalari Centre for Movement Arts is India’s premiere organization working in the field of contemporary movement arts. Programmes include Education and Outreach, Diploma in Movement Arts and Mixed Media, Research and Documentation, the Attakkalari India Biennial and the Repertory Company. Founded in 1992, Attakkalari is led by its Artistic Director, Jayachandran Palazhy, and is currently based in Bangalore.
During the past few years the Attakkalari Repertory has performed at some of the most prestigious dance festivals in Europe, Japan, China and the UK including the Venice Biennale, Bonn Biennial, Monaco Dance Forum, Munich Contemporary Dance Festival, Juli Dans Festival as well as venues in Lublin, Bologna, Düsseldorf, Frankfurt, Yokohoma and London. It is also a matter of great pride that in October 2008 Attakkalari was invited by the Indian Council for Cultural Relations to perform at the prestigious Rastrapathi Bhavan, New Delhi, to mark a diplomatic exchange between India, Brazil and South Africa (IBSA summit).
Drawing sustenance from India’s immense wealth of performance traditions, Attakkalari’s movement language is fresh, energetic, sinuous and earthy. It reflects the vibrancy and diversity of contemporary India. All dancers are trained in several Indian and international performance and physical traditions including Bharathanatyam, Kalarippayattu, Ballet, different Contemporary Dance techniques, Contact Improvisation, Yoga and Capoeira. The influence of these physical traditions can be seen in Attakkalari’s unique dance repertoire.
Performances sponsored by the Muthoot Pappachan Foundation have received excellent response from the public and media in Cochin and Trichur. The performance in Trivandrum at the Tagore Theatre on 2nd November, also sponsored by the Foundation, will include an exciting and dazzling cross section of Attakkalari’s repertoire from shorter dance pieces to movement excerpts from full length multi-media dance productions. Through this performance audiences in Kerala will gain a truly fantastic and entirely unique viewing experience.
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| Courtesy: Park Sang Yun |
Courtesy: Divya Babu |
Courtesy: Divya Babu |
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Soorya Stage and Film Society and Muthoot Pappachan Foundation initiates drive to preserve classical theatre in Kerala, India.
Classical theatre is a dying art form in Kerala. A timely move to preserve the artform in its entirety was recently launched by Soorya Krishnamoorthy in association with mega Malayalam movie star Suresh Gopi. The start of the dance and song segment on 1st October 2010 within the 111-Day long Soorya Festival was the platform for announcement of the initiative. Muthoot Pappachan Group, through the Muthoot Pappachan Foundation is contributing a total of Rs.4 lakhs towards the cause. The funds will be used to support the livelihood of theatre artists in need. Suresh Gopi and a few other corporate houses have contributed similar amounts.
Following the announcement of the initiative, the main event of the day commenced. A classical concert by Padma Bhushan Dr. KJ Yesudas marking the beginning of 'kacheri' in the Soorya Festival. The event was attended by Suresh Gopi, Sashi Tharoor MP and Thomas John Muthoot, Chairman and Managing Director of the Muthoot Pappachan Group.
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Auto loan linked free personal accident insurance cover helps family in time of need.
The story of Mr. Giridhar, who died in a road accident, should be an eye opener for many.
Mr. Giridhar obtained a two-wheeler loan from Muthoot Fincorp’s Alathur Branch in Kerala.
The loan amount of Rs.13,288 was disbursed on 18th February 2010.
On 21st March he met with a fatal accident. Though the loss to the family due to the death of
Mr. Giridhar is unfathomable, the Muthoot Fincorp’s personal accident insurance of Rs.1 Lakh, which is free of cost to all two-wheeler loan customers, became a small consolation to the family.
On 26th September a cheque of Rs.1,07,286 was handed over to the widow of Mr. Giridhar by Alathur Panchayath member Mrs. Sareena, on behalf of Muthoot Fincorp. It is impossible to compensate the emotional loss of his family, but the free insurance cover reduced some of the family's financial burden.
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MPG announces Soorya Festival, the longest festival of Indian performing arts in the world.
Trivandrum, 21st September 2010.
The world’s longest arts and music show, 'Soorya Festival-2010', began with a grand inaugural ceremony and the screening of a Malayalam film 'Aathmakadha' at the Tagore Theatre here today. A cultural programme by 30 women artists from Hyderabad was the highlight of the inaugural function. The 111-day festival is organised by Soorya Stage and Film Society, in association with the Muthoot Pappachan Group. Soorya Krishnamoorthy, one of the most renowned promoters of Indian performing arts is the force behind 35 years of the successful festival. Top South Indian film star, Srinivasan, participated at the event.
The Soorya Festival is one of only two public cultural events held in Kerala annually that is classified of national importance by the Indian Government. The Soorya Festival is also held around the world. Current chapters of the festival include the UK, Switzerland, The Middle East, Malaysia, Australia and New Zealand.
The festival will have different sections, including a film festival, drama festival and dance-music festival. Core events would also be held in ten districts of Kerala and various metros in India, including Chennai, Bangalore, Pondicherry, Mumbai and New Delhi.
As part of the festival a painting exhibition will be held at the Tagore Theatre from 22nd September to 30th November.
The full cultural segment of the Soorya Festival will open at the Tagore Theatre, Trivandrum, on 1st October with a carnatic vocal performance by Padma Bhushan K J Yesudas. The 111-day event will officially come to a close on 10th January 2011, with a stage show 'Dwayam' directed by Soorya Krishnamoorthy.
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Delhi Chief Minister attends MPG ‘Go India! Go for Gold!’ grand finale.
19th September, 2010.
