Muthoot Finance is considering to foray into the White-label ATM business in a bid to expand its business. This business segment will help the company gain access to those who are not their customers via gold loans. Besides, the company has also applied for housing finance that will cater to the rural and semi-rural masses.
White-label ATMs are automated teller machines that dispense cash, but unlike the conventional ATMs, are owned by non-banking companies.
Muthoot Finance is a non-deposit taking systemically important non-banking finance company (NBFC). It is primarily in the business of lending against used household gold jewellery to individuals.
