Muthoot group has issued, it is alleged, a circular which is intolerant in nature. It prescribes a dresscode for Hindus which is discriminatory in nature. It bans Hindu lady staff from wearing bindhi and sindoor which is of religious significance and also prevents staff from having sandalwood paste or Rakshabandhan. It should be noted that Muthoot group is run by a Christian family (Malankara Orthodox Syrian Church). See the alleged circular below and read additional information about the Muthoot Group.
The Muthoot Group is an 124-year-old business house based in India. It has interests in Financial Services, Information Technology, Media, Healthcare, Education, Power Generation, Infrastructure, Plantations, Precious Metals and Hospitality. The Muthoot Group operates in 23 states in India, and has a customer base of over 25 million. It is wholly owned and managed by the Muthoot Family.
The Muthoot family are Christians belonging to the Malankara Orthodox Syrian Church, and is one of the most influential members among the Christian community in Kerala. M. G. George Muthoot, the third son of M. George Muthoot became the Trustee of the Malankara Orthodox Church in March 2007
Additional Details about the Group
The Group takes its name from the Muthoot Family based in Kerala. The Company was set up by Muthoot Ninan Mathai in 1887 at Kozhencherry, Kerala. It was then later taken over by his son M George Muthoot who incorporated the Finance division of the group which was until then primarily involved in wholesale of grains and timber. The company is now managed by the third and fourth generation of its family members.
Muthoot Finance falls under the category of Systematically Important Non Banking Financial Company (NBFCs) of the RBI guidelines. The company has more than 3,000 branches spread across 23 states of the country and is the largest gold loan company in India. Muthoot Finance is the largest Gold Loan NBFC and has the largest network of branches for a Gold Loan NBFC in India. 'Muthoot Gold Power' is the lifestyle product of Muthoot Finance aimed at mobilizing the Household gold in India which is estimated to be more than 15000 tonnes. Muthoot also provides various financial services such as Insurance distribution, Wealth Management, Foreign Exchange, Money Transfer and Vehicle & Asset Finance. Muthoot Finance was selected as one of the Top 10 Finance companies to work for in India by Naukri.com. In terms of market capitalisation, Muthoot Finance is the second largest company in Kerala, first being Federal Bank.
Muthoot Group is one of the prime sponsors of Delhi Daredevils, the IPL team. High profile murder of Paul Muthoot had hit headlines couple of years.A recent circular issued by Muthoot group have now courted controversy because of its intolerant nature of strict warnings in the name of dresscode, which has been posted in one of the Malayalam website. (http://www.scoopindia.com/showNews.php?news_id=18855)
Attached the circular which is of self explanatory. The circular bans Hindu lady staff from wearing bindhi and sindoor which is of religious significance and also prevents staff from having sandalwood paste or Rakshabandhan. A large number of Hindus choose Muthoot branch to submit their Gold valuables when they are in need of financial resources.
It appears that, Dr. Subramanian Swamy has taken up this issue and sent a letter to the Muthoot management. [Link to Swamy's letter]. See the text below.
http://www.twitlonger.com/show/d15s1i
http://www.twitlonger.com/show/d15s1i
10th September, 2011.
To
Ms. Shiney Thomas,
Executive Secretary,
Muthoot Fincorp Ltd.
Muthoot Center
Punnen Road, Trivandrum.
Ms. Shiney Thomas,
Executive Secretary,
Muthoot Fincorp Ltd.
Muthoot Center
Punnen Road, Trivandrum.
Dear Ms.Thomas:
I am given to understand that you have issued a circular dated 17th March, 2011
resuring a dress code which discriminates against Hindu values and practices (see
enclosed).
resuring a dress code which discriminates against Hindu values and practices (see
enclosed).
If this circular is still operative, please let me know. As it stands, it is violative of a
Hindu's fundamental rights.
Hindu's fundamental rights.
Yours sincerely,
(SUBRAMANIAN SWAMY)
