Muthoot Finance Ltd., India's largest gold loan company, through its Corporate Social Responsibility arm, Muthoot M George Foundation, launches Muthoot Vivahasammanam.
Under the project, the company will provide financial assistance of Rs. 1 lakh each to 20 girls from Chennai and its suburbs, getting married between August and December, 2020. Daughters of financially deprived widows, getting married are eligible for the grant. Also, the household monthly income should be less than Rs.10,000.
Speaking about the grants, Mr. George M. Jacob, Exceutive Director, Muthoot Finance Ltd. said, "Marriage expenses in India is a major challenge for economically weak households. Supporting such families financially, through Muthoot M. George Foundation, is our way of giving back to the society."
These grants can be availed by the mothers of eligible girls, by filling an application with a letter from the Local Councilor/Panchayat member/MLA certifying the case. Marriage invitation or letter indicating the date of marriage with any other document proving the genuineness of the application should also be attached. Last date of submission of application is 30/07/2020.
Muthoot Vivahasammanam is ONE OF THE IMPORTANT CSR ACTIVITY of The Muthoot Group, providing financial assistance for marriage. The project was started in Kerala and now it is being extended to Karnataka, Telengana & Tamil Nadu.
The application envelope should be clearly marked with the words 'Application for Marriage Gift'. The applications are to be sent to: Muthoot Finance Ltd, Head Office, Corporate Communications Dept., Muthoot Chambers, Opp. Saritha Theatre Complex, Banerji Road, Ernakulam - 682 018.
Shares of MUTHOOT FINANCE LTD. was last trading in BSE at Rs.1088 as compared to the previous close of Rs. 1085.2. The total number of shares traded during the day was 56436 in over 2784 trades.
The stock hit an intraday high of Rs. 1104.8 and intraday low of 1076.5. The net turnover during the day was Rs. 61520164.