Hundreds of supporters Joined the Muthoot Pappachan Group sponsored ‘Go India! Go for Gold!’ campaign’s grand finale in Delhi. The 'Walk for Victory' March to encourage the United India Team to Go for Gold was organized by Fever FM and the Hindustan Times Group. The Chief Minister of Delhi, Sheila Dixit, was the chief guest at the flag off event of the march in Connaught Place. Also present was Suresh Kalmadi, President of the Indian Olympic Association and Head of the Commonwealth Games Committee. Muthoot Pappachan Group Director, Thomas George Muthoot, was present on the dais with Sheila Dixit and Suresh Kalmadi. They flagged the march off together.
The entire Muthoot Pappachan Group team from Muthoot Fincorp’s branches in Delhi were present at the flag off and participated in the march in their blue signature T-shirts. The event was covered by major press and broadcast media.
The ‘Go India Go for Gold’ campaign started on 3rd September 2010. Giant canvas panels were installed all over Delhi, at schools, colleges, offices, markets, malls and Muthoot Fincorp offices for people to show their support with colourful ‘high five’ hand imprints. These canvas panels were displayed along the route of the march in Connaught Place.
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Muthoot Mahila Mitra loan portfolio touches 10,000 women micro entrepreneurs.
Muthoot Pappachan Group has reached out to the lives of 10,000 women micro entrepreneurs through the Muthoot Mahila Mitra programme. The successful journey of Muthoot Mahila Mitra started on 23rd April 2010 with a loan disbursement at MGR Nagar branch, Chennai.
On 15th September 2010, the number of women entrepreneurs touched the figure of 10,000 by expanding the branch network to seven. Muthoot Mahila Mitra is currently present in Kerala, Tamil Nadu, Karnataka and Andhra Pradesh. Many more milestones are expected in the near future.
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Muthoot Pappachan Group encourages Indian participants to win Gold at the Commonwealth Games. Go India! Go For Gold!
The ‘Go India! Go For Gold!’ campaign sponsored by Muthoot Pappachan Group has generated immense interest and participation. Giant canvas panels have been installed all over Delhi, at schools, colleges, offices, markets and malls for people to show their support with colourful ‘high five’ hand imprints. The finale will be a public march called the ‘Go for Gold’ march on 19th September. All the canvas panels filled with handprints will then be put up on both sides of the marching route for approximately 6 kilometers. The ‘Go India! Go For Gold!’ campaign started on 3rd September.
Hindustan Times Group and Fever FM in association with the Commonwealth Games Committee are the organizers of the campaign.
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Taj Green Cove Resort joins Sthreejyoti/ACCION in drive to train women
entrepreneurs.
8th September, 2010
The women's empowerment programme Sthreejyoti/ACCION initiated by Muthoot Pappachan Group is overwhelmed by yet another tie-up with Taj Green Cove Resort to train women in the Pananthura community, in Trivandrum, Kerala.
The activity with Taj Cove Resort this morning at Pananthura was kick started in the presence of the Taj team headed by General Manager Surinder Singh. The Taj team organized the infrastructure and logistics for women to be there on time, at short notice. The endeavor towards this training initiative to empower women in such communities go a long way to establish entrepreneurial skills.
Sthreejyoti/ACCION offers proven training at grassroots level through follow-ups and linkages, crossing training of 1,650 women entrepreneurs as of 20th August 2010. The grassroots programme started functioning in the states of Kerala, Karnataka and Tamil Nadu in February 2010.
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Muthoot Mahila Mitra woman entrepreneur featured on US Government site and on cover of Women’s World Banking report.
Girija, a micro entrepreneur in Kerala, to whom Muthoot Fincorp’s Muthoot Mahila Mitra advanced two working capital loans has featured on the US Government website, thanks to Women’s World Banking. She was also on the cover of the May 2010 Women’s World Banking Director’s Report.
In a society with a very low divorce rate, Girija separated from her husband four years ago and became the sole parent to her 11-year old son. Although she completed high school, she had only one hard skill: tailoring. She worked in a tailor shop while married and saved enough to buy a sewing machine. After her divorce she took a stitching course, and with initial capital provided by her father, opened her own shop. The business stumbled along but Girija was unable to grow it: she did not qualify for a bank loan because she had no collateral. Then, 18 months ago, Muthoot Fincorp, a partner of WWB and South India’s leading non-banking financial company, came calling with the offer of a working capital loan. With Rs. 25,000 (approximately USD $500) in her pocket, Girija went to the nearby city of Bangalore to buy fabric. This allowed her to offer her customers one-stop shopping, the ability to buy the fabric and get it stitched at the same place, while doubling her opportunities to generate income.
Girija now owns a second sewing machine, hired a full-time employee and received a second loan of Rs. 25,000 from Muthoot (having successfully paid off the first). Her net profit is Rs. 6,000 per month, in a country where the median family income is approximately Rs. 4,500 a month. More importantly, she is able to afford a private school for her son. She is currently saving for her dream textile shop.
Courtesy: Women’s World Banking
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Bus Aur Nahin anti-ragging bus completes successful visits to 4 cities in Kerala.
Muthoot Pappachan Foundation’s anti-ragging cross country bus visited 4 cities in Kerala,
completing Trivandrum on 6th September. The number of student signatures collected
against ragging in Calicut, Cochin, Kottayam and Trivandrum took the total to over 35,000.
The flag off institutions in Kerala were, IIM Calicut, SCMS Cochin, Baselios Kottayam and
Mar Ivanios Trivandrum. Previous cities visited include Delhi, Jaipur, Mumbai, Pune,
Hyderabad and Bangalore.
