Muthoot Capital Services (MCSL), the auto loan arm of Muthoot Group is aiming to disburse Rs 752 crore in the current financial year. During 2012-2013, MCSL had disbursed loans to the tune of Rs 431 crore. The entity is also planning to enter into states like Madhya Pradesh, Punjab and Rajasthan in the current year.
Last year, it had started business in Gujarat and Maharashtra. Further, the company is planning to start offering loans to tractors and used cars, starting from Tamil Nadu in the current year. The entity has also inked pact with Mahindra and Escorts to offer tractor loans. The company will also offer facility to pledge gold ornaments against loans instead of vehicles.
