Showing posts with label Muthoot Pappachan Group. Show all posts
Showing posts with label Muthoot Pappachan Group. Show all posts

Muthoot Exim launches ‘’Mobile Muthoot Gold Point’’ for doorstep service

“India’s 1st Mobile Gold Buying Vehicle” to collect gold directly from customers

Mumbai, Oct 13 2016: In another first, Muthoot Exim Pvt. Ltd, the precious metals division of the 129-year-old Muthoot Pappachan Group, has launched ‘’Mobile Muthoot Gold Point,” which allows people to sell their old gold at their doorstep and convenience.

Muthoot Exim launches ‘’Mobile Muthoot Gold Point’’ for doorstep service

Muthoot Exim launches ‘’Mobile Muthoot Gold Point’’ for doorstep service

Further to the opening of nine  Muthoot Gold Point branches across India (Coimbatore, Chennai, Delhi, Mumbai, Kolkata, Ahmedabad, Bengaluru, Vijayawada and Madurai), in order to further facilitate the customer requirements of transparency and providing them with a standardised platform to sell their gold, the Muthoot Pappachan Group has launched this “Mobile Muthoot Gold Point Vehicle” to reach out to customers who want the convenience of being able to sell their gold in a transparent, safe and legal manner.

The ’Mobile Muthoot Gold Point’ is India’s first mobile gold buying vehicle to collect gold directly from customers at their doorsteps. The unit which was officially inaugurated in Mumbai on Oct 13, is an on-call service which reaches the doorsteps of those who want to sell their old gold.

The public can call on 7356534111 or 9321171122 for the mobile van between 10:30am to 7.00pm and fix an appointment at a mutually convenient time. The valuation of the old gold/ornaments will be done in the state-of-the-art mobile van which features XRF technology as well as melting of the gold (if required and agreed upon by the customers) to provide accurate valuation of the gold. Customers can get instant cash (for value up to Rs 20,000) or credit via IMPS, NEFT, RTGS (for value above Rs 20,000). Online payment will directly be credited to the customers’ account.

Thomas George Muthoot, Director, Muthoot Pappachan Group, said: “We have always been at the forefront of innovation and this is the latest in our endeavour to serve our captive as well as new customers. The move will also be in sync with the government’s vision to recycle as much gold as possible and our mobile van service will help facilitate it better. I am sure this latest innovation will be well received as it provides a hassle-free atmosphere for anyone wanting to sell their used gold.”

 Thomas Muthoot, Executive Director, Muthoot Pappachan Group, said: Through this initiative, we ensure fully transparent process and very competitive rates for the customers’ used/new jewellery. Already our Muthoot Gold Point has the distinction of being the first organised player in the country to foray into gold recycling. Similarly, I am sure that this latest offering from Muthoot Pappachan Group will be a revolution in gold business in the country.”

Keyur Shah, Chief Executive Officer, Muthoot Precious Metals Division said:  “Now people don’t even need to go out of their homes in order to sell their used/old gold in a safe & secure manner. The on-call vehicle features hi-tech equipment and safety measures with multi-level scientific testing of gold. They can see the step-by-step process of valuation themselves. This is a strategic initiative from our end which is in sync with the Government of India’s initiative to reduce dependence on gold imports and help consumers recycle their old/ unused “locker” gold’’.

Muthoot Exim has tied up with Sequel Logistics, the leading secured solutions provider with the largest network in India, for the security of the “Mobile Muthoot Gold Point” vehicle.

About Muthoot Exim - Precious Metals Divisions

Muthoot Exim specialises in innovative products and offerings in the precious metal space. Customers have access to quality products that meet the highest standards, at an affordable price.

