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, it already has presence in Delhi, Chandigarh, UP, Haryana & Punjab
Chairman and Managing Director, 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, Beaver, 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” 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 in easy instalments and Swarnavarsham, a loan scheme in which the customer can buy 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 & a hassle free servicing. 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,” Muthoot said.
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.