The Bus Aur Nahin roadshow ends with a grand finale at Loyola College on 9th September.
A giant canvas (stitched together from all the signature canvases) will be unveiled at the
Chennai event.
The roadshow has been active on Facebook, Twitter and Orkut.
Click here for details.
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Muthoot Pappachan Group 'Go India, Go for gold' Commonwealth Games campaign launched.
New Delhi, 4th September, 2010
The Commonwealth Games Organizing Committee with the support of Muthoot Pappachan Group and Hindustan Times Group on Saturday launched a campaign to spread awareness about the mega event and muster support for the Indian sportspersons. The 'Go India, Go for Gold' campaign will collect about one lakh hand prints in support of the Indian teams. In the three-week campaign, canvases will be put up at various colleges, schools, markets, malls, and offices and it will culminate in a march at an undecided venue. During that march, the canvases will put up on both sides of the road to form a wall, stretching up to 6 kilometers.
R. Manomohanan, CEO of Muthoot Capital Services, part of the Muthoot Pappachan Group, said the campaign would help the Indian athletes know the kind of expectations countrymen have from them. "We believe it's time that awareness is spread. The athletes will know the burden of expectation they will be carrying during the Games," he said.
Read the Hindustan Times/Press Trust of India report, click here.
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Sanchaari: presented by Muthoot Pappachan Foundation.
The Attakkalari Centre for Movement Arts, Bangalore, is presenting an evening of contemporary dance in Kochi and Thrissur. Supported by the Muthoot Pappachan Foundation, the shows will be held in Kochi on 5th September and Thrissur on 8th and 9th September, 2010.
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Muthoot Pappachan Group to represent Jaguar Land Rover brands
Muthoot Pappachan Group is glad to announce that an agreement has been reached with Jaguar Land Rover (JLR) to represent their brands in Kerala. The Group has had a long association with the Tata Group, parent company of JLR.
A separate company under the Muthoot Pappachan Group umbrella is being appointed as the sales and service provider of JLR brands, Range Rover and Jaguar. An initial investment of 25 Crores is being made to develop an international class showroom and service centre to JLR specifications in Kochi. The Kochi facility will be operational within three months.
A number of value-added services will be available at the sales and service centre in Kochi, making it probably a unique facility in the JLR network. These services will be announced closer to the launch date.
The Kochi sales and service centre will cover the entire Kerala market in the first stage, particularly due the city’s central location between Northern and Southern Kerala. Muthoot Pappachan Group has plans to establish similar sales and service centres in other key cities in Kerala. The Group is also in talks to take the JLR dealership outside Kerala.
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Conversing in Colour, Unni Shankar
Muthoot Pappachan Foundation sponsored an exhibition of paintings by Unni
Shankar, Conversing in Colour, at the Vernissage Gallery in Cochin, Kerala. The month long exhibition ends 17th September 2010.
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Muthoot Pappachan Foundation’s Bus Aur Nahin anti-ragging roadshow flagged off in Delhi today
New Delhi, 11th August, 2010.
In India’s biggest drive to rid university campuses of the ragging menace, a bus emblazoned with anti-ragging slogans was flagged off at the University of Delhi main campus. The event was attended by students and over 40 journalists from the press, broadcast and online media. The event was officiated by Mr.Gurmeet Singh , Proctor, University of Delhi, anti-ragging activist, Dr. Raj Kachroo and Mr. Thomas George Muthoot, Director, Muthoot Pappachan Group.
In the past decade there have been a total of over 250 ragging cases reported. Aiming to make a difference in the lives of the student community, this year, Muthoot Pappachan Foundation is holding India’s first nation wide anti ragging campaign. Several times that numbers go unreported due to reprisal fears. The time has come to bring light to this burning issue. Not just through protests and laws, but through the community which is facing the brunt of these unacceptable acts – the students.
Bus Aur Nahin, a branded bus carrying messages against ragging will travel across 9 cities, halting at 50 chosen colleges in India. The campaign is aimed at reaching out to thousands of students across the country. In each college the bus will gather signatures of students in support of this message, who would also have to pledge that they would not rag their juniors.
Flagged off in Delhi, the bus will travel subsequently to Jaipur, Mumbai, Pune, Bangalore, Hyderabad, Trivandrum, and Kochi and, with a grand finale in Chennai.
More information visit: www.muthoot.com/antiragging/
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Muthoot Pappachan Group’s Sthreejyoti women’s empowerment initiative yields more results
Surrounded by lush green forests, the Amritam baby food production house provides employment to 11 women entrepreneurs. This project is a wonderful example of how the government has played a crucial role in helping women establish themselves in business.
A few years ago a successful government scheme brought together 20 women, gave them training in how to make baby food and built them a modern factory to enable them to produce over 500kg of baby food each day. They also ensured that the product would have a guaranteed market by providing local schools with the product on a daily basis.
In the last couple of years the women have taken over the business and now pay rent for the premises. The team has now reduced to 11 women and they work together exceptionally well.
Despite their official working hours being 10am to 5pm, they all tend to work longer to get the job done and focus on increasing sales and profitability. This has all been possible with the support of their families.
Participating in Muthoot Pappachan Group’s Sthreejyoti programme in cooperation with ACCION International’s Dialog on Business training, has enabled them to formulate ambitious plans to extend their product range. They have already established that if they improve the quality of their food they will be able to sell it for Rs.120 per bag in the market rather than solely relying on the local schools where they sell the current product at Rs.40 per bag. They would also like to start producing rice powder as well as set up a tailoring business, for which they have already identified a possible location.
