One of the biggest Non-Banking Finance Company (NBFC) in the country Muthoot Finance has ruled the news that it is planning to shut down the branches outside Kerala. The company management has made it clear that such news are totally baseless and untrue.
The company has also said that it is planning to open more branches in a move to strengthen its network and branch expansion across the country.
Earlier the company has announced that 43 branches in Kerala will be closed. The branches will closed after 3 months and will continue operation till that to enable the customers to close their loans and get back their pledged ornaments.
The biggest gold lending company is facing a strike by the employes under the CITU flag. The company has revealed that around 300 out of its 615 branches in the state has affected by the strike. The business in Kerala has been come down from 10% to 4%.
Meanwhile, the employees who are on strike under Non-Banking and Private Finance Employees Association has claimed that the employees with many years experience were getting only Rs.12000 as salary . They also accuse of insecurity of job sales-oriented pressure.
The state Labour Minister has called a meeting with the management, CITU and leaders of striking employees today.
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