Post Budget comment from Muthoot Fincorp Ltd. on Gold Monetization

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Post-budget comment from Mr. Thomas John Muthoot, Chairman and Managing Director, Muthoot Fincorp Ltd., “All three gold related announcements made by FM in today’s budget are towards bringing out the locker gold into the formal system and facilitate transparency in the recycling sector and also reduce the dependency on imports. It is a very welcome move.

We will have to wait for the details to come out in regards to these announcements and the proposed guidelines issued for implementation of the same.

We at MPG have already started to act in this direction with the Muthoot Gold Point initiative at the ground level in a transparent and professional manner that is beneficial to end consumers which in turn also has an impact at the macro level (recycling activities that will over a period of time reduce dependency on imports). ‘’

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