Thu. Mar 28th, 2024
Thomas John Muthoot, Chairman, Muthoot Pappachan Group, and MD, Muthoot Fincorp Ltd

On Thursday, Muthoot Fincorp Ltd. announced that as per RBI Directives, it will start operations on a select few branches, all across India. However, Reserve Bank of India (RBI) has permitted them to resume their money transfer services only.

Thomas John Muthoot, Chairman, Muthoot Pappachan Group, and MD, Muthoot Fincorp Ltd, said MTSS (Money Transfer Service Scheme) services are predominantly availed by the general public, who often depends on money sent by relatives working elsewhere. However, due to the lock-down, MTSS services were affected, he added

Chairman Muthoot observed that certain guidelines, issued the the Ministry of Home Affairs, has let RBI sanction Financial Institution to provide specific services to public.

From tomorrow, Muthoot Fincorp will start re-opening limited branches across the country. Meanwhile, in Kerala, select branches are already back in business from today. The selection of branches is based on how far the area has been affected by the coronavirus pandemic. The branches are only re-opened under directives from local authorities. Muthoot has assured that staff will adhere to strict health and hygiene guidelines and protocol, in these branches and customers have to, as well.

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