Kolkata: Muthoot Microfin, a part of the Muthoot Pappachan group, said that its net profit for the fourth quarter nearly doubled at Rs 102 crore, backed by robust business growth. Total income was at Rs 448 crore as compared with Rs 249 crore. Profit for the full year was Rs 203 crore against Rs 80 … Read more
Kolkata: Overseas private equity investors are making a beeline to raise their stakes in India’s small and micro lending landscape, which has turned around from the lows seen during Covid-19 and is again back on the growth track. In one of the biggest investments in the microfinance space in recent times, British International Investment along … Read more
How does rising gold prices help Muthoot and Manappuram? Suppose a person borrows from one of the gold financing players, and the prices of the metal rises, the value of the collateral used to secure the loan increases. This is because if a borrower comes with gold worth Rs 100 as collateral, the gold financing … Read more
MUMBAI: Banks shut their doors on small businesses; gold loan companies have laid out a red carpet for them. With gold hitting a record high, many small and medium enterprise (SME) owners are finding that their family stock of the yellow metal is excellent collateral. There’s been a 30-35% rise in daily gold loan applications … Read more