Muthoot mantra: Gold loan a smart, not desperate, move

THIRUVANANTHAPURAM: With roughly 65 tonnes of gold in its custody as guarantees for gold loans, The Muthoot Group (TMG) has perhaps the largest

holding of gold in the private sector, but the group feels only a miniscule part of gold in the country is being used for productive purposes.

Over the past few months, the group has been running a campaign to spread the message to unlock the financial potential inherent in the vast gold holdings with individuals in the country, and the group feels the message is getting through.

�There is traditional perception that to avail of a gold loan is a desperate measure. The truth is quite the contrary, and by availing of a gold loan, one can change the profile of gold holdings from an idle asset to a productive asset, says TMG managing director George Alexander Muthoot.