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Chemmanur International Jewellers, with 148 years in gold jewellery business, has diversified into non-banking financial services by setting up Chemmanur Credits and Investments Ltd headquartered at Thrissur.
The company plans to set up 5,000 branches nationwide by 2020. Of the 200 branches being set up in Kerala, 12 branches have started functioning.
Mr Bobby Chemmanur, Chairman and Managing Director, said that 500 branches would be opened in Andhra Pradesh, Karnataka and Tamil Nadu shortly.
The company also plans to introduce Chemmanur Bhadram, a gold savings scheme to help the common man benefit from the rapid appreciation in gold prices. All the branches will also have money transfer arrangements with Western Union, he said.
He said that Chemmannur Life Vision Charitable Trust, set up for social welfare activities, has set up Life Vision Poor Homes at Kozhikode and Kalpetta and also taken up free food distribution in poverty-ridden Adivasi areas.
The trust is also launching a project titled “Sundara Keralam” in association with the State Government for a clean and garbage-free State.
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