MUTHOOT CAPITAL SIGNED THE FINANCIER AGREEMENT WITH SUZUKI MOTORCYCLE INDIA PVT LTD

MARKET/FINANCE

Muthoot Capital Services Ltd

 enters into 

the Preferred Financier 

tie-up with

 Suzuki

Motorcycle India Pvt. Ltd.

by Shrutee Kate/DNS

Mumbai, May 11, 2015 – Muthoot Capital Services Pvt. Ltd, part of the 128 year old Muthoot Pappachan Group, has signed the Preferred Financier agreement with Suzuki Motorcycle India Pvt. Ltd., the subsidiary of one of the world's leading two-wheeler manufacturers, Suzuki Motor Corporation, Japan. Under the aegis of this tie-up, customers of Suzuki Motorcycle India Pvt. Ltd. will be able to avail vehicle finance related services from Muthoot Capital Services Ltd, one of the largest and most reputed Non Banking Finance Company (NBFC) in the country with its long and illustrious lending history.

The Memorandum of Understanding (MoU) was signed by Mr. R. Manomohanan, CEO, Muthoot Capital Services Ltd., and Mr. Rakesh Kumar, National Head – Sales Planning, Suzuki Motorcycle India Pvt. Ltd. at Cochin. The MoU will enable both Suzuki Motorcycle India Pvt. Ltd. and Muthoot Capital Services Ltd. to leverage on the inherent strength of each other’s vast network of over 800 touch points and 3800 financial services outlets respectively across India.

Speaking on the occasion, Mr. R. Manomohanan, CEO, Muthoot Capital Services Ltd. said, “Muthoot Capital Services Ltd is continuously expanding its operations in suiting the needs of all segments of customers through its various tailor made loan products. Suzuki Motorcycle is a great brand and by joining hands, we aim to take our services within arm’s reach of the customer, delivering value for money and making vehicle financing a hassle free and pleasant experience’’. This tie up will mutually benefit both the organizations by helping them extend better services to customers added Mr. Manomohanan.

Speaking on the tie-up, Mr. Rakesh Kumar, National Head – Sales Planning, Suzuki Motorcycle India Pvt. Ltd. said, “At Suzuki Motorcycles, we always look at options to provide the best value to our customers and offer them the power of choice. This strategic tie-up is a step in the same direction. Muthoot Capital Services Ltd. offers innovative  products and services at affordable rates, and we are hopeful of a good response from our dealers and customers.”

About Muthoot Capital Services Ltd

Muthoot Capital Services Ltd. (MCSL) is the first listed entity of Muthoot Pappachan Group. A Non Banking Financial Company (NBFC) listed on the Bombay Stock Exchange, MCSL offers financial solutions including Vehicle Loans (2 wheeler loans). MCSL is presently active in retail financing and caters to the requirements of borrowers both in rural and semi-urban areas. The Company's direct approach helps arrive at solutions that best suit the financial requirements of individuals and small entrepreneurs. The Company being a deposit taking ‘Category A’ NBFC, also accepts deposits from public at attractive rates of interest. The total number of two wheeler and three wheeler loans disbursed by the company so far in the last six years crossed 4,00,000 nos. The company is currently servicing more than 1,800 dealerships in seven states with a strong presence in Hero and Honda, which together contribute more than 80% of the total business.

About Muthoot Pappachan Group

Muthoot Pappachan Group (MPG), the 128 year old conglomerate has been providing solutions, services and expertise to lakhs of customers across the country in various domains like financial services, automotive, property, hospitality, and alternate energy.

Over the years Muthoot Pappachan Group has grown to become a significant entity in the Indian business landscape. Currently it has more than 20000 employees, serving over a million customers. MPG'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 attracting new ones. The Group adapts the latest technology and new ways to serve the customers, with an uncompromising stand on values, principles and ethics.

Muthoot Fincorp Ltd., the flagship company of Muthoot Pappachan Group, is one of the largest NBFCs in India, registered with the Reserve Bank of India. Muthoot Fincorp is a provider of mass finance in the form of gold loans. Decades of dedicated research and experience in rural strongholds have enabled the Company to provide quick and customized finance options and investment schemes for millions of customers who do not have access to mainstream commercial banks. Muthoot Fincorp is amongst the largest Gold Loan companies in India and has an average of 50,000 walk in customers per day. The company has a diverse mix of retail offerings catering to the various needs of its customers including Loan products, Money Transfer, Foreign Exchange, Insurance Services and Wealth Management Services.

Four years back the Company entered the affordable housing finance arena through a subsidiary – Muthoot Housing Finance Company Ltd (MHFL). MHFL caters mainly to the housing finance requirements of customers in the middle and lower income category. The Company offers housing loan, primarily to the people in the unorganised sector to make their dream of owning a home come true. Loan amounts range from Rs 3 lakhs to Rs 15 lakhs, with a loan repayment period up to 15 years and a loan to property value of up to 80%. MHFL offers loans for the purchase of ready property, house/flats under-construction, self-construction on own plot and home extension.

The Muthoot Pappachan Group firmly believes that financial inclusion of the economically weaker section of society is important for the socio-economic growth of the country. With that belief Muthoot Microfin Ltd., the micro finance business unit was launched by the Group. The company recently received the license from RBI for NBFC MFI. It follows the Joint Liability Group (JLG) model of micro-finance. Clients are organized in groups of five to ten women from economically weaker sections of society, living in rural and semi- urban areas or urban slums. Target clients are economically active women with regular cash flow through lawful, sustainable and stable economic activity. Under this program, each individual in a JLG is offered a loan between Rs 10,000 to Rs 15,000 depending on her repayment capacity, for a tenure of 52 weeks. It also fosters entrepreneurship skills among women and gives them basic financial literacy.

The Group has added to the tourist attractions of Kerala by setting up star hotels run by the Taj and Hilton Groups, Villa Maya the exclusive restaurant and Muthoot SkyChef the air catering unit, while contribution to Safe and Clean Energy comes in the form of electricity through wind farms and to Technology through the state of the art Muthoot Technopolis.   

About Suzuki Motorcycle India Pvt. Ltd.

SUZUKI MOTORCYCLE INDIA PRIVATE LIMITED (SMIPL) is a subsidiary of Suzuki Motor Corporation, Japan having the same manufacturing philosophy of VALUE PACKED PRODUCTS right from the inception. SMIPL manufactures two wheelers best suited for the valuable Indian customers covering all segments. SMIPL had installed its manufacturing plant in Gurgaon (Haryana) having the annual capacity of 5,40,000 units. Total land area of the facility at Gurgaon is 37 acres out of which the present plant is constructed in an area of 10 acres of land. The remaining area is left for land development and future expansion.