India is the second-largest consumer of gold in the world, and over the years Indians' enthusiasm for gold has never decreased. The World Gold Council is projected to stay idle with indigenous citizens for about 22,000 tonnes of gold. This has encouraged the government, banks, and NBFCs to actively push gold loans in India and transform them into financial assets.
 

It was on New Year’s day of January 1, 2013 that the Manappuram Foundation started “Pakalveedu” (Day Centre) at Thalikulam in association with a local NGO, Thalikkulam Vikas Trust. What the Pakalveedu offers is daylong fellowship to the elderly people living in and around Thalikkulam. The beneficiaries are senior citizens over 65 years of age. The centre works from 10 a.m. to 5 p.m., Monday to Friday. Their day is well spent with activities aimed at their social and intellectual nourishment, as also taking care of their physical health.

Everyone says the customer is important, but only a few companies invest the time, effort and financial resources to do what needs to be done to build a more loyal customer base.
 

By V.P. Nandakumar
 
On November 6, 2016, Manappuram Finance Ltd. celebrated 20 years of listing on the BSE. Mr. V.P. Nandakumar, MD & CEO, looks back at the triumphs and tribulations of those early days in the history of the company.
 

The Indian banking system is recognized as being robust and well regulated. Since nationalization, the Indian banking system has undergone dramatic changes. For example, recently India became one of the few countries to begin implementing Basel III norms. On the other hand, banking system is yet to penetrate into the hinterlands. Around 41% of the Indian population is still unbanked, of which, 40% belong to urban regions, while 60% belong to rural areas. Only 14% of the adult population has access to credit accounts with formal financial institutions.