Muthoot Finance Chairman MG George Passes Away at 71

Forbes Asia listed him as the 44th richest Indian in 2020 with close to USD5 billion assets and the richest Keralite.

By Business Desk | Published:Fri, March 05, 2021 11:45pm

Kochi: MG George Muthoot, chairman of Muthoot Finance, the largest gold loan NBFC in the country, passed away on Friday evening in his New Delhi home after a fall from stairs, according to the family. The 71-year-old Muthoot was for long based in the National Capital even though his diversified group that runs over 20 businesses from gold loans to securities, realty estate to infrastructure, hospitals to hospitality and education, is headquartered in Kochi. Also Read - Muthoot Finance Chairman MG George Passes Away at 71

Mathai George George Muthoot was born in November 1949 in Kozhencherry in the present day Pathanamthitta district of Kerala as the son of M George Muthoot, who began the finance business and as the grandson of Muthoot Ninan Mathai, the group founder. After graduating from the Manipal Institute of Technology with a degree in mechanical engineering, Muthoot joined the family business as an office assistant and in 1979 he became the managing director and group chairman in February 1993. Also Read - Muthoot Finance Q1 net rises 43% to Rs 492 cr

In the early 1980s, the large family broke up and the family empire was divided between the cousin brothers and this led to the creation of Muthoot Pappachen Group, another diversified group in the state which runs rival gold loan company Muthoot Fincorp. Also Read - Muthoot Finance launches loan scheme targeting SMEs

Muthoot leaves behind wife Sara George and two sons. Forbes Asia listed him as the 44th richest Indian in 2020 with close to USD5 billion assets and the richest Keralite.

(With inputs from PTI)

Published:Fri, March 05, 2021 11:45pm


George Muthoot MG George Muthoot muthoot chairman dead muthoot chairman dies Muthoot Finance Muthoot Finance Chairman

Business News

LIC Wage Revision: Big Cheer For Life Insurance Corporation of India Employees, Salary Hiked Over 25 Per Cent
OPPO Set To Unveil A74 5G Smartphone on April 20; Check Price in India, Specifications
Flipkart Sale on Mobile: Smartphones Carnival Begins; Check Best Offers, Banks' Discounts
SBI Life Insurance: Best Options To Boost Financial Immunity Of Your Child's Future
How To Check Total EPF Account Balance Under One UAN Number?

Latest News

LIVE IPL 2021 PBKS vs CSK Live Cricket Score, Today's Match Updates: Chahar Removes Mayank For Duck; Chennai Spoil Punjab's Start
Dharma Productions Confirms 'Recasting' After Ousting Kartik Aaryan From Dostana 2, Read Full Statement Here
EC Curtails Campaign Timing Up To 7 PM, Extends Silence Period As COVID Cases Soar In Bengal
Check Your Privilege! Pooja Bedi Faces Flak From Netizens Over Her 'Don't Let The Virus Cage You' Tweet
PBKS vs CSK Dream11 Team Prediction VIVO IPL 2021: Captain, Vice Captain, Fantasy Playing Tips, Today's Probable XIs For Today's Punjab Kings vs Chennai Super Kings T20 Match 8 at Wankhede Stadium, Mumbai 7.30 PM IST April 16 Friday

Explore more