Muthoot Finance has threatened to close some of its branches in Kerala. The management of the company alleged that some vested interests had launched the strike and the frequent strikes affected the operations of some of its branches in Kerala.
The Centre of Indian Trade Union (CITU)-supported striking employees hit out at the management, saying its alleged anti-labour stance was the reason for the agitation. They had been on strike since August 20.
Muthoot Finance is a non-banking financial company (NBFC), which is engaged in providing loan (financing) against collateral of gold jewelry. The company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking etc.