The company’s flagship products are:

a. Swarnavarsham: A unique product, allowing customers to purchase hallmarked 916/995 pure gold jewellery of low ticket sizes (1.5 to 9.5 grams), in tamper proof packaging (a first of its kind in India).

b.  Swethavarsham: First of its kind, offering purchase of silver coins/bars and articles under spot and monthly payment basis.

c.  Muthoot Gold Point: First National level organised sector that allows to sell your gold in a transparent and efficient manner.

d. Corporate gifting: Muthoot Exim has set a new benchmark in Corporate Gifting by providing world class products with genuine purity and efficient service.

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Muthoot Pappachan Group launches Advanced Technology Vehicles in North for Emergency Response Team



* First of its kind service in the country

* A fleet of 133 vehicles with Advanced Technology systems are being inducted in the first phase

March 03 2016,  22.02 PM IST || Pocket News Alert

Delhi, March 03: 129-year-old diversified business group, Muthoot Pappachan Group has launched the advanced technology vehicles (ATVs) equipped with state-of-the-art e-surveillance systems for states of Delhi, UP, Haryana, Punjab and Rajasthan as part of rolling out its new security initiative that could cut down the security costs by over 50% for the corporates.

Muthoot Pappachan Group launches Advanced Technology Vehicles in North for Emergency Response Team


Shri Sevadas, Retd IPS officer, officially launched the ERT services at a function held in Delhi.

The use of Emergency Response Teams (ERTs), by the Group for their branches in the Southern states, resulted in much greater efficiency in the protection of their assets at reduced costs of security. Encouraged by the positives, the Group has set up a separate company MPG Security Group (P) Ltd, for a national roll-out of its unique innovative security initiative, ERTs.

ERTs is imbibed with the best practices followed globally, aiming at enhancing security while cutting down security costs by over 50%, by introducing advanced technology for surveillance and warning, and meticulously selected, professionally trained and well equipped manpower for response.
A fleet of 133 Advanced Technology Vehicles (ATVs) equipped with the state-of-the-art e-surveillance, monitoring and communication systems and specially trained able-bodied personnel have been inducted to expand the first of its kind services across the country in a phased manner.
Marking their entry into the Rs 20,000 crore private security industry, Muthoot Pappachan Group had started the ERT services in Kerala, Tamil Nadu and progressively extended deployment to Karnataka, Andhra Pradesh and Telangana a few months ago with a soft-launch.

The Company, which will give protection to around 1800 branches of Muthoot Pappachan Group’s flagship company Muthoot Fincorp in the south, will also extend cover to over 2100 branches of Muthoot Finance. Talks are already underway with other NBFCs, Banks/ATM operators and leading jewelers, who have security vulnerabilities.

Muthoot Pappachan Group have the distinction of being the first entrant in the country in this specialized field of service, prevalent in advanced countries, using a large fleet of ATVs, with state-of-the-art technology for the purpose of operational efficiency, enhanced security and cost optimization which is integral to the viability of any business. This state – of the – art solution utilizes complex technologies of Image Recognition, Artificial Intelligence and Internet of Things (IoT). MPG SG is tying –up with ideas and innovation Squared, a Technology Company focusing on these domains.
ERT is a cluster based (grouping vulnerable assets within a defined geographical area) mobile security initiative aimed at responding to any type of security threat with minimum delay. The heart, soul and body of the system are: -

     i. Electronic intrusion/fire detection and warning systems fitted in a vulnerable premise (Branches of NBFCs/Banks/ATMs/Jewellery shops or any vulnerable asset needing protection);

     ii. Carefully selected, specially trained and equipped manpower under Regional Control Rooms (14 RCRs Pan India and one Central Control Room in Trivandrum) and ERTs deployed to receive and respond to alarm calls with no loss of time;

    iii. Specially equipped Control Rooms, and Advanced Technology Vehicles with state-of-the-art surveillance and communication systems to direct, follow-up, monitor, supervise and, if necessary, intervene in the response operations.

ERTs, each consisting of three able bodied personnel in uniform, equipped with non-lethal weapons and a reliable ATV, will available at the disposal of RCRs from 9.30 pm to 5.30 am, to respond to alarm calls from Branches in a cluster (maximum 45 Branches per cluster) within less than 25 minutes of getting an alarm from a Branch.

