Ninan Mathai Muthoot

In the year 1887, Muthoot Ninan Mathai, patron founder of our group, started in a humble way as a retail and whole-sale trader of grains at Kozhencherry, Kerala. These wholesale goods were mainly supplied to the large estates owned by British Companies. Subsequently, understanding the unmet saving needs of the estate workers, Mr. Ninan Mathai, started the Chit Funds business with philanthropic motive, as an avenue for saving. Functioning out of a single office in Kozhencherry, Muthoot Ninan Mathai entered the gold loan business in the 1950’s. He soon went on to become the largest player in Chits & Gold Loans. Soon Kozhencherry became a known name where people across Kerala came to for gold loan & chits.