Muthoot Microfin Limited — Updates, 05-03-2025: Press Release

Muthoot Microfin has secured an e-KYC license, enabling fully digital customer onboarding. This initiative will allow for quicker and more secure access to financial services for underserved populations, particularly rural women entrepreneurs and Joint-Lending Groups in India. The e-KYC process will use Aadhaar authentication, biometric verification, and OTP-based validation, significantly enhancing customer identification accuracy while reducing manual documentation.

This rollout aims to address barriers to financial access and will include regional financial literacy initiatives to support customers in navigating digital services. Muthoot Microfin currently operates in 20 states, serving 3.42 million active customers across 1,651 branches, with a Gross Loan Portfolio of 12,404.9 Cr. The company's commitment to technology-driven solutions positions it favorably for growth and greater financial inclusion as it expands its digital offerings.