The ERTs will conduct routine visits and random checks of Branches in a cluster, which not only serves as a deterrent, but also considerably enhances the local security. Our ERTs have prevented two major outbreaks of fire in Thrissur and Kozhikode by timely intimating Fire Force and Police about such outbreak and taking action to prevent the spread of fire by enlisting the support of local population.
Similarly, in Tamil Nadu, our ERTs have restored runaway children and women to their parents/family and handed over criminals indulging in house-breaking to Police. Therefore, ERT operations will also promote Home-Land Security and support the initiative of the State Police Organisation to keep crime under control.
“Apart from making the security system more pro-active, efficient and professional with induction of modern technology, this initiative will bring down the security costs of the business establishments by more than 50%” said Thomas John Muthoot, Chairman and Managing Director of the Muthoot Pappachan Group.
“The ERT service has a huge market potential. It is equipped to serve a diverse clientele from Banks to ATMs, and from commercial complexes to high-value asset locations. However, our first priority will be the financial sector comprising NBFCs and Banks. There are over 2 lakh ATMs in the country, which itself throws up a good opportunity for the Company. At a later stage, we may also cover high-value residential assets,” said Thomas Kurian, Vice President MPG Securities Pvt Ltd.
The MPG Security Group has the wealth of a pool of retired veteran Police/Security Personnel having rich and varied experience in the field of security. These veteran professionals are constantly engaged in finding viable solutions to security-related problems through analysis of crimes, designing preventive mechanisms, developing optimum operating procedures, induction of the latest technology and training of security personnel.
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Muthoot Pappachan Foundation has launched a unique collaborative venture for upliftment of the underprivileged Children in partnership with Magic Bus India Foundation

January 30 2016,  16.05 PM IST || Pocket News Alert

Kochi :(Jan 30) Aiming to leverage the power of activities and sports as an upliftment tool to provide underprivileged children with better learning and life enhancement opportunities, Muthoot Pappachan Foundation, the CSR arm of the 129 year old Muthoot Pappachan Group had launched the “Sports for Development” project in collaboration with renowned NGO, Magic Bus India Foundation. The program was launched  on January 30th in Kochi, Kerala. The formal launch program was graced by Smt. Soumini Jain, Hon. Mayor of Kochi. Olympian and Head of Kerala State Sports Council Padmasree Ms. Anju Bobby George  and Sri Hibi Eden, MLA were the chief guests. The directors of the Muthoot Pappachan Group and Senior officials from Magic Bus India foundation were also present.

In the initial phase, the Sports for Development endeavor, aims to train 4,500 children from Kochi and Trivandrum districts in imbibing critical life skills, helping understand the importance of health and hygiene and developing an unbiased attitude in matters related to gender and development. The project has been designed to aid in the holistic upbringing of the children and help them realize and unleash their true potential in the face of adverse socio-economic circumstances. 500 children who enrolled under the initiative from Kochi have performed a group energizer activity during the launch function.

“It is extremely important to channelize and harness the creative abilities of a child from an early age. We believe that activities and sports can be used as an effective tool in reaching out to these youngsters and bring out their latent talents and abilities to the fore. It is our firm belief that the collaboration with Magic Bus can go a long way in alleviating the socio-economic adversities faced by children from the underprivileged sections of society”, said Mr. Thomas Muthoot, Executive Director, Muthoot Pappachan Group.“This is a unique endeavor designed to empower the children in their journey towards becoming productive and law-abiding citizens” summed up Mr. Thomas Muthoot.

Commenting on the unique social collaborative venture with the Muthoot Pappachan Group, Ms. Natasha Ramarathnam, Regional Director- South, Magic Bus India Foundation said, ‘’We are really grateful to Muthoot Pappachan Group for partnering Magic bus in our journey to move 4500 children living in some of Kerala’s poorest neighborhoods from poverty and towards empowerment. Such long-term commitments by corporate partners are a crucial way in which we can evolve sustainable solutions to India¹s education and livelihoods challenges.’

