Muthoot Microfin Limited Company Profile: Products, Promoters and Clients

Muthoot Microfin Limited Company Description:

Muthoot Microfin Limited (MML), the microfinance arm of the Muthoot Pappachan Group, is a leading and rapidly growing microfinance institution (NBFC-MFI) in India. Focused on empowering women entrepreneurs, MML provides micro-loans primarily in rural regions to foster entrepreneurship and inclusive growth. 

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The company's microfinance operations are designed to offer financial assistance through income-generating loans to women engaged in small businesses, aiming to deliver financial services to underprivileged and disadvantaged individuals in rural sectors quickly, affordably, and with minimal hassle. MML adopts a joint liability group model of microfinance, exclusively catering to women in lower-income households, enabling them to identify new opportunities and enhance their income.              

Q1. What are the Product and service offerings of the Muthoot Microfin?

Muthoot Microfin Limited offers a diverse range of products and services aimed at economically empowering women entrepreneurs, especially those from rural areas and urban slums. The main products and services include:

1- Income Generating Loan (IGL): Principal loan product for women in rural areas to provide capital for small businesses. These loans, backed by group guarantees, support various business sectors and are offered in different cycles for both initial investment and business expansion.

2- Life Betterment Solutions:

  • Education Loan (Muthoot Shiksha): Supports the primary and secondary education of borrowers' children, provided to customers with an excellent repayment track record.
  • Mobile Phone Loan: Facilitates access to mobile phones, which can be essential for business and personal communication.
  • Solar Lighting Product Loan: Promotes the use of solar lighting solutions, particularly beneficial in areas with unreliable electricity.
  • Household Appliances Loan: Assists in the purchase of essential household appliances, improving the quality of life.

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3- Health and Hygiene Solutions:

  • Sanitation Improvement Loan: In line with the Government of India’s Swachh Bharat initiative, these loans support house water connections, toilet improvements, water purifiers, and toilet construction to enhance sanitation and overall well-being.

4- Value Added Services:

  • Sampoorna Swasth Shield: A wellness combo insurance offering that includes telemedicine, e-clinic facilities, free over-the-counter medicines, hospital cash benefits, and personal accident cover for the applicant and co-applicant.
  • Griha Suraksha Shield: Insurance and protection services designed to offer additional security to customers.

Q2. Who are the Promoters/Management of the Muthoot Microfin Limited?

Muthoot Fincorp holds 50.21% stake in a company.

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Q3. Who are the Clients of the Muthoot Microfin Limited?

Muthoot Microfin Limited (MML) primarily serves economically disadvantaged women entrepreneurs in rural areas and urban slums, aiming to empower them with formal financial services. With 3,353,161 active customers and ₹12,193.50 Crores in Assets Under Management, MML has disbursed ₹40,525 Crores across 1,508 branches in 19 states and Union Territories, spanning 353 districts.

The company's focus on rural regions ensures financial inclusion and socio-economic development. Through initiatives like the MML Customer App, which has been downloaded 1,629,629 times, MML enhances access to financial resources and supports entrepreneurship among underserved communities, thereby improving their standards of living.

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Written By: Khush Kothari