Manappuram General Finance and Leasing

Manappuram Finance Ltd, is an Indian non-banking financial company (NBFC) based in Valapad, Thrissur, Kerala.[1] Manappuram has over 4190+ branches across 25 states.[2]

Manappuram Finance Limited
TypePublic
BSE: 531213
IndustryNon-banking financial company
Founded1949 (1949)
HeadquartersValapad, Thrissur, Kerala, India
Key people
V. P. Nandakumar
(MD & CEO)
Products
  • Gold loan
  • Forex & money transfer
  • SMS finance
  • Commercial vehicle loan
Number of employees
17,500
Websitewww.manappuram.com

History

The company was founded in 1949 by late V. C. Padmanabhan in Thrissur district. The company commenced its operations at Valappad, mainly with money lending activity on a very modest scale.

The group's flagship company, MAGFIL, was established in 1992 in the wake of economic reforms launched by the Government of India. Its activity was mainly pawn broking and money lending carried out on a modest scale.

Controversies

On 14 February 2012, the company announced an immediate compliance to any of RBI's concerns. To enhance governance and better manage growth to the next level, the Board also decided to constitute an independent committee under the chairmanship of Jagdish Capoor (former Deputy Governor of RBI and former Chairman of HDFC Bank). This committee will review relevant aspects of operations, systems, controls and organizational structure, including Board composition and effectiveness.[3][4]

References
  1. "Manappuram Gen Fin to expand operations". The Hindu. Archived from the original on 10 May 2011. Retrieved 7 May 2010.{{cite web}}: CS1 maint: unfit URL (link)
  2. "PE firms take stock, use uptrend to exit". Economic Times. 29 April 2010. Retrieved 7 May 2010.
  3. "Business Line : Industry & Economy / Banking : Manappuram Fin 'will e…". Archived from the original on 11 September 2012.
  4. "Manappuram raising deposits illegally: RBI". The Times Of India.
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