Muthoot Finance transformed 0.6 million lives through investment in Healthcare, Education, and Sustainability as part of CSR in last fiscal

Bengaluru, November 8, 2024: Muthoot Finance, India’s largest gold loan NBFC continued to strengthen its commitment to socio-economic development through its Muthoot Social Responsibility (MSR) initiatives in FY 2023-24. During FY24, the company spent more than Rs. 1000 million in various community-focused projects, positively impacting the lives of more than 0.6 million people through a comprehensive and multi-faceted approach.
 
Continuing the legacy since the inception of The Muthoot Group in 1887, uplifting the society and fostering sustainability are deeply ingrained in Muthoot Finance’s organizational DNA. The CSR initiatives were focused on offering holistic development by focusing on key areas such as healthcare, education, livelihood support, renewable energy, promoting sports talent, supporting artists of India, wildlife conservation and other infrastructural development. The initiatives were spread across all states and union territories.
 
Muthoot Finance’s CSR activities also align with almost 12 of the United Nations Sustainable Development Goals (UNSDGs), including UNSDG 1 (No Poverty), UNSDG 2 (Zero Hunger), UNSDG 3 (Good Health and Well-being), UNSDG 4 (Quality Education) amongst many others. With education as one of the primary focus area, the company is proud to report that about 75% of its CSR budget was spent on bridging the educational gap for talented yet underserved children in the country. The initiatives included construction of new academic institution infrastructure, donation of school stationery, construction and renovation of Smart Anganwadis, higher education scholarships amongst others. Almost, Rs. 10 crores were spent on supporting sports activities and sportsmen to represent India in global events. Muthoot Finance further extended its support to a plethora of species of flora and fauna at Tipeshwar Wildlife Sanctuary and Melghat Tiger Reserve by installing solar pumps. This helps in combating challenges posed by climate change and providing consistent water supply throughout the year.
 
George Muthoot George, Deputy Managing Director, Muthoot Finance, said, “As a strong believer of the values and ethos of The Muthoot Group of giving it back to society, we are happy that we were able to make a small difference at our end in FY24. Aligned with our three focus areas – Education, Healthcare, and Environment – we are emphasizing on multiple initiatives to lay the groundwork for solving a myriad of various issues. The key objective behind our CSR initiatives is to be a catalyst for social development, contributing to sustainable economic growth of India, and further creating an Atmanirbhar Bharat. As a trusted NBFC, we will continue to prioritize programs and initiatives to enhance economic and social well-being, striving for a harmonious balance between corporate practices and community welfare.”