Muthoot Microfin Strengthens Pan India Presence, Starts Operations in Telangana
These branches will strategically serve locations including Bhuvanagiri, Jangaon, Hanmakonda, and Parakala, enhancing accessibility to financial services.
New Delhi: Muthoot Microfin, a leading microfinance institution committed to fostering financial inclusion, announced its foray into Telangana. The first phase of the expansion will see the inauguration of 4 branches across Telangana in March 2024.
These branches will strategically serve locations including Bhuvanagiri, Jangaon, Hanmakonda, and Parakala, enhancing accessibility to financial services. Subsequently, Muthoot Microfin plans to further establish branches in Andhra Pradesh by June 2024, reinforcing its commitment to advancing financial inclusion in the two states.
This initiative aims to not only provide financial services but also contribute to the socio-economic development of the communities in these regions. By scaling its operations, the company is reaffirming its dedication to empowering women and, thereby, serving a broader societal spectrum. The development will also boost employment generation in the region, through active recruitment and training of local talent through skill-building initiatives.
Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoYMuthoot Microfin Ltd. is a part of Muthoot Pappachan Group (also known as Muthoot Blue). It has inherited values, principles of integrity, collaboration, and excellence to take forward the legacy of 133+ years.
Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail depositsThe microfinance operations of the Company are designed to promote entrepreneurship among women and inclusive growth. It provides financial assistance through microloans such as income-generating loans to women engaged in small businesses.
It is involved in delivering financial services to the masses including underprivileged people, living in the rural sectors of Indian society at affordable terms, in quick turnaround time, and with hassle-free processing is the aim of our financial inclusion drive.
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