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Muthoot Finance Ltd To Foray Into Home Loan, ATM Business-The Economic Times

Thursday, 6 Dec 2012 06:13pm EST 

The Economic Times reported that Kerala-based gold finance company Muthoot Finance Ltd plans to diversify into home loans and set up white-label ATMs in a bid to reduce risk from single sector exposure. Muthoot Finance primarily focuses on providing loan against gold ornaments. The Reserve Bank of India has advised the Company to redesign business model to derisk it. For setting up white-label ATMs, owned and operated by non-banking companies, Muthoot has sought approval of the RBI. Entry into this venture is expected to cost the Company INR200-300 crore. 

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2.75 +1.50%
23 Oct 2014