Muthoot Pappachan Group has been in the forefront of initiating several social initiatives for bringing about a positive change in the lives of youngsters through an emphasis on activities and sports. The Muthoot Pappachan Group who are the title sponsor of the ISL Team Kerala Blasters FC, in its edeavour to support the grass root level football, is also sponsoring the Kovalam Football Club, who got selected to the Under 15 National youth league. The group is also promoting the Ernakulum Cricket Club (ECC) the majority of the players are from the economically weaker society. Recognizing the need to breed and nurture young sporting talent to turn them into the champions of future, Muthoot Pappachan Group is supporting, talented players like Jiyas the young cricketer who got selected to the Delhi Daredevils team and Haritha the bidding Badminton champion.

Since 1999, Magic Bus India Foundation has been working to move some of India¹s poorest young people from childhood to livelihood, by equipping them with the education they need to grow up to be successful. The program is delivered by youth leaders from the communities themselves, supported and trained through the mentorship program of Magic Bus. The organization's youth-centered livelihood program connects the aspirations and potential of young people to livelihood opportunities.

Muthoot Pappachan Foundation has launched a unique collaborative venture for upliftment of the underprivileged Children in partnership with Magic Bus India Foundation

Muthoot Pappachan Foundation has launched a unique collaborative venture for upliftment of the underprivileged Children in partnership with Magic Bus India Foundation

Muthoot Pappachan Foundation has launched a unique collaborative venture for upliftment of the underprivileged Children in partnership with Magic Bus India Foundation


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MRIBS Office Launch in Chennai




January 29 2016,  15.01 PM IST || Pocket News Alert


Chennai, January 29, 2016: Muthoot Risk Insurance and Broking Services Pvt Ltd (MRIBS)  the insurance intermediary promoted by Muthoot Pappachan Group has started it operation in Chennai.  The new office at Nandanam, Chennai  was inaugurated by Mr. Thomas John Muthoot, Chairman and Managing Director, Muthoot Pappachan Group.



“The company which aims to become a national player within the next three years is targeting a business volume of Rs 100 crores this financial year ; and we are confident that the Tamil Nadu region will play a key role in contributing to our overall ambitious business plans. We have started this new office in Chennai, with a view to serve the Group's vast customer base within the State”, said Mr. Thomas John Muthoot, Chairman and Managing Director, Muthoot Pappachan Group.



Muthoot Risk Insurance & Broking Services Pvt Ltd (MRIBS) is an insurance intermediary promoted by the well-known Muthoot Pappachan Group.  The company obtained an operating licence from the Insurance Regulatory & Development Authority of India (IRDA) in November, 2013.



The core activity of the company is to render professional advice to both individual and corporate clients on choosing cost-effective insurance plans. Experts are available to handle Life insurance as well as General insurance portfolios. Risk management, insurance claims handling and risk assessment surveys are the other areas in which the company's expertise is available to the insuring public.



MRIBS, with its Head Office in Trivandrum, commenced commercial operations in April, 2014. The second branch was inaugurated in Jayanagar, Bangalore, thus marking the company's expansion into Karnataka.  MRIBS has plans to expand into Andhra and Telangana regions before the end of this financial year.



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Muthoot Capital Services Ltd launches e-pay facility for Auto Loan Customers


October 23, 2015,  01.37 PM IST || Pocket News Alert

Enables Two wheeler loan customers to make easy and convenient online  payments of  Interest and Principal amount

Muthoot Capital Services Ltd launches e-pay facility for Auto Loan CustomersMumbai: Muthoot Capital Services Ltd., the listed NBFC of the 128 year old Muthoot Pappachan Group, launches e-payment facility for its auto loan customers, with a view to ease transaction process in tune with the times.

