George Muthoot

George Muthoot took charge as chairman in 1993, overseeing its expansion into more than 4,500 branches across the country and growing its market capital nearly eight folds in the past decade.

Shares of Indian non-banking financial firm Muthoot Finance Ltd fell the most in nearly two months on Monday, after group chairman M.G. George Muthoot died over the weekend, with media reports saying he fell from his fourth floor house in New Delhi.

Muthoot Group Chairman MG George Muthoot died in New Delhi on Friday evening. He was 72.

The Managing Director of Muthoot Finance company was injured after miscreants allegedly pelted his car with stones here on Tuesday morning following which one person was reportedly taken into custody.

A special CBI court here on Tuesday sentenced nine of the 13 people convicted for the 2009 murder of Paul Muthoot George to life imprisonment and the remaining four to three-year jail terms.

The group has launched Muthoot Gold Point to recycle gold jewellery into bars at a nominal cost. It has already been running a pilot centre in Coimbatore for the past three months and just started another one in Chennai, Muthoot Fincorp director Thomas George Muthoot told PTI.

It plans to commence operations in Kerala and will expand to other parts of the country successively, it said.

Muthoot Finance Ltd on Thursday reported a dip in its net profit to at Rs 154 crore for the third quarter that ended on December 31, 2014.

Bankers on Thursday asked the government to desist from resorting to populist measures like farm debt waivers as it affects lenders profitability.

Muthoot Finance believes that there is a lot of scope in gold loan business in Sri Lanka as economic activity in that country has improved and people are interested to borrow against gold.

Gold loan finance major Muthoot Finance on Wednesday reported a 19 per cent drop in net profit at Rs 171 crore for the July-September quarter on account of lower asset growth.

Muthoot Finance Ltd, the largest provider of loan against gold in India, on Monday reported a 7.21 per cent dip in profit after tax at Rs 180 crore for the first quarter that ended on June 30, 2014.

Commenting on the results, company chairman M G George Muthoot said it was a turbulent year for the company due to adverse regulatory environment, fluctuation in gold prices and economic slowdown.

George M Alexander, senior vice president of Muthoot also said they expect some decision on the licence issue by the end of February from the RBI and accordingly the company will approach SEBI for necessary approvals.

Non-banking finance companies (NBFCs) lending against gold on Thursday welcomed a recent move by the Reserve Bank of India to raise loan amount against pledged gold, saying this will facilitate financial inclusion, provide a level playing field in their favour and deliver more value to customer assets.

George Muthoot took charge as chairman in 1993, overseeing its expansion into more than 4,500 branches across the country and growing its market capital nearly eight folds in the past decade.

Shares of Indian non-banking financial firm Muthoot Finance Ltd fell the most in nearly two months on Monday, after group chairman M.G. George Muthoot died over the weekend, with media reports saying he fell from his fourth floor house in New Delhi.

Muthoot Group Chairman MG George Muthoot died in New Delhi on Friday evening. He was 72.

The Managing Director of Muthoot Finance company was injured after miscreants allegedly pelted his car with stones here on Tuesday morning following which one person was reportedly taken into custody.

A special CBI court here on Tuesday sentenced nine of the 13 people convicted for the 2009 murder of Paul Muthoot George to life imprisonment and the remaining four to three-year jail terms.

The group has launched Muthoot Gold Point to recycle gold jewellery into bars at a nominal cost. It has already been running a pilot centre in Coimbatore for the past three months and just started another one in Chennai, Muthoot Fincorp director Thomas George Muthoot told PTI.

It plans to commence operations in Kerala and will expand to other parts of the country successively, it said.

Muthoot Finance Ltd on Thursday reported a dip in its net profit to at Rs 154 crore for the third quarter that ended on December 31, 2014.

Bankers on Thursday asked the government to desist from resorting to populist measures like farm debt waivers as it affects lenders profitability.

Muthoot Finance believes that there is a lot of scope in gold loan business in Sri Lanka as economic activity in that country has improved and people are interested to borrow against gold.

Gold loan finance major Muthoot Finance on Wednesday reported a 19 per cent drop in net profit at Rs 171 crore for the July-September quarter on account of lower asset growth.

Muthoot Finance Ltd, the largest provider of loan against gold in India, on Monday reported a 7.21 per cent dip in profit after tax at Rs 180 crore for the first quarter that ended on June 30, 2014.

Commenting on the results, company chairman M G George Muthoot said it was a turbulent year for the company due to adverse regulatory environment, fluctuation in gold prices and economic slowdown.

George M Alexander, senior vice president of Muthoot also said they expect some decision on the licence issue by the end of February from the RBI and accordingly the company will approach SEBI for necessary approvals.

Non-banking finance companies (NBFCs) lending against gold on Thursday welcomed a recent move by the Reserve Bank of India to raise loan amount against pledged gold, saying this will facilitate financial inclusion, provide a level playing field in their favour and deliver more value to customer assets.