Before this project these women were quite timid and admit to not having had much business sense. Out of the 11 women who continue to be involved in the business seven have now learned to drive and have been able to purchase scooters to enable them to commute to work easily.
They are very proud of this!
The training also taught these enterprising women more about how to deal with suppliers and customers and improve their market linkages. This is an area that they would now like further training on in order for them to understand how to test the market to determine the feasibility of their new products.
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Principal supporter of the CII MSMEs event
Muthoot Pappachan Group was principal sponsor of the recent Session on ‘Financing Options for MSMEs’, celebrating India Investors Week. The event, a seminar on financing options for medium, small and micro entrepreneurs was held on 29th July 2010 in Trivandrum. The Confederation of Indian Industry (CII) works to create and sustain an environment conducive to the growth of industry in India.
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Free Medical Eye Camp by Muthoot Fincorp
A free Medical Eye Camp was conducted recently by Muthoot Fincorp's Cherai branch in Kerala. The Camp, conducted in association with Little Flower
Hospital, Angamaly, Kerala and HelpAge India, was inaugurated by Pallipuram Grama Panchayat President P.B. Sajeevan. Approximately 175 patients attended
the camp for consultation. Of those who attended, 22 patients were given free Cataract surgery.
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Muthoot Fincorp receives Crisil P1+ rating
Mumbai, 3rd July.
Part of the 20,000 Crore Muthoot Pappachan Group, Muthoot Fincorp Ltd., has been elevated by Crisil to 'P1+' rating in the short term loans segment, the highest rating that can be achieved to Crisil’s standards. The Crisil northward indicator strengthens positively the business risk profile of Muthoot Fincorp.
Muthoot Fincorp’s other outstanding debt programmes and bank facilities have been upgraded by Crisil to 'A+' with Stable Outlook.
"The ratings reflect Muthoot Fincorp’s substantial experience in financing against gold, innovative additions to the loan portfolio, robust asset quality, and excellent earnings profile over the most difficult periods during bthe recent recession, said Mr. Thomas John Muthoot, Chairman and Managing Director of the Muthoot Pappachan Group.
The Muthoot Pappachan Group's core businesses are financing against gold, small and medium credit to business people and insurance. The group's promoters have been in the finance business since 1939, which has helped the group to design efficient credit appraisal and approval systems and processes. The group enjoys a strong reputation in Southern India. Since 2008, Muthoot Fincorp has been expanding its presence in Central, Western and Northern India.
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Auto Loan Milestone at MCSL
Muthoot Capital Services reached the milestone of 2,000 auto loan disbursements during June 2010, resulting in an impressive revenue of INR 7.83 Crores. A growth of 31% over the previous month. With its auto loan product, MCSL is marching onto greater heights. The peak performers were branches in Kulanada and Chettikulangara, two small towns in Kerala. This is in line with Muthoot Pappachan Group’s mission to reach every town and every Indian, offering competitive financial services, where such services not available.
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Another innovative loan offering from Muthoot Pappachan Group
Gold loan repayable in installments
The 20,000 crore Muthoot Pappachan Group recently introduced a new loan product that is being launched Nationwide. Aimed at people who seek installment repayments and efficient disbursement at the maximum possible valuation of their gold, the new Smart Plus Gold Loan is the first of its kind in India.
Part of the portfolio of Muthoot Pappachan Group company, Muthoot Fincorp, the new product offers up to ninety percent of the gold value as loan. The tenure of the loans is from 6 to 36 months. The customer may redeem the gold in parts without having to wait until the full loan is settled and repayments can be made at any one of 1000 branches of Muthoot Fincorp across the Nation.
“Combined with our 3-minute loan service, this installment plan product will be a boon to those in need of finance quickly; they just walk in with an acceptable identity card like an Election Card and, walk out with the loan in minutes” says Mr. Thomas George Muthoot, Director, Muthoot Pappachan Group.
“Smart Plus Gold Loan was developed after valuable suggestions from our customers,” adds Mr. Thomas Muthoot, Director in charge of Strategic Initiatives at Muthoot Pappachan Group. “We listen carefully to the needs of the people and, as a result, we are at the forefront in the knowledge of finance at the very grassroots level.”
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Muthoot Fincorp achieves RBI-approved Money Changer Status.
Muthoot Fincorp is now an RBI-approved Authorised Money Changer (AMC). The elevated status enables Fincorp’s Forex Division to offer a wider scope of services and products without third party involvement. The range of services includes drawing instrument and remittance facilities through Fincorp’s own arrangements with offshore Banks. Customers can expect a quick, efficient overseas remittance service for such purposes as medical treatment, private visits, business travel, fee for conference and event participation, film shoots, disbursement of crew wages, education fees, emigration fees, visa fees and DDs in Saudi Riyals for Haj pilgrims.
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Muthoot Pappachan Group Wins Trivandrum Chamber Business Excellence Award
Chairman and Managing Director of Muthoot Pappachan Group, Mr. Thomas John Muthoot, received yesterday, the Business Excellence Award for the category Hospitality & Tourism, instituted by the Trivandrum Chamber of Commerce. The award was presented by Kerala Minister of Finance, Dr. T.M. Thomas Isaac, at a ceremony held on 10th June, 2010 at the Mascot Hotel in Trivandrum. The latest recognition follows three accolades received by Group property, Taj Green Cove Resort. The property secured ISO22000 certification and was chosen Winner: Travelers’ Choice 2010 by TripAdvisor and Benchmarked Company 2009 by Green Globe.
