In
June 2012, the Reserve Bank of India had issued policy guidelines permitting
non-bank entities to set up and operate WLAs in the country after seeking
Authorization under the Payment and Settlement Systems Act, 2007.
Previously, only
banks were permitted to set up and operate ATMs in India.
The primary
objective of permitting non-banks to operate WLAs was to enhance the spread of
ATMs in semi-urban and rural areas (mainly tier III to VI cities/towns).
Muthoot Group
has a rich heritage of 127 years and has the largest Gold Loan Portfolio in
India.
The unique
feature of Muthoot Finance is the Inhouse gold evaluation. In India, 90% of the
families hold gold in ornament form rather than coins or bars. Apart from the
gold, the ornaments contain other precious stones too. Hence the Inhouse gold
evaluation is a win-win situation for Muthoot Finance as well as the customers.
Muthoot Finance
has ventured into the White Label ATM arena. Towards this end, it has unveiled its first ATM in
Mumbai-Maharashtra at Virar.
Virar part of Vasai-Virar Municipal Corporation is in
Thane district in the Indian state of Maharashtra.
The main
spiritual attractions of Virar are:
·
Jivdani Temple
·
Jain Temple
·
Vajreshwari temple
·
St. Peters Church
·
St. James Church
Muthoot Finance has a branch in
Virar East. Another nearby branch is in Vasai.
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