New Jersey: Muthoot Finance, a name synonymous with safe investment, is gearing up to expand the US operations with new programs and opening branches in major cities. Muthoot Group Managing Director George Alexander Muthoot himself announced this welcome news at a press event.
Muthoot Finance USA currently has a branch at Oak Tree Road, New Jersey. Another branch will be opened soon in New Hyde Park, Long Island, New York.
Muthoot Finance is a company with assets of Rs 60,000 crores in India. That is about eight billion dollars. There are more than three lakh shareholders. 73 percent of the company is owned by the Muthoot family.
George Alexander is the youngest of the brothers. He is a chartered account by profession and now holds the positions of the MD and CEO of Muthoot Group.
The firm is registered with the Banking and Insurance Department. The company offers all types of financial facilities from to its customers such as personal loans, business loans, emergency loans etc.
A new facility of online money transfer through web and mobile app has also been set up under the brand name Muthoot Global Pay. You can transfer money to any place in India from the US. Initially, this service will be available for India, but later it will also be available in other countries through the app. Muthoot Group is the first Indian company to launch online money transfer in the US. With the availability of online services, people can send money to their desired destinations without having to go to the office with money.
You can also send money to other countries like Bangladesh, Nepal, Mexico, Colombia and African countries through Muthoot Finserve USA. Key feature of it is a tie-up with major banks and financial institutions like Xoom, PayPal, Remitlee, Golden Money Transfer, Thunes, Titans, Federal Bank and South Indian Bank.
The company has also provided the facility of currency exchange at attractive rates through its forex division. Currency of all major currencies can be exchanged through it.
Muthoot Group helps remittance from India to countries like UK and Canada for study and work related purposes. Bullet loan, a special service, can be paid in one go is also another attraction.
At present Muthoot has eight branches in Britain dealing with finance and money transfer. The foundation of Muthoot's bond is to satisfy everyone equally, be it shareholder, customer or borrower.
George Alexander Muthoot added that the cooperation of Malayalees in the USA is also expected in this field.
He also noted the stiff competition in the financial sector, yet customers look for Muthoot because of their prompt and reliable services. The company assures that people's time will be valued and the payment will be made as quickly as possible. Muthoot is the only finance company that answers customer queries round the clock even on Sundays.
The managing director also claimed that although the practice of lending money against the collateral of gold jewelry has existed for long, the Muthoot Group has brought a systematic approach to it. This business has grown outside of Kerala for 30 years. The company wooed even North Indians, who were reluctant to pawn their wife's gold, attracting them through advertising. The advertisements asked them if they do not feel hesitant to mortgage their house or homestead, what is wrong in mortgaging unused gold ornaments kept in lockers? The ad itself says from your locker to ours. These days, banks have also followed suit and are now providing gold loans.
Gold loan program is well progressing in England. The reason why it is so popular is that the money you need can easily come without asking for a loan from anyone else. Since there are many jewelers in the United States, the company has assessed that there is a lot of potential in this field to turn gold into a productive asset.
Muthoot's brand ambassadors are Amitabh Bachchan and Madhuri Dixit in North and Revathi in South.
Matthew Joseph, head of American operations, also pointed out that paying off credit card debts by pledging gold will increase your credit rating. Gold loan is the easiest and most beneficial loan.
Sunil Tristar, managing editor of Indialife, emalayalee and
Pravasichannel, Sunil Hali, publisher of The Indian Eye and Radio Zindagi and
Ilayas Quraishi, CEO of Parekh Media (ITV Gold, News India Times, Desi Talk) were
among the participants.