The large number of two-wheeler loan customers of Muthoot Capital Services Ltd can now repay the principal and remit the interest in bulk or part through the e-payment facility that would make transactions faster and easier. The services have been launched with the support of HDFC Bank, which owns the payment gateway.

“Ease of payment is as important as ease of getting a loan for a customer. The new service also reiterates our commitment to ensure maximum convenience to our customers. With this facility, our customers can now make payment into their two wheeler loan account, either by using their Debit Card or Net Banking facility’’ said Mr. Thomas George Muthoot, Managing Director, Muthoot Capital Services Ltd.

The e-pay facility will be made available on the website www.muthootepay.com where the customers can register themselves and make online payments, with just a click.
The 128-year-old Muthoot Pappachan Group had already introduced e-pay facility for the gold loan customers of its flagship company Muthoot Fincorp Ltd. from May this year.

You can make muthoot capital online payment at www.muthootcap.com

For more details, visit any Muthoot Capital Services Ltd. or Muthoot Fincorp Branches.
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Muthoot Pappachan Group owned Villa Maya wins Trip Advisor Travellers’ Choice Award


Ranked 03rd in India and 12th in Asia in Best Fine Dining Restaurants category

Mumbai, October 16 2015 : For every discerning food aficionado visiting our country, the experience of the savouring palate-tickling delicacies may now remain incomplete without a sojourn at the Villa Maya Restaurant, the 18th Century restored Dutch manor at Thiruvananthapuram.

The restaurant, owned by Muthoot Pappachan Group (MPG), has been ranked No.3 in India’s Best Fine Dining Restaurant category by Trip Advisor, the world’s largest travel portal, based on the traveller reviews about lakhs of restaurants across the country. Last year, it was ranked fourth in the category.

Indian Accent in New Delhi and Peshawri in Mumbai are the two toppers respectively in the Trip Advisor Travellers' Choice Awards for India’s 10 Best Fine-Dining Restaurants selected based on consumer reviews.

Villa Maya also has been ranked 12th among the Best Fine Dining Restaurants in Asia by the US-based rating portal.

“Our commitment to the finer traditions of customer satisfaction coupled with the assurance of an excellent culinary experience made us stand out. It is a feather in our cap, we are proud that the quality of our service has been recognised at the global level, especially when it comes directly from one of the world’s largest travel sites. We would like to thank all our patrons and promise to continue providing the best in service always”, said Mr. Thomas John Muthoot, Chairman and Managing Director, Muthoot Pappachan Group.

Housed in an 18th century Dutch manor which was once patronized by the Royal house of Travancore, the restaurant is a combination of the world’s best culinary experiences and a grand, timeless ambience which exudes warmth and hospitality.

For the last three years in succession, Villa Maya stands as the must-visit destination in Thiruvananthapuram as per Zomato, which has listed over 31,200 restaurants.

Villa Maya restaurant offers a variety of cuisines comprising Italian, French, Mexican and Moroccan, along with exquisite Indian and local Kerala cuisine especially in the seafood variety. It offers not just fine food, but a varied experience through the warmth of the staff, and tranquil, archaic, aesthetic architecture making dining the pleasure that it is.

The property is owned by MPG Hotels and Infrastructure Ventures Private Limited, the hospitality venture from the diversified 128-year old Muthoot Pappachan Group.

Trip Advisor Travellers’ Choice awards honours top restaurants in India based on the millions of algorithm that take into account the quantity and quality of reviews for restaurants gathered over a 12-month period

For more details visit:
http://www.tripadvisor.in/TravelersChoice-Restaurants-g293860-a_Mode.expanded
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Muthoot Gold Point Centre opens in Mumbai (Gujarati)


Muthoot Pappachan Group expands footprints in gold recycling
•             Muthoot Gold Point Centre opens in Mumbai
•             Plans another 3 more centres in this fiscal

Mumbai, September 22, 2015: Muthoot Exim Pvt. Ltd., precious metals division of the 128 years old Muthoot Pappachan Group (MPG), which was the first to launch gold recycling in the organised sector, plans to set up 7 Muthoot Gold Point centres by the end of this fiscal.

