‘Muthoot Group will evaluate entry into banking sector’

Muthoot Group will definitely evaluate an entry into the banking sector, but will not convert Muthoot Finance Ltd, the flagship company of the group, into a bank.

M. G. George Muthoot, Chairman, made it clear that Muthoot Finance will never be converted into a bank even if the guidelines permit.

“If they (RBI) give a separate licence for the bank based on the work we have done in all these years, then we will go for it. We will only go for a separate bank,” he said.

“Banking licence is an interesting prospect. We will definitely evaluate it. But there has to be a strategic fit with existing lines of business,” said Alexander George Muthoot, Director, Muthoot Group.

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