Muthoot Group chairman MG George Muthoot passes away

George Muthoot joined the family business — Muthoot group — at a young age and became its managing director in 1979.

• By: ENS Economic Bureau
• Mumbai | Updated: March 6, 2021 07:28 AM IST
1 min read

Muthoot Group chairman MG George Muthoot passed away in Delhi on Friday evening. He was 72. (Source: http://www.muthootfinance.com/)

Muthoot group chairman MG George Muthoot passed away at the age of 72 in New Delhi on Friday.

He joined the family business — Muthoot group — at a young age and became its managing director in 1979.

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In 1993, Muthoot took over as the chairman of the group.

Under his leadership, Muthoot Finance Ltd, the flagship of the group, became the largest gold loan company in India with a market capitalisation of over Rs 51,000 crore and a total income of Rs 8,722 crore.

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