Muthoot Finance Limited (NSE: MUTHOOTFIN, BSE: 533398), one of India’s leading gold loan companies, today announced that it has received permission from the Reserve Bank of India (RBI) to open 115 new branches across the country. The approval letter from the RBI is dated February 25, 2025.
This expansion will significantly strengthen Muthoot Finance’s presence and accessibility, allowing it to serve a wider customer base and further consolidate its position in the gold loan market. The company had applied for permission to open these new branches in a letter dated November 28, 2024.
In its approval, the RBI has advised Muthoot Finance to ensure suitable arrangements for security and storage of gold jewellery, including safe deposit vaults, as per existing regulations. The company is also required to inform the RBI of the details of the branches that are opened.
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Muthoot Finance’s receipt of RBI approval to open 115 new branches signifies a major expansion phase for the company. This strategic move is expected to enhance its market reach, provide greater accessibility to its gold loan services, and contribute to its continued growth and success in the financial sector.
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Published on: February 25, 2025 at 10.40PM GMT.
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As stated in Bhagavad Gita : (Bhagavad Gita 6.34)
चञ्चलं स्मितं मनः कृष्ण प्रमाथि बलवद् दुरगं।
The mind is restless, turbulent, obstinate, and very strong.
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