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Green Day at Muthoot Honda
5th June 2010, Cochin: In connection with World Environment Day 5th June, Muthoot Honda, Thoppumpady branch, conducted a green activity at SDPY Higher Secondary School, Palluruthy. Saplings were planted and distributed to all students as part of the effort. The principal, along with all teachers, staff, students and employees from the Muthoot Honda family participated to make the event a success.
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22 new branches of Muthoot Fincorp to open from 17th June to 30th June, 2010.
That’s almost two branches a day. The new branches are in the states of Goa, Punjab, Maharashtra, Kerala, Karnataka and Tamil Nadu. Customers can locate the branches closest to them by
using the Branch Locator in the Muthoot Fincorp and Muthoot Corporate websites. Addresses and contact details of new branches will be updated as they open for business.
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Energy and Agriculture Top Resource Panel's Priority List for Sustainable 21st Century
Fossil fuel use and feeding world cause greatest environmental impacts. Fiscal incentives, including taxes, and higher investment in innovation needed to "decouple" economic growth from damage.
Brussels, 2 June 2010 - How the world is fed and fueled will in large part define development in the 21st century as one that is increasingly sustainable or a dead end for billions of people. A new and hard-hitting report concludes that dramatically reforming, re-thinking and redesigning two sectors-energy and agriculture-could generate significant environmental, social and economic returns. Current patterns of production and consumption of both fossil fuels and food are draining freshwater supplies; triggering losses of economically-important ecosystems such as forests; intensifying disease and death rates and raising levels of pollution to unsustainable levels.
The report, prepared by the International Panel for Sustainable Resource Management, says decoupling the environmental impacts of these two broad sectors from economic growth, can start at the level of the household. Sustainability goals can begin through dramatic improvements in household patterns of energy and food use including heating and cooling systems, gadgets and appliances and the way people travel.
Perhaps controversially, it also calls for a significant shift in diets away from animal based proteins towards more vegetable-based foods in order to dramatically reduce pressures on the environment.
Achim Steiner, UN Under-Secretary General and Executive Director of the UN Environment Programme (UNEP), which hosts the Panel, said: "Decoupling growth from environmental degradation is the number one challenge facing governments in a world of rising numbers of people, rising incomes, rising consumption demands and the persistent challenge of poverty alleviation-thus setting priorities would seem prudent and sensible in order to fast track a low carbon, resource efficient Green Economy."
Source: United Nations Environment Programme
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Muthoot Honda Pathanamthitta sets sales record
Muthoot Pappachan Group’s Honda dealership in Pathanamthitta District set a sales record of 536 units in May 2010. The achievement was celebrated at a special event held in the Muthoot Honda showroom on 1st June. Vehicles sold at the Pathanamthitta showroom was 361 and, at Tiruvalla, 175. Of these, the
Honda Aviator model sold 166 units.
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Gold Demand Trends, WGC report
The content and structure of Gold Demand Trends (GDT), has been improved in order to better meet the needs of our readers. The report is now divided into three sections: 1) Global Outlook sets out the WGC’s outlook on the dynamics and trends in the gold markets worldwide and examines the themes driving demand. 2) Focus Report provides in-depth analysis of topical developments or themes. This edition focuses on the Indian gold market. 3) Gold Demand Statistics sets out demand and supply statistics for the quarter.
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Family benefits from free life cover as part of husband’s Eezy Auto Loan
Mr. Ashokan Narayanan, an autorickshaw (goods) driver who availed an Eezy loan from Muthoot Capital Services through its Vaikom branch was hit by a car on 3rd December at Thottakam and had been struggling for his life in an ICU for the next few days. He died on 19th December, leaving his wife Mrs. Sarasamma and two children, Asha and Aneesh.
Initiated by the concerned staff at the Vaikom Branch and assisted by Team Auto Loan, Mr. Ashokan’s son Aneesh, a +2 student, collected all relevant documents and submitted to Apollo Munich, the insurers.
Mr. Ashokan Narayanan’s widow received Rs.1,00,000 for his life coverage and Rs.10,000 as an education fund for her son from Apollo Munich. A woman with health problems, she had already started working, following the death of her husband.
The family was not even aware about the additional life cover benefit offered as part of the Eezy auto loan.
Muthoot Capital Services CEO, Mr. Manomohanan, handing over the cheque to Mrs. Sarasamma, in the presence of Area Manager, Kottayam, Mr. Jacob K Abraham and Apollo Munich Senior Manager, Mr. Ranju Kuruvilla Kurian.
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MUTHOOT CAPITAL SERVICES LIMITED NET JUMPS 32.53%
12 May 2010, Kochi: Muthoot Capital Services Limited today announced the audited financial results for the year 2009 -2010 at the meeting of the Board of Directors in Kochi. The Company achieved a substantially higher performance in 2009-2010 compared to the corresponding period last year. The Board of Directors recommended payment of dividend at the rate of Rs.2.50 per each share of Rs.10 (which is equal to 25%).
The net profit of the Company increased from Rs. 541.24 lakhs to Rs.717.28 lakhs, recording an impressive growth of 32.53 %, compared to the last year figures. The total income of the Company registered a growth of 29.27 %, from Rs.1738.61 lakhs during the previous year to Rs.2247.56 lakhs in the current year. The Company has succeeded in restricting the interest expenses to Rs 691.60 lakhs compared to Rs. 615.29 lakhs in the last year, which is an increase of only 12.40%. The operational expenses during the corresponding period recorded an increase of 67.22%, from Rs. 273.24 lakhs to Rs. 456.93 lakhs. Due to the cost control measures adopted by the Company, especially in restricting the financial expenses, the profit before tax recorded a jump of 30.21% from Rs. 835.14 lakhs in the previous year to Rs. 1087.42 during the year ended 31st March 2010.
