Money & Banking

Manappuram Finance opens regional office in Tiruvananthapuram

Our Bureau Thiruvananthapuram | Updated on March 11, 2011 Published on March 11, 2011

Expanding: Mr Sripal, Managing Director, Kerala Health Research and Welfare Society, inaugurating the regional office of Manappuram General Finance and Leasing (Magfil) in Thiruvananthapuram on Friday. Also seen are Mr V. P. Nandakumar, Chairman, Manappuram Group of Companies; Mr T. Rufus Daniel, Vice-President, Thiruvananthapuram District Panchayat; and Mr N. Vijayagopalan, Deputy General Manager, South Kerala Region, Magfil.

Manappuram General Finance and Leasing (Magfil) has opened its new regional office for south Kerala here on Friday.

Mr Shripal, Managing Director, Kerala Health Research and Welfare Society, inaugurated the office in the presence of Mr V.P. Nandakumar, Chairman of the Manappuram Group of companies.

SOUTHERN DISTRICTS

The new office is located at S. S. Plaza, Pazhaya Road, near Medical College. Among those who attended the inaugural function were Mr T. Rufus Daniel, Vice-President of the Thiruvananthapuram District Panchayat, and Mr N. Vijayagopalan, Deputy General Manager, south Kerala region, Magfil.

The regional office will have a jurisdiction of over 130 branches in the districts of Thiruvananthapuram, Kollam, Pathanamthitta, Kottayam, Alappuzha and Idukki.

The company has nearly 2,000 branches spread across 19 States in the country, including 434 branches in Kerala, Mr Vijayagopalan said.

FINANCIAL ASSISTANCE

During the inaugural function, the Manappuram Foundation disbursed financial assistance to various charitable organisations and individuals serving the cause of poor cancer patients.

Under the auspices of the Manappuram Foundation, the group provides free health insurance to over one lakh people falling n the BPL category in the Nattika area of Thrissur district, its home base.

In less than a year, the scheme has benefited nearly 2,000 poor families in free medical treatment worth over Rs 2 crore.

SELF EMPLOYMENT

More recently, the foundation has launched the Manappuram Sarojini Padmanabhan Women Empowerment and Food Security Programme to provide livelihood to disadvantaged women in coastal Thrissur by opening up opportunities for self-employment in areas such as cultivation of fruits, vegetables, poultry and dairy farming.

The foundation has also been active in Bangalore city and Tamil Nadu where it has focused on providing scholarships to poor students, donations to schools and orphanages and financial assistance to kidney, cancer and heart patients from poor families.

DIVERSIFIED GROUP

From humble beginnings more than 60 years ago as a single-branch outfit dealing in gold loans, the Manappuram Group has now become a leading business house with nine group companies.

It has diversified interests in gold loan, jewellery, healthcare, asset financing, chit funds, money transfer, foreign exchange, insurance and travel services, among others.

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Published on March 11, 2011
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