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Muthoot Fincorp Ltd, the flagship company of the Muthoot Pappachan Group, has welcomed the RBI’s draft guidelines for licensing of payments and small banks.
Thomas John Muthoot, Chairman and Managing Director, said the RBI guidelines are a positive move towards introducing basic banking facilities for the unbanked population.
“With our 3,831 branches across the country, we are reaching out to customers from various segments, including the informal and unbanked,” he said
The company is in the process of evaluating the impact of possible transformation into a bank and would arrive at a decision after a formal internal review, he added.
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