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The Muthoot name comes from a traditional Orthodox Christian family in Kozhencherry, Kerala. Muthoot Ninan Mathai started in 1887 as a retailer and wholesale grain merchant. His business grew by the provision of goods to British estates. As he noticed worker struggles, he started a chit fund that addressed savings and credit needs. This subsequently grew into a successful gold loan vertical in the 1950s. Over the years, Muthoot Ninan Mathai's enterprise prospered, drawing visitors from everywhere in Kerala. The business was then passed down to his four sons, one of whom is Muthoot Pappachan, followed by the group amicably splitting up and forming the Muthoot Pappachan Group in the Late 1980s.
We are founded on the principles of Trust, Innovation, and Service. Our mission - to help generations lead secure and successful financial lives, remains as strong today as it was decades ago when visionary leaders first established our foundation.
In the year 1887, Shri Muthoot Ninan Mathai, patron founder of our Group, started the business in a humble way as a retail and whole-sale trader of grains at Kozhencherry, Kerala. These wholesale goods were mainly supplied to the large estates owned by British Companies. Subsequently, understanding the unmet saving needs of the estate workers, Shri Muthoot Ninan Mathai, started the Chit Funds business with philanthropic motive, as an avenue for saving. Functioning out of a single office in Kozhencherry, Shri 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.
"He held every hand that reached out to him. And led them to a better tomorrow." Shri Pappachan Muthoot was a simple and devout man, who espoused a nine-point formula that stood by him in realizing his goals - Love. Peace. Happiness. Kindness. Helpfulness. Patience. Pleasantness. Faithfulness and Self-control. These ethics have been a guiding light to the path of his successors and have permeated to every stratum of the Muthoot Pappachan Group. These values still govern every decision in the Group. When asked for his formula to success, he quipped, “unflinching faith in the Almighty and unshakeable determination to face and overcome challenges." In dire circumstances and sometimes in the face of loss, he was heard to quote that a debit on earth will be a credit in heaven. A man, known to adhere to his word, he instilled these values throughout the organization he nurtured.
