Muthoot Finance diversifying loan book to make customers 'stick': MD

Firm will not sell gold loans to asset reconstruction companies as the RBI is 'not comfortable', says George Alexander Muthoot

Muthoot Finance will not sell gold loans to asset reconstruction companies as the regulator is “not comfortable”, says GEORGE ALEXANDER MUTHOOT, managing director of India’s largest gold loan nonbanking finance company (NBFC). The company had a consolidated asset under management of Rs 89,079 crore, as on March 31, 2024. Muthoot, in a telephonic interview with Manojit Saha, spoke about diversifying business and the loans industry. Edited excerpts:

What is the growth projection for gold loans for the current financial year?

We always give a guidance of 15 per cent but in practice we do more. Last year loan