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What do we do with the Gold?

The Gold bought from you via Muthoot Gold Point outlets is sent to a refinery that in turn refines it into 995 Gold bars. The bars are supplied to the domestic market thereby helping the macro objective of reducing India’s over dependence on Gold imports.

About the Muthoot Pappachan Group

The Muthoot Pappachan Group, also popularly known as the Muthoot Blue Group, is built on the bedrock of Trust and is shaped by core values of Integrity, Collaboration and Excellence. With the genesis in its Founder, Shri Muthoot Pappachan’s unwavering faith in God’s teachings of love, respect and duty towards humanity and resolute adherence to basic human values & principles, the Group have evolved over the decades, into a business conglomerate that has the well-being of the people at the lower levels of socio-economic strata, at the very centre towards empowering the human ambition of these under-served masses in India.

We are the part of Muthoot Pappachan Group (also known as Muthoot Blue). We have inherited values & principles and taken over +133 years’ legacy forward to empower millions of Indians in their grit & determination to rise above their ordinariness towards an aureate tomorrow. With around 4200 branches across India, we endeavor to serve over 1,00,000 customers a day. Including our other Group-companies products, we offer our target customer an extensive array of financial products & services, like Gold Loans, Small Business Loans, Affordable Housing Loans, Two wheeler Loans, Used-car Loans, Domestic Money Transfer, International Remittance, Foreign Exchange, Insurance Products & Services, Wealth Management Services for the common, Affordable Gold Jewellery and more. Each of these 4200 or so branches is like a financial super-market helping our customer in fulfilling most of their requirements under one roof.

History

Muthoot Pappachan Group, more popularly known as Muthoot Blue, takes its name from its family, which is a branch of a traditional Orthodox Christian family, based in Kozhencherry, a small town in the erstwhile primary state of Travancore. (Kerala).

The first steps

In the year 1887, Muthoot Ninan Mathai (Patron Founder of the group), started humbly as a retail and wholesale trader of grains at Kozhencherry. The wholesale goods were supplied to the large Estates owned by British Companies. Later, understanding the unmet saving needs of the estates’ workers, Mr. Ninan Mathai, started the Chit Funds business with an aim to provide philanthropic services and give the workers an avenue for saving. What started as a saving tool for workers soon gained momentum and was floated to other residents of the estates. The business grew slowly but steadily along with its share of ups and downs.

Functioning out of a single office in Kozhencherry, Muthoot Ninan Mathai entered the gold loan business in the 1950s. He soon went on to become the largest player in Chits & Gold Loans. Even today, people from across the state are happy to come to Kozhencherry for gold loans & chits.

The growth of Muthoot Pappachan Group

The Late Muthoot Ninan Mathai had four sons, Ninan Mathew, M. George, M. Mathew and Mathew M. Thomas (Muthoot Pappachan) who were involved in the business from their childhood and later took over the family business. The amicable family partition took place in the year 1979 which led to the Genesis of Muthoot Pappachan Group (MPG), the founder of who was the Late Mathew M Thomas popularly known as Muthoot Pappachan.

Over the years, the Muthoot Pappachan Group has grown to become a significant entity in the Indian business landscape. “A journey of a thousand miles begins with a single step”. True to this adage, the group which has roots in retail trading, later diversified into various sectors including Financial Services, Hospitality, Automotive, Realty, IT Services, Healthcare, Precious Metals, Global Services and Alternate Energy.

Where we stand today

Currently Muthoot Blue has 24,000 employees, serving over 5 million customers through its 4200 branches across the country. Our customer-centric approach and innovation in terms of new products that cater to changing customer needs, have helped in winning the loyalty of innumerable customers, as well as in attracting new ones. Adopting the latest technology and new ways to serve customers, without compromising on basic principles and ethics we have been following since our inception, is what forms the backbone of the Group.

Our unwavering focus on Philanthropy

Muthoot Blue has grown to encompass unimaginable proportions. Armed with a commitment to society, the Group set up the Muthoot Pappachan Foundation (MPF), a Public Charitable Trust – the CSR arm of MPG that has touched thousands of lives through its diverse programs. The CSR initiatives of Muthoot Blue revolve around the theme HEEL, covering Health, Education, Environment and Livelihood.

The Group has established a business without boundaries, where challenges are considered the stepping-stones to progress. The Muthoot Pappachan Group strives to take the world forward and with perseverance, commitment, and sincerity, and we know, the possibilities are infinite!

Visit the corporate website of Muthoot Pappachan Group to know more about the group: www.muthoot.com