Latest news with #MuthootFincorp
Business Standard
28-05-2025
- Business
- Business Standard
Winners of AmbitionBox Employee Choice Awards 2025 Announced: Celebrating India's Most Loved Workplaces
VMPL New Delhi [India], May 28: AmbitionBox, India's No. 1 platform for company reviews and salary insights, has announced the ABECA 2025 - AmbitionBox Employee Choice Awards, the largest employee-driven workplace awards in the country. Now in its fourth edition, ABECA 2025 honors 127 companies across 16 categories, based on 12 lakh employee reviews. Only reviews from employees who worked in the company during calendar year 2024 were considered, making the awards an authentic reflection of workplace culture and employee sentiment. Unlike traditional awards, ABECA has no jury. Winners are decided solely by employees, giving a voice to those who matter most. The awards span across company sizes and sectors--from tech startups to manufacturing giants--recognizing those that put employee well-being and culture first. This year's spotlight continues to recognise Top-Rated Companies for Women as a special category, celebrating employers that lead on diversity, work-life balance, and career growth for women professionals. "ABECA is more than an award--it's a movement powered by real employee voices," said Mayur Mundada, Founder & Business Head, AmbitionBox. "We're proud to champion companies that truly prioritize people." Notably, non-tech companies once again dominated the top spots in key categories. Here's a snapshot of the big winners: * Top-Rated Mega Companies (50,000+ employees): Mahindra & Mahindra, Tata Steel, Shriram Finance, Reliance Industries, L & T * Top-Rated Large Companies (10,001-50,000 employees): Muthoot Fincorp, Equitas SFB, Hindalco, Lupin, Schneider Electric * Top-Rated Mid-Sized Companies (500-10,000 employees): DB Power, Kogta Financial, Prince Pipes, V-Guard, Tietoevry * Top-Rated Tech Startups (501-1,000 employees): Zetwerk, Udaan, Wakefit, PhonePe, Zypp Electric * Top-Rated Companies for Women: Amazon, LTIMindtree, IBM, ICICI Bank, Muthoot Fincorp Awards were also announced across 11 key industries, including IT/ITES, Internet/Product, Banking, Pharma, Retail, and more. Explore the full ABECA 2025 Winners List on AmbitionBox. About Ambition Box: AmbitionBox is India's No. 1 platform for company reviews and salary insights, which boasts 1.5 crore registered users, 80 lakh reviews, and 4 crore salary insights, underscoring the platform's credibility and reach. It is an online platform for users to search and share company reviews, salaries, interview questions, and more. Launched in 2015, the platform benefits both job seekers and employers, offering employers to improve their employer brand through various tools, encourage employee reviews, showcase their work culture, amplify their employer brand, and gain actionable insights about their company from genuine feedback.
Time of India
02-05-2025
- Business
- Time of India
Gold-loan fintech firms spot a glimmer in RBI's draft rules
Live Events As the Reserve Bank of India strengthens its rules of governance around the gold loan sector , new-age fintech firms are sensing an opportunity either through partnerships with banks and non-banking lenders or by scaling up on their April 9, the RBI issued draft guidelines to harmonise the regulatory framework for gold loans , strengthen aspects around the conduct of gold loan lenders and also address regulatory concerns observed around the new lenders like L&T Finance and Poonawala Fincorp announcing their entry into the gold loan business over the last two months, startup founders believe that there will be fresh co-lending opportunities that will open up.'Co-lending is an opportunity for fintechs, many large fintechs which were only doing unsecured consumer lending are now seriously evaluating this space through co-lending partnerships with NBFCs and banks. This will also help them expand their secured credit offerings,' said the founder of a digital lending startup operating in this Rupeek, Chennai-headquartered Oro Money, Noida's Indiagold and Manipal Fintech of Gurugram are a few of the major startups operating in this space. Earlier this year Manipal Fintech onboarded Puja Abhishek Singh as its new chief executive officer. Singh joined the company from Paytm, where she was heading business lending startup Moneyview, which in September 2024 was valued at $1 billion through an internal funding round, is looking to start offering gold loans, said a person in the know. Moneyview did not respond to payments firm PhonePe, which is scaling up its credit operations, has begun acquiring gold loan customers for Muthoot Finance and Muthoot Fincorp through its mobile April, BankBazaar, which is primarily an unsecured loan sourcing platform, partnered with Muthoot Fincorp to source gold loan customers for the NBFC through digital channels. Muthoot Fincorp, a gold loan NBFC, also acquired a small stake in Bank Bazaar by investing Rs 15 crore.'We want regulatory stability and clarity; 65% of the gold loan market in India is not formally served yet. We want to do business properly, so the regulator's formal directives will only help us expand our network of fintech partnerships ,' Muthoot Fincorp CEO Shaji Verghese is estimated to have around 25,000 tonnes of gold holdings across its households and borrowing against gold jewellery is a very popular means of protecting families from sudden financial