Muthoot's quest for life beyond gold
SummaryThe firm’s golden run started facing headwinds over a year back. The gold loan market is getting busier with formidable competition from well-heeled contenders such as banks and other NBFCs.
Ernakulam: Two decades ago, the leadership team of Muthoot Finance Ltd was asked to convene for an urgent meeting in Kochi, Kerala. M.G. George Muthoot, the company’s chairman back then, had a new plan to share—a few advertisements that could be key to an ambitious expansion he wanted to press ahead with.