Muthoot Microfin Limited — Updates, 04-12-2024: Press Release

Muthoot Microfin has made significant strides in enhancing the affordability of its services by implementing its third interest rate reduction this year. The institution has decreased lending rates by 25 bps for income-generating loans (IGL) and 125 bps for third-party product loans (TPP), setting the new rates at 23.05% and 22.70%, respectively. This follows prior reductions of 55 bps in January and 35 bps in July 2024, reflecting Muthoot Microfin’s dedication to transferring lower funding costs to its borrowers.

These adjustments are part of the company's broader strategy to support economic growth and empower rural entrepreneurship, particularly among women. Muthoot Microfin currently serves 3.4 million active customers across 1,593 branches in 20 states, highlighting its commitment to financial inclusion and serving underserved communities. The continued focus on reducing borrowing costs signals a positive outlook for both the company and its clientele, positioning Muthoot Microfin as a leader in the microfinance sector.