February 22, 2021, Mumbai: As part of the recently launched #RestartIndia campaign with an aim to empower small-time retailers, Muthoot FinCorp has further expanded its successful “Muthoot FinCorp Shopping Dhamakka” to the southern states. Having first piloted it in the state of Kerala that received an overwhelming response from retailers and customers, the shopping festival commenced again on January 18 and would continue till the end of February.
The outbreak of Covid-19 has created an unprecedented situation especially for the nano, micro and small retailers having severely impacted their businesses. In order to help them overcome the sluggishness of the business caused by the outbreak, Muthoot FinCorp’s RestartIndia initiative strives to help these retailers ride the Covid-19 wave by making it their mission to help to restart the Indian Small Businesses. The project aims includes tailor-made loan schemes, advisory services, and demand generation programs such as digital marketing training and Shopping Dhamakka. Spread across over 100 districts in the 4 South states, the Muthoot FinCorp Shopping Dhamakka, therefore, hopes to increase the footfalls and benefit over 50,000 of micro-retailers, encouraging the consumers to do some more shopping.
Spanned across the months of January and February, the Dhamakka has a range of prizes worth Rs. 25 lakhs. Moreover, weekly & bumper prizes also await the lucky customers that include various rewards and bonuses in the form of Gold Coins, LED TVs, Refrigerators, Honda Scooters, among others. In order to help support as many shopkeepers as possible, Muthoot FinCorp further aims to roll out / extend the campaign to the North and West of India.
Elaborating on the company’s initiative, Mr. Thomas John Muthoot, Chairman and Managing Director, Muthoot FinCorp said, ”We are extremely glad to be taking up this initiative as small – time businesses were one of the most vulnerable and threatened sectors to be affected by the pandemic. Our Restart Initiative, which was inaugurated by Nitin Gadkari, Union Minister for Road Transport & Highways and MSME on July 23, 2020, hopes to convert the challenges that the retailers faced into one filled with a positive future where they can restart their businesses and take care of their families. Through specially curated Interest Free Gold Loan scheme, we have disbursed Rs.255.64 cr. to small retailers. We hope to continue with our momentum and plan to roll out Shopping Dhamakka across all Indian States in the near future”.
Started in August 2020 in Kerala, the Muthoot FinCorp Shopping Dhamaka had directly benefited more than 25,000 Covid-stricken shopkeepers in Kerala. With nearly 15 lakh customers that took part/registered for the shopping festival, they were given Muthoot Fincorp's gift coupons for purchases ranging from Rs.100/Rs.500 and winners were chosen through a weekly draw of lots.
About Muthoot Pappachan Group:
Muthoot Pappachan Group (MPG) also known as Muthoot Blue, the much-diversified business conglomerate has been providing solutions, services and expertise to millions of customers across the country in various domains like multiple NBFCs with multiple products within Retail Financial Services, wide-spectrum Sports initiatives, powerful CSR initiatives, Automotive, Realty, Hospitality, IT and Alternate energy. Over the years, Muthoot Pappachan Group has grown to become a significant entity in the Indian business landscape. Muthoot Pappachan Group is one of the largest employers in the country, across industries, providing employment to close to 27,000 people and endeavouring to give them a family-like work environment. The Group’s customer-centric approach and innovation in terms of new products that cater to changing customer needs have helped in gaining the loyalty of innumerable customers, as well as attracting new ones. The Group adopts the latest technology and new ways of catering to the needs of customers, coupled with an uncompromising stand on values, principles and ethics.
About Muthoot FinCorp Ltd.:
Muthoot FinCorp Ltd, the flagship Company of Muthoot Pappachan Group, Muthoot Blue, is one of the largest NBFCs in India with around 3600 branches pan India. Muthoot FinCorp is a provider of retail finance, predominantly in the form of secured and unsecured loans to middle and low-income customers. Decades of customer-centricity, dedicated research and experience with the customers and their families have enabled the Company to provide quick and customised financing options & investment schemes for millions of customers. Currently, it has an Active Customer Base of around two million happy customers. Muthoot FinCorp Ltd is one amongst the largest Gold Loan companies in India. At the same time, the Muthoot FinCorp branches offer and/or service products of Muthoot Blue Group company, for the fulfilment of all lifecycle & life-stage needs of the common man and so, act as one-stop-shop for financial needs of the common man. The diverse mix of retail offerings includes, apart from Gold Loan, Small Business Loan products, Affordable Housing Loan, Two-wheeler Loan, Used car loan, Domestic &International Money Transfer, Chits, Foreign exchange, Insurance products & services, Wealth Management services, Affordable Gold Jewellery and so on. Close to 1,50,000 people walk into these branches, day after day, for the fulfilment of their financial needs & desires in terms of Loans, Savings, Protection requirements and other Financial transactional/day-to-day needs.
Do visit us at www.muthoot.com