During the quarter ended 31st March 2010, the net profit increased to Rs.206.14 lakhs, from Rs. 153.52 lakhs compared to the corresponding quarter in the previous year, recording a growth of 34.28%. The total Income for the Company increased to Rs. 662.29 lakhs during the quarter ended 31.03.2010 from Rs.488 lakhs during the corresponding period last year, registering a growth of 35.72 %.
Commenting on the results Mr. Thomas George Muthoot, Managing Director of the Company said, “The improved performance of the company is mainly on account of the increased portfolio of services provided by Muthoot Capital Services Limited. The Company has successfully added an array of financial services and products like the two-wheeler loans, which are well appreciated by the public. We are introducing more products to cater to the needs of the business community like the SME loans, property loans, bills discounting, loans for buying second hand cars etc.”
Mr. R. Manomohanan, Chief Executive Officer of the Company added, “The excellent performance of the Company is a testimony of the prudent policies followed by the Company in taking care of all the stake holders viz. the share holders, the customers and the public. The Company is going ahead with the 1:1 rights issue which is likely to hit the market by August/September 2010”.
The Company has identified many other areas where the branch network can be put to good use for distribution of services and third party financial products, resulting in fee based income, at the same time offering diversified value added service to the customers.
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Muthoot Mahila Mitra
Launched recently, Muthoot Mahila Mitra Loan is a part of the community lending activities of the Muthoot Pappachan Group, through Muthoot Fincorp. The programme aims to reach out to rural women by extending them timely and much needed financial services, and in the process empowering them. The unique programme utilises an innovative assessment procedure that enables the Muthoot Mahila Mitra team to extend credit, in a majority of the cases, without collateral.
Currently there are six types of product extended under Muthoot Mahila Mitra programme: Primary Loan, Emergency Loan, Education Loan, Parallel Loan and Credit Life Insurance. The Swarnavarsham gold investment product is also extended to participants in the programme, as a savings initiative.
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Muthoot Pappachan Group partners with Monitor to increase supply in affordable housing finance.
Muthoot Pappachan Group has entered into an engagement with Monitor Group to build a sustainable and differentiated presence in the housing finance market. MPG is expanding its current business to mortgages to consumers in the low income segment, who are seeking to buy housing in the Rs. 3 to 9 lakh price range. Monitor will help MPG develop a business blueprint for its housing finance operations, with the focus on creating a sustainable strategy to meet the rising demand.
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Sreesanth offers valuable tips at Muthoot Pappachan Group’s
Summer Cricket Camp
Camp concludes following two-day extension
The 2010 Muthoot Pappachan Group Cricket Camp for 12 to 19 year olds concluded at the Edapally Cricket Ground, Cochin, on 4th May. Aspiring teenagers from various parts of Kerala attended the 19-day camp, at which they were able to pick up valuable tips from national test cricketer and bowling legend, Sreesanth.
The camp, originally scheduled to close on 2nd May, was extended by two days at the insistence of Sreesanth. “I am delighted to be able to impart my skills to the next generation of aspiring professional cricketers, thanks to Muthoot Pappachan Group’s efforts,” said Sreesanth. “We had a good number of talented individuals at this year’s camp and, I wish them all success,” added the cricket maestro.
Sreesanth was assisted by former test cricket star, Abey Kuruvilla, and well-known coaching experts from the cricketing world.
The annual cricket camp is an initiative of the Muthoot Pappachan Group Sports Academy, formed to promote and develop performance skills amongst youngsters.
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45 New Fincorp Branches within the next four weeks.
As part of Muthoot Fincorp’s drive to be closer to the customer throughout India, 45 new branches will be opened from 26th April to 27th May 2010.
That’s more than one branch a day. The new branches will be in Delhi, Haryana, Kerala, Karnataka and Tamil Nadu. Customers are requested to use
the Branch Locator button on home page of the Muthoot Fincorp and Muthoot websites to locate branches. New branch addresses and contact
details will be updated as the branches open for business.
Several other new branches are being planned for the convenience of Muthoot Fincorp customers. Announcements will follow.
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Muthoot Pappachan Group Launches
Sthreejyoti a training program for women entrepreneurs
Our Bureau
Thiruvananthapuram
Muthoot Pappachan Group offers a unique programme “Sthreejyoti,” which is a set of award-winning modules focussing on building the business skills of women micro entrepreneurs. It is an educational model oriented to potential as well as established entrepreneurs.
Going strong with its core business of Gold Loan, the Group has ventured into providing micro finance (cash flow based Business Loan) in the year 2008 The number of borrowers under “Muthoot Business Loan ” portfolio has now grown to 7400 more than 25% of whom are women entrepreneurs.
“Sthreejyoti programme builds on the existing knowledge of entrepreneurs and offers them an integral development vision, further beyond simple administration of their business. The training program is extensive, participatory and reality based, using a lot of interactive games and role-plays to solve real- life business challenges and thus the program is engaging for people with little formal education who may not learn effectively in a traditional classroom setting” says Thomas Muthoot Director Muthoot Fincorp.
The courses offered are Self Management for Women, Leadership, The Entrepreneur and the Management, The Feasibility of My Business, From the Idea to the Business, Communication and Promotion, Cash Management, Savings and Investment and Debt. Each course lasts an average of 5 hours and is adapted to entrepreneur’s time and availability and the courses include an immediate action plan for entrepreneurs of what they have learnt. The program has standardized quality: all facilitators and entrepreneurs are certified by ACCION.
