Muthoot Finance cautions against fraudulent gold loan companies

Muthoot Finance, the flagship company of India’s leading business conglomerate- The Muthoot Group, has cautioned people against fake Muthoot Finance schemes and advertisements.

In a recent instance, an individual fraudulently attempted to lure customers by issuing fraud advertisements in newspapers along with bogus Muthoot Finance
email-id. The advertisement further mentioned about providing personal loans on the strength of mark sheet and property documents by just sending the scanned copies of the same.

It also promised loan disbursement in just 24 hours with around 40% subsidy at the time of repayment of the loan.

Muthoot Finance, listed on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), advises customers and the general public to exercise caution against such fraudsters. Muthoot Finance has clarified that all its business transactions are done through its branch staff at the branches only.

Muthoot Finance strongly cautions the public against disclosing any personal details to any person who claims to represent Muthoot Finance or to have a relationship with the company.

Mr. Ranjit Singh, General Manager- Operations, Muthoot Finance Ltd said, “We are concerned about the consequences of such fraudulent practices for our customers in rural, semi-urban and urban areas. The company is looking into the matter and is also taking appropriate legal and punitive actions to curb fraudulent claims by fake companies and fraudsters.”

Customers are advised to verify the authenticity of such communication by referring to the Operations Department of Muthoot Finance at either the Head Office or the Corporate Office at the below mentioned phone numbers:

Head Office:               91-484 -2396478, 2394712
Corporate Office        +91 - 11 - 4669 7777

Muthoot Finance, with a strong network of 4200+ branches and dominantly spread across India, has a strong foundation, deeply rooted in the following pillars – Ethics, Values, Reliability, Dependability, Trustworthiness, Integrity, Goodwill and Corporate Governance. These pillars have helped the company grow into one of the largest NBFCs in India today.

About The Muthoot Group
The Muthoot Group has a family legacy of over 800 years and a history of business excellence of over 129 years. The origins of the Group can be traced back to 1887 when it started as a small trading business enterprise in Kozhencherry, a remote village in the state of Kerala.

Since its formation, the company, under the leadership of its key management - Shri M G George Muthoot (Chairman), Shri George Alexander Muthoot (Managing Director), Shri George Thomas Muthoot (Jt. Managing Director) and George Jacob Muthoot (Jt. Managing Director) has broadened its scale and widened its geographic scope of retail operations.