Expands the reach of gold recycling to 12 cities across India
Muthoot Gold Point, the precious metal arm of business conglomerate Muthoot Pappachan Group (also known as Muthoot Blue), today launched its 2nd Mobile Muthoot Gold Point in Bangalore to strengthen its focus in the Southern region. With the first Gold Point centre launched in Coimbatore in 2015, Muthoot Gold Point has steadily expanded to Ahmedabad, Bengaluru, Chennai, Delhi, Kolkata, Ludhiana, Madurai, Vijayawada, Behrampur, Ernakulum (Kochi), and Trichy.
The Mobile Muthoot Gold Point in Bangalore will be the 2nd such vehicle in India for purchasing gold from the customers’ doorstep after Mumbai and will expand the reach to provide customers with absolutely scientific, transparent and most customer-centric process & equipment for testing, assessment, valuation and payments for customers’ gold. We also have a Gold Point Centre located in MG Road in Bangalore. Muthoot Gold Point has processes that ensure transparent, fair, precise and efficient buying of gold.
Muthoot Pappachan Group, through Gold Point, is the first venture, at a national level in the organised sector and get into the recycling of gold that is in line with the vision laid down by the Government of India for the Indian Gold Industry. The company intends to revolutionize the retail recycled gold segment with trust, transparency and accountability. Muthoot Pappachan Group, through its Gold Point Centres, buys old and used gold items directly from customers, reprocess, refines and supplies refined bars for domestic consumption, in line with Nation’s endeavour to reducing dependence on gold imports.
Commenting on the launch, Keyur Shah, CEO, Muthoot Gold Point said, Keeping in line with the vision of the Muthoot Pappachan Group, our focus remains on helping the common man to put their assets to productive use for their betterment, while encouraging recycling of gold, and thus contributing to the Government of India’s vision of reducing gold imports into the country.”
Highlighting the importance of the launch from a larger perspective, Mr Thomas Muthoot, Executive Director, Muthoot Pappachan Group said, “Recently, we have taken several strategic steps across all our businesses as a part of our transformation strategy. While we strengthen our presence nationally, Muthoot Pappachan Group’s strength & differentiation emanates from its core philosophy of gaining an intimate understanding of each customer’s needs & desires and then working out solutions to help change his or her life for better. Muthoot Gold Point is one of the fastest-growing businesses for us and our expansion comes at a time when the industry along with the aspirations of the common man is also growing. As is our avowed vision, we will continue to look at customer-centric endeavour to help to empower the common man towards achieving their aspirations.”
Muthoot Gold Point started its operations in 2013 and has grown significantly since then. The business specialises in pure, genuine and affordable jewellery with innovative payment & delivery solutions in the precious metal space, giving customers’ access to quality products that meet the highest standards at an affordable price and in effect, offer an unparallel savings option to people at large.
About Muthoot Pappachan Group
Muthoot Pappachan Group (MPG), also called Muthoot Blue, has been providing solutions, services and expertise of working intimately with its customers, to millions of customers, across the country. As a pan-India conglomerate the Group has much-diversified business interests and in particular, is a leader in a multitude of financial services products & services targeted largely at the common man; like Gold Loans, MSME Loans, Two-wheeler finance, Micro-finance, Affordable housing finance, Health Insurance and so on. Apart from Financial Services, the Group businesses encompass, Precious metals, Automotive Retail, Real-estate, Hospitality, IT, Sports ventures and others including varied CSR-initiatives. Over the years, Muthoot Pappachan Group has grown to become a significant entity in the Indian business landscape. Group’s customer-centric approach and innovation in terms of new products & services that cater to changing customer needs & desires have helped in gaining the trust & loyalty of customers, as well as attracting new ones. With the credo of ‘Empowering Human Ambitions’ at its core, the Group adopts the latest technology and products & services innovations, towards catering to the needs of customers, based on a deep understanding of the customers’ wants & desires, coupled with an uncompromising stand on values, principles and ethics.
Do visit us at www.muthoot.com and at www.muthootgoldpoint.com to know more about new brand philosophy, ‘Blue is Belief, and see our endearing #KahaaniBlueSochKi
Muthoot Exim Pvt. Ltd. (MEPL)
Muthoot Gold Point (MGP) is the precious metal vertical of the Muthoot Pappachan Group. It specialises in innovative products and offerings in the precious metal space. MGP was the first company to launch a gold recycling centre in the organised sector. With its first point centre launched in Coimbatore in 2015, it has gradually expanded to Ahmedabad, Bengaluru, Chennai, Delhi, Kolkata, Ludhiana, Madurai, Mumbai, Vijayawada, Ernakulam, Behrampur, and Trichy. These retail outlet chains are for gold aggregations and recycling. Muthoot Gold Point (MGP) buys scrap, old and used gold items directly from the customers and consequently reprocess, refine, and supply refined bars for domestic consumption that reduces gold imports. In addition to the 11 Muthoot Gold Point centres, the company also has 2 'Mobile Muthoot Gold Point' in Mumbai. This is India’s first such facility that can collect gold from customer’s doorstep. Customers have access to quality products that meet the highest standards, at an affordable price.