ACCION International, a private non-profit Organization with a mission of giving people the financial tools they need to work their way out of poverty. To date, ACCION has trained more than 700,000 micro entrepreneurs, 60 percent of whom are women.
The program offers a whole lot of benefits for Muthoot Fincorp by offering their clients credit plus services, loyalty building, lower client attrition rate, also offering new products and services to clients as they grow in businesses. Sthreejyoti program training is done by certified ACCION Master Facilitators; ACCION conducts periodical impact evaluation to measure the success of the program, enabling entrepreneurs to increase competitiveness in the market to generate more income and improve their economic and living conditions.
The Muthoot – Accion joint initiative will train 20000 women entrepreneurs in the next one year says Thomas Muthoot Director. Muthoot Fincorp. In his interaction with the media during the inaugural ceremony of this new initiative.
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| Claim Settlement by MPF |
Helping hand from Muthoot even in our customer's absence..
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| Rotary Marathon |
Mini Marathon moments..
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Australian High Commissioner's Visit
The High Commissioner of Australia to India H E Peter Varghese called on Mr. John Muthoot, Chairman of MUTHOOT PAPPACHAN GROUP on March 11th, at the Corporate Office, Thiruvananthapuram. He was accompanied by Mr. Aminur Rahman, Australian Consul-General for South India and Mr. Mark Ryan, First Secretary – Australian High Commission.
The High Commissioner and his Team were received by Mr. George Muthoot, Director of MUTHOOT PAPPACHAN GROUP.
The meeting provided a platform for discussing investment opportunities in collaboration with the Group in Education,Vocational Training, Tourism, Sports, and other areas of mutual interest.
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Honda Motorcycle, Muthoot Capital Services tie up
Honda Motorcycle and Scooter India Pvt Ltd has tied up with Muthoot Capital Services Ltd (MCSL), a division of Muthoot Pappachan Group, to offer instant “need-based financial services” for its two-wheeler customers. The tie-up will enable HMSI to penetrate deep into the semi-urban and rural markets using the services of MCSL’s retail outlets and dedicated manpower at every HMSI sub-dealer point.
HMSI has a strong dealer network in Kerala and Tamil Nadu, where the financing options will be available initially. The two companies will work closely to bring in operational efficiency, optimise the turn around time (TAT) and enhance customer satisfaction. The financing option will be offered to customers purchasing two wheelers at the authorised Honda retail outlets on an equated monthly instalments under the innovative flexi repayment options.
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MCSL 1st Quarter Results Announced
The unaudited financial results of Muthoot Capital Services Limited for the quarter ended 30th June 2009 reveals substantially higher performance compared to the corresponding period last year. The results were approved in the meeting of the Board of Directors held in Kochi on 28th July 2009.
The total income from operations for the Company increased from Rs 357.71 lakhs in the quarter ended 30th June 2008 to Rs 507.52 lakhs in the corresponding period this year, registering a growth of 41.88 %. However the interest expenditure increased by 61.89 % from Rs. 109.83 lakhs to Rs 176.83 compared to the corresponding period last year. Proactive measures implemented by the Company resulted in restricting the other expenditure during the period and this resulted in a Profit Before Tax of Rs 252.03 lakhs. Compared to Rs 180.98 lakhs for the corresponding period last year, the increase in Profit Before Tax is 39.26%. The net profit increased from Rs.122.17 lakhs to Rs 167.23 Lakhs, recording a growth of 36.87%.
Speaking on the future outlook of the company Mr. Thomas George Muthoot, Managing Director stated that, “We expect a good year ahead with signs of recovery in the economy as a whole. We are expecting a surge in the coming quarters with the onset of festival season in India".
Commenting on the company’s performance, Mr. R Manomohanan CEO Muthoot Capital Services limited said, “We feel happy with our performance in the first quarter of the current financial year. The stringent measures taken by the company for cost control and resources optimization are proving beneficial and we expect that it will make a positive impact on the current performance.”
The Company is maintaining its growth trajectory in operations as well as profits by increasing the exposure under the existing schemes and introducing innovative products, continuing to maintain the highest quality of the assets portfolio. The two wheeler loans offered by the Company are well received in the market. Recently the company has announced its tie up with Honda two wheelers to offer need based loan for buying two wheelers. There has been good response to the small and medium sized loans offered for traders and other businessmen. The Company plans to enhance its loans portfolio, by introducing innovative loan products. The latest addition to its loan portfolio is the scheme for financing of gold bullion. Under the scheme, the company will be extending finance to jewelers for purchase of 999 pure gold bullion from Rajesh Exports Ltd.(REL), the largest jewellery exporters from India. The gold imported by REL is sold through Muthoot Exim, the consignment agents for REL and the company will be extending finance for the purchasers of gold from Muthoot Exim.
The Company’s plans for organic growth by increasing the number of branches and adding to the portfolio of services and products are well under way. The Company is poised to increase the business levels and improve profits in the current year. The Company is going ahead with its plans to open Branches in Maharashtra, Madhya Pradesh and Gujarat to complement the existing branches in reach and business. Also, The Company is contemplating to offer the entire spectrum of capital market related products to the investing public.
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Muthoot Capital Services Q3 profit up at Rs 1.72 crores
Muthoot Capital Services Ltd has announced the financial results for the quarter ended on 31-December-2009. The Net Sales was at Rs.5.52 crores for quarter ended on 31-December-2009 against Rs.4.43 crores for the quarter ended on 31-December-2008.