shocks. This is one of the reasons why everyone from high street lenders and gold lending NBFCs to new-generation fintechs have been chasing this market.'Overall, this circular will give more power to banks to create income generation gold loan products,' said the founder of another gold loan startup. Since the regulations are still in the draft stage, the founders remained regulations will help the sector get more organised, industry observers also believe that higher regulatory requirements might also dampen the growth prospects of some of the traditional lenders operating in this these NBFCs have mostly worked on a branch-led model where the gold is assayed physically and loan disbursal happens on the go, mandatory underwriting of the customer which the RBI has mentioned in the draft rules might make the disbursal process time consuming and like Perfios and others can actually help estimate the income of a customer through bank statements, but the question remains if these cost-sensitive NBFCs will open up to work with these players.'The RBI wants banks to undertake cash flow analysis of the customer, assess the income of the customer, but gold loans all these years have mostly been given on the value assessment of the gold. This extra step might become a barrier for these cost-conscious lenders,' said Siddharth Goel, director, non-banking financial institutions, Fitch believes that this will push NBFCs to only do consumption loans and stay away from income generation products. But gold loans have been the go-to product for shopkeepers who are typically not eligible for unsecured credit products; so how that market will be impacted remains the question.'Perhaps the new-generation NBFCs entering this space will approach the product differently and engage the services of fintechs. The traditional ones might not be so proactive with regards to fintech partnerships,' Goel said.
&w=3840&q=100)
Business Standard
23-04-2025
- Business
- Business Standard
Muthoot Fincorp picks nearly 1% stake in BankBazaar for Rs 15 crore
BankBazaar is also making an entry into the secured gold loan market in partnership with the gold loan focused NBFC Aathira Varier Mumbai Listen to This Article Muthoot Fincorp has made a strategic investment in BankBazaar by picking up around 1 per cent stake for Rs 15 crore in the latter's Series D2 round of fundraise to strengthen its digital platform. This deal values BankBazaar around Rs 1,700 crore. BankBazaar is also making an entry into the secured gold loan market in partnership with the gold loan focused NBFC. Under the partnership, BankBazaar will handle digital data management, digital marketing, product education, digital customer experience, credit score improvement via prudent financial literacy, and consumer education. Muthoot FinCorp will manage KYC compliance, verification, valuation, storage, loan disbursement and
Time of India
23-04-2025
- Business
- Time of India
BankBazaar raises Rs 55 crore; enters gold loan business with Muthoot Fincorp
Alongside the investment, Muthoot Fincorp has also partnered with BankBazaar in the gold loan business, allowing the online loan sourcing platform to enter secured lending. 'Customers will enquire about gold loans through BankBazaar and will eventually be serviced through our 3,700-branch network,' said Shaji Varghese, chief executive officer of Muthoot Fincorp. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Loan sourcing platform BankBazaar has raised Rs 55 crore in fresh funding from a group of investors, including gold loan company Muthoot Fincorp and existing backers such as Walden International. The funding was at a flat valuation of approximately Rs 1,700 crore ($200 million) for Fincorp pitched in with Rs 15 crore in this round. Speaking to ET, Adhil Shetty, cofounder of BankBazaar, said the investment is an extension of its previous funding round from December 2023.'The round hasn't closed yet; we're keeping our options open... The credit card distribution business has helped us grow, but overall it has been a tough funding environment,' Shetty said. BankBazaar offers a co-branded credit card with private sector lender Yes Bank BankBazaar has not filed its financials since FY24 and had last reported Rs 160 crore in revenue in FY23, according to data from Tracxn. Shetty said the company has grown its revenue at a compound annual growth rate of 46%, but did not disclose exact the investment, Muthoot Fincorp has also partnered with BankBazaar in the gold loan business, allowing the online loan sourcing platform to enter secured lending 'Customers will enquire about gold loans through BankBazaar and will eventually be serviced through our 3,700-branch network,' said Shaji Varghese, chief executive officer of Muthoot Fincorp. 'As we expand operations, collaborating with BankBazaar will help us identify new demand centres and plan our expansion accordingly.'Chennai-headquartered BankBazaar competes with PB Fintech-owned Paisabazaar, both being digital platforms sourcing unsecured consumer loans and credit gold loans, BankBazaar enters the secured lending space—a long-term goal for fintechs that have struggled to scale consumer lending amid regulatory by the likes of Amazon, Peak XV Partners and Eight Roads Ventures, BankBazaar—founded in 2008—has raised approximately $167 million. It last secured a major equity infusion of $30 million in 2017; since then, the company has largely raised smaller tranches across multiple rounds.
