“India’s 1st Mobile Gold Buying Vehicle” to Collect Gold Directly from Customers

 Muthoot Exim launches ‘’Mobile Muthoot Gold Point’’ for doorstep service

by Shrutee K/DNS

Mumbai, Oct 13: In another first, Muthoot Exim Pvt. Ltd, the precious metals division of the 129-year-old Muthoot Pappachan Group, has launched ‘’Mobile Muthoot Gold Point,” which allows people to sell their old gold at their doorstep and convenience.

Further to the opening of nine  Muthoot Gold Point branches across India (Coimbatore, Chennai, Delhi, Mumbai, Kolkata, Ahmedabad, Bengaluru, Vijayawada and Madurai), in order to further facilitate the customer requirements of transparency and providing them with a standardised platform to sell their gold, the Muthoot Pappachan Group has launched this “Mobile Muthoot Gold Point Vehicle” to reach out to customers who want the convenience of being able to sell their gold in a transparent, safe and legal manner.

The ’Mobile Muthoot Gold Point’ is India’s first mobile gold buying vehicle to collect gold directly from customers at their doorsteps. The unit which was officially inaugurated in Mumbai on Oct 13, is an on-call service which reaches the doorsteps of those who want to sell their old gold.

The public can call on 7356534111 or 9321171122 for the mobile van between 10:30am to 7.00pm and fix an appointment at a mutually convenient time. The valuation of the old gold/ornaments will be done in the state-of-the-art mobile van which features XRF technology as well as melting of the gold (if required and agreed upon by the customers) to provide accurate valuation of the gold. Customers can get instant cash (for value up to Rs 20,000) or credit via IMPS, NEFT, RTGS (for value above Rs 20,000). Online payment will directly be credited to the customers’ account.

Thomas George Muthoot, Director, Muthoot Pappachan Group, said: “We have always been at the forefront of innovation and this is the latest in our endeavour to serve our captive as well as new customers. The move will also be in sync with the government’s vision to recycle as much gold as possible and our mobile van service will help facilitate it better. I am sure this latest innovation will be well received as it provides a hassle-free atmosphere for anyone wanting to sell their used gold.”

Thomas Muthoot, Executive Director, Muthoot Pappachan Group, said: Through this initiative, we ensure fully transparent process and very competitive rates for the customers’ used/new jewellery. Already our Muthoot Gold Point has the distinction of being the first organised player in the country to foray into gold recycling. Similarly, I am sure that this latest offering from Muthoot Pappachan Group will be a revolution in gold business in the country.”

Keyur Shah, Chief Executive Officer, Muthoot Precious Metals Division said:  “Now people don’t even need to go out of their homes in order to sell their used/old gold in a safe & secure manner. The on-call vehicle features hi-tech equipment and safety measures with multi-level scientific testing of gold. They can see the step-by-step process of valuation themselves. This is a strategic initiative from our end which is in sync with the Government of India’s initiative to reduce dependence on gold imports and help consumers recycle their old/ unused “locker” gold’’.

Muthoot Exim has tied up with Sequel Logistics, the leading secured solutions provider with the largest network in India, for the security of the “Mobile Muthoot Gold Point” vehicle.

About Muthoot Exim - Precious Metals Divisions

Muthoot Exim specialises in innovative products and offerings in the precious metal space. Customers have access to quality products that meet the highest standards, at an affordable price.

The company’s flagship products are:

a. Swarnavarsham: A unique product, allowing customers to purchase hallmarked 916/995 pure gold jewellery of low ticket sizes (1.5 to 9.5 grams), in tamper proof packaging (a first of its kind in India).

b.  Swethavarsham: First of its kind, offering purchase of silver coins/bars and articles under spot and monthly payment basis.

c.  Muthoot Gold Point: First National level organised sector that allows to sell your gold in a transparent and efficient manner.

d. Corporate gifting: Muthoot Exim has set a new benchmark in Corporate Gifting by providing world class products with genuine purity and efficient service.