ºÝºÝߣ

ºÝºÝߣShare a Scribd company logo

Cropped_3 Kerala Companies

•
•
Shenoy Karun
Shenoy Karun

This document summarizes that three gold loan companies in Kerala - Muthoot Finance, Manappuram Finance, and MuthootFincorp - jointly hold nearly 200 tonnes of gold jewelry in their vaults. This is a higher quantity of gold than the reserves of countries like Singapore (127 tonnes), Sweden (80 tonnes), and Australia (126 tonnes). Muthoot Finance holds the most at 116 tonnes, followed by Manappuram Finance at 40 tonnes, and MuthootFincorp at 39 tonnes, for a total of 195 tonnes collectively. The large gold holdings reflect Malayalis' strong demand for gold as insurance and dowries, as well as gold's fungibility

1 of 1
Download to read offline
of ISIS’ galuru e DOUBLE LIFE ➤ By day, worked for a multinational with a strong presence in India; by night, jihad propagandist on Twitter handle @ShamiWitness ➤ Lived a quiet life in a one-room apartment, hardly spoke to neighbours; landlord had no clue about his activities ➤ Drawn to religion during his college days, soon imbibed extremist ideas ➤ Though he has never been abroad, believes in the idea of an Islamic state, police say g , e DI U Shenoy.Karun@timesgroup.com Kochi: Three gold loan com- panies in Kerala have more precious metal in their vaults than the gold reserves of some of the richest na- tions. Muthoot Finance, Ma- nappuram Finance and MuthootFincorpjointlyhold nearly200tonnesof goldjew- ellery, which is higher than the gold reserves of Singa- pore,SwedenorAustralia. India accounts for ap- proximately 30% of the glob- al demand for gold, a true- and-tested source of insur- ance for millions of families that have little access to oth- er forms of social security. What is true for India is even more so for Kerala, where two lakh people are employ- ed in the gold industry. The metal’s fungibility makes it an ideal collateral for over- the-counterloans. Muthoot Finance holds 116tonnesof goldassecurity for its loans, Manappuram Finance has 40 tonnes and Muthoot Fincorp, 39 tonnes. The trio’s combined hold- ingstotal195tonnes. 3 Kerala cos hold more gold than Sweden, Oz Together Have 195 Tonnes In Their Vaults GOLD’S OWN COUNTRY? Gold loan business reflects Malayalis’ hunger for gold and the strong dowry system which feed gold and gold loans — CJ George GEOJIT BNP PARIBAS India has the 11th largest gold reserves Muthoot Finance holds 116 tonnes of gold jewellery Manappuram Finance 40 tonnes Muthoot Fincorp 39 tonnes GOLD RESERVES (tonnes) 80 Australia 126 SwedenSingapore 127 558 195 tonnes TOTAL Beats Greece, P 14 Hindujas buy UK’s Prez reported stable afterHe wanted to be N D I A reer-best er to on debut as d the second ell was the first) Kohli’s match aggregate is the highest by a captain on debut Aussie spinner Nathan Lyon declared man of the match for taking 12 wickets including 7 in India’s second innings Oz skipper Michael Clarke ruled out of the series with torn hamstring. Says there’s a chance he may never play again 256141 P 23-24 OF TIMESLIFE!,CLASSIFIEDS& DELHITIMES PRICE ``5.00 OR ``9.50 WITH SUNDAY NAVBHARAT TIMES IA.COM | EPAPER.TIMESOFINDIA.COM

More Related Content

Cropped_3 Kerala Companies

  • 1. of ISIS’ galuru e DOUBLE LIFE ➤ By day, worked for a multinational with a strong presence in India; by night, jihad propagandist on Twitter handle @ShamiWitness ➤ Lived a quiet life in a one-room apartment, hardly spoke to neighbours; landlord had no clue about his activities ➤ Drawn to religion during his college days, soon imbibed extremist ideas ➤ Though he has never been abroad, believes in the idea of an Islamic state, police say g , e DI U Shenoy.Karun@timesgroup.com Kochi: Three gold loan com- panies in Kerala have more precious metal in their vaults than the gold reserves of some of the richest na- tions. Muthoot Finance, Ma- nappuram Finance and MuthootFincorpjointlyhold nearly200tonnesof goldjew- ellery, which is higher than the gold reserves of Singa- pore,SwedenorAustralia. India accounts for ap- proximately 30% of the glob- al demand for gold, a true- and-tested source of insur- ance for millions of families that have little access to oth- er forms of social security. What is true for India is even more so for Kerala, where two lakh people are employ- ed in the gold industry. The metal’s fungibility makes it an ideal collateral for over- the-counterloans. Muthoot Finance holds 116tonnesof goldassecurity for its loans, Manappuram Finance has 40 tonnes and Muthoot Fincorp, 39 tonnes. The trio’s combined hold- ingstotal195tonnes. 3 Kerala cos hold more gold than Sweden, Oz Together Have 195 Tonnes In Their Vaults GOLD’S OWN COUNTRY? Gold loan business reflects Malayalis’ hunger for gold and the strong dowry system which feed gold and gold loans — CJ George GEOJIT BNP PARIBAS India has the 11th largest gold reserves Muthoot Finance holds 116 tonnes of gold jewellery Manappuram Finance 40 tonnes Muthoot Fincorp 39 tonnes GOLD RESERVES (tonnes) 80 Australia 126 SwedenSingapore 127 558 195 tonnes TOTAL Beats Greece, P 14 Hindujas buy UK’s Prez reported stable afterHe wanted to be N D I A reer-best er to on debut as d the second ell was the first) Kohli’s match aggregate is the highest by a captain on debut Aussie spinner Nathan Lyon declared man of the match for taking 12 wickets including 7 in India’s second innings Oz skipper Michael Clarke ruled out of the series with torn hamstring. Says there’s a chance he may never play again 256141 P 23-24 OF TIMESLIFE!,CLASSIFIEDS& DELHITIMES PRICE ``5.00 OR ``9.50 WITH SUNDAY NAVBHARAT TIMES IA.COM | EPAPER.TIMESOFINDIA.COM