Muthoot Blue (or Muthoot Pappachan Group), with a reputation that has been shaped over decades with high quality practices, total customer satisfaction and steady growth in the field of business, built on God-given values of trust, truth, transparency and tradition and has become one of the top business houses today by the grace of God.
Muthoot takes its name from its Family, which is a branch of a traditional Orthodox Christian family, based in Kozhencherry, a small town in the erstwhile primary state of Travancore. (Kerala). In the year 1887, Muthoot Ninan Mathai (Patron Founder of The Group - Muthoot Blue), started in a humble way as a retail and whole-sale trader of grains at Kozhencherry. These wholesale goods were mainly supplied to the large Estates owned by British Companies. Later, understanding the unmet saving needs of the estates workers, Mr. Ninan Mathai, started the Chit Funds business on a philanthropic motive, as an avenue for saving. Initially, it was started solely for the workers, but later was floated outside the estate. The business grew slowly but steadily along with its share of ups and downs.
Functioning out of a single office in Kozhencherry, Muthoot Ninan Mathai entered the gold loan business in the 1950�s. He soon went on to become the largest player in Chits & Gold Loans. Various people across Kerala came to Kozhencherry for gold loan & chits.
The Late Muthoot Ninan Mathai had four sons, Ninan Mathew, M. George, M. Mathew and Mathew M. Thomas (Muthoot Pappachan) who were involved in the business from their childhood and later took over the family business.
The family partition took place in the year 1979 which led to the Genesis of Muthoot Pappachan Group (MPG), the founder of who was the Late Mathew M Thomas popularly known as Muthoot Pappachan. Though the different Muthoot Groups are into the same businesses, there exists an excellent relationship as well as a healthy competition among the cousins.The three sons of Late Muthoot Pappachan are Thomas John Muthoot (Chairman & Managing Director) Thomas George Muthoot (Director) & Thomas Muthoot (Executive Director) who presently manage The Group � Muthoot Blue.
Over the years, the Muthoot Pappachan Group has grown to become a significant entity in the Indian business landscape. "A journey of a thousand miles begins with a single step". True to this adage, The Group � Muthoot Blue which planted its roots in retail trading, later diversified into various sectors including Financial Services, Hospitality, Automotive, Realty, IT Services, Healthcare, Precious Metals, Global Services and Alternate Energy.
Currently Muthoot Pappachan Group has over 24,000 employees, serving the average 1,00,000 daily customers through over 4,200 branches across the country. Muthoot Pappachan Group�s customer-centric approach and innovation in terms of new products that cater to changing customer needs, have helped in winning the loyalty of innumerable customers, as well as in attracting new ones. Adopting the latest technology and new ways to serve customers, without compromising on basic principles and ethics that it has been following since its inception, is what forms the backbone of Muthoot Pappachan Group.
Muthoot Pappachan Group has grown to encompass unimaginable proportions. Armed with a commitment to society, The Group � Muthoot Blue set up the Muthoot Pappachan Foundation (MPF), a Public Charitable Trust - the CSR arm of Muthoot Pappachan Group that has touched thousands of lives through its diverse programs. The CSR initiatives of Muthoot Pappachan Group revolve around the theme HEEL, covering Health, Education, Environment and Livelihood.
Muthoot Pappachan Group has established a business without boundaries, where challenges are considered stepping stones to progress. The Muthoot Pappachan Group strives to take the world forward and with perseverance, commitment and sincerity, the possibilities are infinite!
Muthoot Exim, the precious metal vertical of the Muthoot Pappachan Group, specialises in innovative
products and offerings in the precious metal space. Customers have access to quality products that meet
the highest standards, at an affordable price.
The company�s flagship products are:
