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The diversified Muthoot Pappachan Group (MPG) has set up a separate company, MPG Security Group, for nationwide rollout of emergency response teams, its pioneering security initiative.
It showcased here a fleet of 133 advanced technology vehicles equipped with the “best e-surveillance, monitoring and communication systems and manned by trained personnel.”
Huge market According to Thomas John Muthoot, Chairman and Managing Director, MPG, the emergency response team (ERT) service has a huge market potential in the country.
It is equipped to serve, among others, banks, ATMs, commercial complexes, and high-value asset locations. However, the first priority will be the financial sector, comprising NBFCs and banks.
Thomas Kurian, Vice-President, MPG Security Group, said that there are over two lakh ATMs in the country which itself throws up a good opportunity for the company. “At a later stage, we may also cover high-value residential assets.”
The national rollout is being attempted after the ERTs, launched in 2014-15 at the MPG branches in Kerala and Tamil Nadu, resulted in much greater efficiency in the protection of assets at reduced costs.
Cost-effective ERTs follow global best practices and aim at enhancing security while cutting down on security costs by over 50 per cent, a spokesman for MPG said.
This is achieved by introducing advanced technology for surveillance and warning, meticulously selecting and training manpower, and equipping it suitably.
The service has now been extended to Karnataka, Andhra Pradesh and, lately, Telangana, with a soft-launch. The services will be available in new geographies, including Delhi, Punjab, Uttar Pradesh, Haryana and Rajasthan, in the next phase.
The ERTs will protect 1,800 branches of the MPG flagship company Muthoot Fincorp in the South and extend cover also to over 2,100 branches of Muthoot Finance.
Talks are already under way with other NBFCs, banks, ATM operators and leading jewellers who have security vulnerabilities, the spokesman added.
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