Popular Finance Company Shuts Down Several Branches!

Muthoot Finance, on Wednesday, announced through advertisements that the company will be closing 15 of its branches in Kerala with immediate effect. No fresh gold loans will be provided from the mentioned branches and existing customers will have to close their loans and get back their ornaments within 3 months.

This comes after an indefinite protest by an employees’ union in the company entered its 16th day on Wednesday. Their key demands include basic hike in salary, lack of proper allowances and denial of proper bonus. However, in its statement, the company did not cite any reason for the closure.