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Muthoot Exim expands foothold in Gold Recycling business, launches Kerala’s first ever Muthoot Gold Point Centre in Kochi

Published in Banking & Finance Thursday, 08 February 2018 17:33

 

                                                 The Group marks its 12th Gold Recycling centre across India

 

Muthoot Exim Pvt. Ltd., the precious metals division of the 131-year–old business conglomerate Muthoot Pappachan Group, today launched its 12th and Kerala’s first gold recycling centre - Muthoot Gold Point.  Thomas George Muthoot,(Director, Muthoot Pappachan Group)  Thomas Muthoot (Executive Director, Muthoot Pappachan Group),  Keyur Shah (Chief Executive Officer, Muthoot Precious Metals Division) and Sanjeev Shukla (Chief Marketing Officer, Muthoot Pappachan Group) inaugurated the Muthoot Gold Point centre, which is located at M.G.Road, Ernakulam, Kochi.

 

Muthoot Exim Pvt Ltd was the first company to launch gold recycling centre in the organised sector. With its first point centre launched in Coimbatore in 2015, it has gradually expanded to Ahmedabad, Bengaluru, Chennai, Delhi, Kolkata, Ludhiana, Madurai, Mumbai, Vijayawada and Behrampur. These retail outlet chains by Muthoot Exim Pvt. Ltd. are for gold aggregations and recycling. Muthoot Gold Points(MGP) buy scrap, old and used gold items directly from the customers and consequently reprocess, refine and supply refined bars for domestic consumption that reduces gold imports. In addition to the 11 Muthoot Gold Point centres, the company has also launched 'Mobile Muthoot Gold Point' in Mumbai. This is India’s first mobile van that can collect gold from customer’s doorstep.

 

Thomas John Muthoot- Chariman and MD, Muthoot Pappachan Group, said, “Muthoot Pappachan Group is pleased to unveil the first Muthoot Gold Point inKerala at Kochi and the 12th centre across India. With Kerala having one of the largest consumption of gold per capita, the launch of the Gold Point Centre aims to incentivise people to recycle their oldgold and reusing the same. This in turn will curb the import of gold and help the government control its current account deficit.The company and the Group is synced with the Government’s agenda of using the unused domestic gold and making it productive and useful for consumption. The company in line with the Group’s three key pillar’s of Trust, Transparency and Accountability, aims to revolutionize the retail gold segment.”

 

 Keyur Shah, Chief Executive Officer, Muthoot Precious Metals Division, said, “Muthoot Gold Point, prides itself in being the pioneer of gold recycling business,by ensuring that the customer gets great value for their gold when exchanged. We offer them price for the decimal points of the gold ornament and at Muthoot Gold Point customers get access to multi-level scientific testing and a fully transparent process resulting in fair valuation for the used / new gold jewellery.”

 

Muthoot Exim, through its centres, buys old and used gold items directly from customers, reprocess, refines and supplies refined bars for domestic consumption, with the objective of reducing dependence on gold imports.

 

Photo Caption:

 

 

Sanjeev Shukla (Chief Marketing Officer, Muthoot Pappachan Group), ),  Keyur Shah (Chief Executive Officer, Muthoot Precious Metals Division), Thomas Muthoot (Executive Director, Muthoot Pappachan Group) and Thomas George Muthoot,(Director, Muthoot Pappachan Group)  at the launch of Muthoot Gold Point in Kochi

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