Tuesday, August 14, 2012

Muthoot Finance aims to double money transfer payouts


Money transfer player Muthoot Finance Ltd, which accounted for two million payouts to customers last year, aims to double it by next year, a top company official said today.
Muthoot is the largest distributor of remittances after the Post office, company officials said.
About Rs 75,000 crore is coming to India every year by money transfers with Muthoot Finance accounting for 10 per cent of it.
"We want to double this by next year," Bijumon, Chief General Manager and George M George, Executive Director, said.
In Kerala, Muthoot pays out Rs 3,000-4,000 crore every year through its 3,800 money transfer payout centers across the country.

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