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Muthoot Finance warns against fraudulent gold lending companies


Gold lending company Muthoot Finance, the flagship company of the Muthoot Group, has warned people about Muthoot Finance’s bogus schemes and advertisements that mislead customers.

“In a recent case, an unidentified organization fraudulently attempted to attract clients / investors, through the Muthoot Finance platform, by sending bogus loan approval letters to unsuspecting individuals. Unsuspected customers are further urged by these scam organizations to submit their information such as residential address, ID and credit card details along with a handling fee of Rs 3,350 in cash to a dubious representative. of Muthoot Finance, ”Muthoot said in a statement.

Muthoot Finance, listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), advises clients and the general public to exercise caution against such scammers. Muthoot Finance clarified that it does not accept or take money before a loan is granted for gold ornaments and that all business transactions are carried out through staff at its branches only.

Muthoot Finance strongly cautions the public against sending money or disclosing bank or credit card details to anyone claiming to represent Muthoot Finance or have a relationship with the company.

Ranjit Singh, Managing Director of Operations, Muthoot Finance, said: “We are concerned about the negative impact of such fraudulent practices on our clients in rural, semi-urban and urban areas. The company is investigating the matter and is also taking appropriate legal and punitive action to tackle fraudulent claims from bogus companies and fraudsters. “

Customers are encouraged to verify the authenticity of such communication by referring to Muthoot Finance’s operations department at the head office or at the head office at the telephone numbers mentioned below.


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