Branching Out Like a Banyan Tree: Muthoot Finance Spreads Roots with 115 New Locations!

India's gold loan NBFC, Muthoot Finance, has received the Reserve Bank of India's (RBI) approval to open 115 new branches throughout the country. The expansion after a gap of almost three years will take the branch network of Muthoot to more than 5,000 branches throughout the country. The expansion will help deepen the company's presence among underbanked and underserved customers in South and North India. George Alexander Muthoot, MD of Muthoot Finance, was upbeat on the expansion and forecasted 12-15% growth in gold loans in FY26. The new outlets will become functional within two months and provide jobs to about 460 individuals.

 

Sources: Economic Times, Business Standard