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An announcement from Muthoot Microfin Ltd ( (IN:MUTHOOTMF) ) is now available.
Muthoot Microfin Ltd has secured an e-KYC license, allowing it to implement a fully digital, paperless onboarding process using Aadhaar-based authentication. This initiative aims to streamline customer onboarding, enhance data security, and improve financial access for rural communities. The e-KYC system will help mitigate financial risks by ensuring accurate customer identification and addressing the challenges of overleveraging in the microfinance sector. Additionally, Muthoot Microfin plans to introduce financial literacy programs in regional languages to empower customers in navigating digital financial services.
More about Muthoot Microfin Ltd
Muthoot Microfin Ltd is a prominent microfinance institution in India, focusing on providing financial services to underserved communities, particularly rural women entrepreneurs and Joint-Lending Groups. The company operates in 20 states with a presence in 379 districts and 1,651 branches across the country.
YTD Price Performance: -24.73%
Average Trading Volume: 15,610
Current Market Cap: 22.68B INR
See more data about MUTHOOTMF stock on TipRanks’ Stock Analysis page.