Money & Banking

Muthoot Fincorp resumes money transfer service

Our Bureau Kochi | Updated on April 16, 2020 Published on April 16, 2020

File photo   -  The Hindu

Muthoot Fincorp Ltd has announced that it was start operating select branches across the country, only for money transfer services, per RBI directions.

Thomas John Muthoot, Chairman, Muthoot Pappachan Group, and MD, Muthoot Fincorp Ltd, said MTSS (money transfer service scheme) services are predominantly availed by the common man, who often depends on money sent by relatives working elsewhere. However, due to the lockdown, MTSS services were affected, he added.

Based on the guidelines issued by the Home Affairs Ministry, the RBI has directed financial service companies to start providing specific services to the public, observed Muthoot.

Select branches of Muthoot Fincorp across the country will be opened in a phased manner from Friday. Meanwhile, select branches are being opened in Kerala, which has been able to contain the pandemic, from today.

The selection of branches is based on factors such as how far the area has been affected by the pandemic, and directions from local authorities. Adherence to health and hygiene guidelines and protocol, both for customers and staff, are being put in place.

Published on April 16, 2020

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