Muthoot Microfin Limited is an Indian

microfinance Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings ...

institution (MFI), headquartered in

Kochi Kochi (), also known as Cochin ( ) ( the official name until 1996) is a major port city on the Malabar Coast of India bordering the Laccadive Sea, which is a part of the Arabian Sea. It is part of the district of Ernakulam in the state of K ...

. It primarily provides unsecured

microloans :''This article is specific to small loans, often provided in a pooled manner. For direct payments to individuals for specific projects, see Micropatronage. For financial services to the poor, see Microfinance. For small payments, see Micropayme ...

to women in rural areas. It is a part of

Muthoot Pappachan Group Muthoot Pappachan Group, also known as Muthoot Blue, is an Indian financial services conglomerate founded in 1887 by Ninan Mathai Muthoot. Headquartered in Trivandrum, Kerala, the group has a workforce of more than 26,000 employees across 4,2 ...

History

The microfinance business was originally established as a division of Muthoot Fincorp Limited in 2010. In December 2011, the Muthoot Pappachan Group acquired Pancharatna Securities Ltd, a non-banking financial company (NBFC) based in Mumbai, and subsequently rebranded it as Muthoot Microfin Limited (MML). In March 2015, Muthoot Microfin Limited (MML) obtained a microfinance institution (MFI) license as a non-banking financial company (NBFC-MFI) from the

Reserve Bank of India The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for ...

. In 2021, Muthoot Microfin Ltd launched Mahila Mitra app to help rural women beneficiaries with repayment.

Operations

Muthoot Microfin operates in 18 states with 1,172 branches and over 10,000 employees. As of March 31, 2023, Muthoot Microfin has a portfolio size of 9,200 crore with a borrower base of 2.7 million women entrepreneurs.

Ownership

Muthoot Microfin is predominantly owned by

Muthoot Fincorp Muthoot Pappachan Group, also known as Muthoot Blue, is an Indian financial services conglomerate founded in 1887 by Ninan Mathai Muthoot. Headquartered in Trivandrum, Kerala, the group has a workforce of more than 26,000 employees across 4,2 ...

and the Muthoot family, who collectively possess a controlling stake of 71% in the company. In addition, London-based private equity firm GPC (Greater Pacific Capital) holds an ownership interest of 16.6%, while Chicago-based private equity fund Creation Investments Capital Management holds 9.3%.

References

{{DEFAULTSORT:Microfin, Muthoot) Microfinance companies of India Financial services companies established in 2010 Indian companies established in 2010 Community development financial institutions Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange