Muthoot Microfin has secured a corporate agent license from the Insurance Regulatory and Development Authority of India (IRDAI) that would enable it to offer tailored insurance plans to its customer base. This license strengthens Muthoot Microfin`s commitment to financial inclusion by providing insurance coverage that addresses the risks faced by the most vulnerable segments of society. By offering cover for natural calamities and medical emergencies in addition to life insurance, Muthoot Microfin ensures a holistic approach to its customers` financial security. This initiative stems from Muthoot Microfin`s customer-first approach, which allows the company to offer both financial and insurance solutions under one roof to its 3.35 million customers. The corporate agent license will help Muthoot Microfin negotiate better with insurance partners and customize products to suit the needs of its BOP (Bottom of the Pyramid) customers in rural and semi-urban areas across India. With this new license, Muthoot Microfin can offer the right insurance products to its customers while augmenting its sources of revenue and earningsPowered by Capital Market - Live News

Muthoot Microfin has announced a significant update to its recent External Commercial Borrowing (ECB) initiative. The greenshoe portion of the ECB was oversubscribed from USD 25 Mn to USD 38 Mn and was participated by Union Bank of India (DIFC Branch), Bank of Bahrain and Kuwait B.S.C., Bank of India (DIFC Branch, Dubai), Mega International Commercial Bank Co. Ltd. (Labuan Branch). This expansion in the greenshoe option comes after the successful initial raise of USD 75 million, which was solely arranged by Standard Chartered Bank, acting also as the Social Loan Coordinator. The development underscores the strong confidence international investors have in Muthoot Microfin`s growth and mission. Sadaf Sayeed, CEO of Muthoot Microfin, stated, We are delighted to receive an overwhelming response to our ECB paper in the international market. The increased greenshoe amount is a testament to the faith and trust that global financial institutions have in our business and the social impact it is making . We are glad to receive the offer from marquee international names; it will help us diversify our source of funds further. This will bolster our efforts in deepening financial inclusion agenda by providing microfinance loans across geographies, promoting entrepreneurship among women, and fostering inclusive growth.Powered by Capital Market - Live News

Muthoot Microfin announced a strategic co-lending partnership with the State Bank of India (SBI). With this collaboration, Muthoot Microfin aims to extend its financial services to women entrepreneurs in rural and semi-urban regions across India. Under this agreement, Muthoot Microfin and SBI will co-lend to members of Joint Liability Groups (JLGs) who are engaged in agricultural and allied activities as well as other income-generating enterprises. The loan amounts will range from a minimum of Rs 10,000 to a maximum of Rs 3,00,000, providing a substantial boost to women entrepreneurs from rural regionsPowered by Capital Market - Live News

Muthoot Microfin will hold a meeting of the Board of Directors of the Company on 8 June 2024.Powered by Capital Market - Live News

Muthoot Microfin announced that the 32th Annual General Meeting(AGM) of the company will be held on 21 June 2024.Powered by Capital Market - Live News