Muthoot Exim today extended its footprint in the Western India by opening Muthoot Gold Point in Mumbai. This is the fourth centre in the country, after Coimbatore, Chennai and Delhi.

Muthoot Exim is the first organised player to foray into gold recycling that would directly cut down the import of gold and control the account deficit, which the Government also in the recent times is aggressively pursuing through gold monetization schemes.

The company through its centres will buy old and used gold items directly from the customers and reprocess, refine and supply refined bars for domestic consumption, with an objective of reducing dependence on gold imports.

"Our idea is to launch three more such centres by March 2016. The next phase will include Telengana, Andhra Pradesh and Gujarat this year," said Mr. Thomas Muthoot, Executive Director of Muthoot Pappachan Group.

"It gives us immense pleasure to announce the launch of Muthoot Gold Point centre at Borivili in Mumbai. Muthoot Gold Point has a strategic significant importance, as it aligns with Government's objectives and supreme priority of keeping Current Account Deficit (CAD) under control, by garnering and channelizing domestic unused gold to productive use," said Mr. Keyur Shah, CEO, Muthoot Precious Metals Division.

According to estimates, gold recycling has not been tapped to its fullest in India and it mostly happens in the unorganized sector.

Elaborating on this new business, Mr Keyur Shah added, "We have tied up with Mumbai based Infinium Precious Resources Ltd for attaining technical training and also for refining the scrap gold''.


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Muthoot Capital Services Ltd. enters into the Preferred Financier tie-up with Suzuki Motorcycle India Pvt. Ltd.

Muthoot Capital Services Ltd. enters into the Preferred Financier tie-up with Suzuki Motorcycle India Pvt. Ltd.

 Mumbai : Muthoot Capital Services Pvt. Ltd, part of the 128 year old Muthoot Pappachan Group, has signed the Preferred Financier agreement with Suzuki Motorcycle India Pvt. Ltd., the subsidiary of one of the world’s leading two-wheeler manufacturers, Suzuki Motor Corporation, Japan. Under the aegis of this tie-up, customers of Suzuki Motorcycle India Pvt. Ltd. will be able to avail vehicle finance related services from Muthoot Capital Services Ltd, one of the largest and most reputed Non Banking Finance Company (NBFC) in the country with its long and illustrious lending history.

The Memorandum of Understanding (MoU) was signed by Mr. R. Manomohanan, CEO, Muthoot Capital Services Ltd., and Mr. Rakesh Kumar, National Head – Sales Planning, Suzuki Motorcycle India Pvt. Ltd. at Cochin. The MoU will enable both Suzuki Motorcycle India Pvt. Ltd. and Muthoot Capital Services Ltd. to leverage on the inherent strength of each other’s vast network of over 800 touch points and 3800 financial services outlets respectively across India.

Speaking on the occasion, Mr. R. Manomohanan, CEO, Muthoot Capital Services Ltd. said, “Muthoot Capital Services Ltd is continuously expanding its operations in suiting the needs of all segments of customers through its various tailor made loan products. Suzuki Motorcycle is a great brand and by joining hands, we aim to take our services within arm’s reach of the customer, delivering value for money and making vehicle financing a hassle free and pleasant experience’’. This tie up will mutually benefit both the organizations by helping them extend better services to customers added Mr. Manomohanan.

Speaking on the tie-up, Mr. Rakesh Kumar, National Head – Sales Planning, Suzuki Motorcycle India Pvt. Ltd. said, “At Suzuki Motorcycles, we always look at options to provide the best value to our customers and offer them the power of choice. This strategic tie-up is a step in the same direction. Muthoot Capital Services Ltd. offers innovative  products and services at affordable rates, and we are hopeful of a good response from our dealers and customers.”
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