Muthoot Finance launches remittance services between India and Nepal

Muthoot Finance has launched money remittance services between India and Nepal. In this regard, the company has collaborated with the Indian arm of Nepal based Prabhu Bank. Nepali migrants can now transfer money from a minimum of Rs 200 from any of the 4,200 branches of Muthoot Finance to their families without opening a bank account in India.

The facility is expected to benefit four million migrants living mostly in cities like Delhi, Mumbai, Kolkata and Bengluru and in the states of Punjab and Uttar Pradesh.

Muthoot Finance is the largest gold financing company in India in terms of loan portfolio. The company is a Systemically Important Non-deposit taking NBFC headquartered in the southern Indian state of Kerala and with its corporate office in New Delhi.