The Net Profit / (Loss) was at Rs.1.72 crores for the quarter ended on 31-December-2009 against Rs.1.29 crores for the quarter ended on 31-December-2008.
The company has reported an EPS of Rs.2.65 for the quarter ended on 31-December-2009 against Rs.2 for the quarter ended on 31-December-2008.
The Net Sales was at Rs.15.67 crores for 9 months ended on 31-December-2009 against Rs.12.24 crores for the 9 months ended on 31-December-2008.
The Net Profit / (Loss) was at Rs.5.11 crores for 9 months ended on 31-December-2009 against Rs.3.88 crores for 9 months ended on 31-December-2008.
The company has reported an EPS of Rs.7.86 for 9 months ended on 31-December-2009 against Rs.5.97 for 9 months ended on 31-December-2008.
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Muthoot Capital Services posts 33% growth in net
Muthoot Capital Services Limited has registered a 33 per cent growth in its net profit for the quarter ended December 31, 2009, touching Rs 172.55 lakh against Rs 129.67 lakh during the corresponding period last year. The total income from operations for the quarter ended increased to Rs 556.98 lakh from Rs 456.67 lakh for the corresponding period last year, registering a growth of 22 per cent At the same time, the expenditure other than interest expenditure went up to Rs 132.65 lakh from Rs 63.40 lakh, which amounted to an increase of 109 per cent.
However, the company has been able to control financial expenses, resulting in reduction of interest expenses to Rs 162.75 lakh from Rs 196.37 lakh in the corresponding quarter last year, which is a saving of 17 per cent. The total expenses during the quarter recorded increase up to Rs 295.39 lakh compared to Rs 259.76 lakh for the corresponding quarter last year, which is an increase of only 14 per cent, Mr R. Manomohanan, Chief Executive Officer, said in a release.
Less expenses
As a result of the company's ability to restrict the increase in expenses, the profit before tax recorded an increase of 33 per cent from Rs 196.90 lakh during the quarter ended December 31, 2008, to Rs 261.59 lakh for the quarter ended December 31, 2009.
For the nine months ended December 31, 2009, the company achieved a total income of Rs 1585.27 lakh, compared to Rs 1250.62 lakh during the corresponding period last year, recording a growth of 27 per cent.
The expenditure other than interest expenses increased from Rs 214.80 lakh to Rs 317.72 lakh, which is an increase of 48 per cent.
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Muthoot Plaza to increase the inventory to 125 keys
Promoted by the Muthoot Pappachan Group, The Muthoot Plaza is set to international standards, providing a world of comforts right at the fingertips of the discerning business traveller, besides offering the trademark of the Sarovar Hotels hospitality, an affiliate of the Carlson Hotels World Wide, now the fastest growing hotel management group in India, with 35 hotels all over India. One of the finest business hotels in Kerala, the property has 57 well-appointed rooms, classified as Executive, Plaza, Deluxe and Presidential suites, a state-of-the-art business centre, conferencing and banqueting facilities, a wi-fi hotspot, a state-of-the-art gym and with laptop provided in high-end rooms.
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Muthoot Group launches training programme for women entrepreneurs
Our Bureau
Thiruvananthapuram, Dec. 21
The Muthoot Pappachan Group has launched “Dialogue on Business,” a set of award-winning modules focussing on building the business skills of women micro entrepreneurs.
It is an educational model oriented to potential as well as established entrepreneurs, according to Mr Thomas Muthoot, Director, Muthoot Fincorp. The initiative will train 20,000 women entrepreneurs in the next one year.
The Muthoot Pappachan Group is one of the largest family promoted and professionally managed business conglomerates based in Kerala with a presence in diversified fields such as banking and finance, hotels and resorts, real estate, automobile sales, power generation and IT Infrastructure. Muthoot Fincorp Ltd is the financial services division of the Group, and a non-banking financial company registered with the Reserve Bank of India. It has a network of over 1000 branches pan India and a customer base of more than a million.
MICRO FINANCE
While going strong with its core business of gold loan, the Muthoot Group has ventured into providing micro finance (cash flow based business loan) in 2008. The number of borrowers under the ‘Muthoot Business Loan' portfolio has now grown to 7,400, with more than 25 per cent being women entrepreneurs.
The training programme, launched in Kottayam last week, has standardised quality with all facilitators and entrepreneurs being certified by Accion, an international non-profit organisation in the private sector.
Accion's mission is to give people the financial tools they need to work their way out of poverty. To date, the Accion training programme has trained more than seven lakh micro entrepreneurs, 60 per cent of whom are women.
The programme offers benefits for Muthoot Fincorp enabling it to offer clients credit plus services, loyalty building, lower client attrition rate while also facilitating the launch of new products and services to clients as they grow in businesses.
PERIODICAL UPDATE
The Dialogue on Business training is executed by certified Accion Master Facilitators, Mr Muthoot said. Accion conducts periodical impact evaluation to measure the success of the programme enabling entrepreneurs to increase competitiveness in the market to generate more income and improve their economic and living conditions.
Dialogue on Business builds on the existing knowledge of entrepreneurs and offers them an integral development vision, beyond simple administration of their business.
The training programme is extensive, participatory and reality-based, using a lot of interactive games and role-plays to solve real-life business challenges. It has proved engaging for people with little formal education who may not learn effectively in a traditional classroom setting, Mr Muthoot said.
COURSES OFFERED
The courses offered are self management for women, leadership, entrepreneur and the management, The feasibility of my business, from the idea to the business, communication and promotion, cash management, savings and investment and debt. Each course lasts an average of five hours and is adapted to entrepreneur's time and availability.
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