MG George, Muthoot Group Chairman passes away

New Delhi: Mathai George George Muthoot, the chairman of Muthoot Group passed away on Friday. He was the third generation entrepreneur of his family, who became chairman of the Muthoot group.

Under the stewardship of MG George, the company saw new heights of growth and today it has become the No 1 gold loan NBFC in the country.

MG George, Chairman Muthoot Group passed away. RIP pic.twitter.com/6GZGLuDRXr

— Liz Mathew (@MathewLiz) March 5, 2021

The Kochi-based Muthoot Finance offers loans using gold as collateral. Muthoot Finance provides gold loans on extremely easy terms and conditions to people of each segment of the society. The gold loans vary in a range beginning from Rs 1,500 to any maximum limit.

Forbes Asia Magazine listed MG George Muthoot as the 50th richest man in India in 2011 and in 2019, his ranking climbed to 44th richest in India according to the Forbes’ India’s Richest list.