NEW DELHI: Muthoot Group Chairman MG George Muthoot died on Friday at his residence in Delhi. He was 72 years old. Muthoot Finance is the country’s largest gold loan non-banking financial company (NBCFC).
MG George Muthoot was a third-generation member of his family, who held the post of chairman of the Muthoot Group. He joined the family business Muthoot group at a young age and became its managing director in 1979.
He was a trustee of Orthodox Church and was also a member of the National Executive Committee of the Federation of Indian Chambers of Commerce and Industry (FICCI).
Not only this, George Muthoot was also the President of FICCI Kerala State Council. George Muthoot was one of the six Malayalis who made it to the Forbes magazine’s list of the rich last year.
It is being told that under the leadership of MG George Muthoot, the company expanded to more than 5,000 branches and more than 20 different businesses worldwide.
Not only this, under the leadership of MG George Muthoot, the flagship of the group, Muthoot Finance Ltd, became the largest gold loan company in India with a market capitalisation of over Rs 51,000 crore and a total income of Rs 8,722 crore.