Manappuram General Finance and Leasing

From Bharatpedia, an open encyclopedia

Manappuram Finance Limited
Traded asBSE: 531213
IndustryNon-banking financial company (NBFC)
Founded1949
HeadquartersValappad, Thrissur, Kerala, India
Key people
V.P. Nandakumar (MD & CEO)
Products
  • gold loan
  • forex & money transfer
  • SMS finance
  • commercial vehicle loan
Number of employees
17,500
Websitewww.manappuram.com

Manappuram Finance Ltd, or MAFIL, is an Indian non-banking financial company (NBFC) based in Valapad, Thrissur, Kerala.[1] Manappuram has over 4190+ branches across 25 states.[2]

History[edit]

The company was founded in 1949 by late V.C.Padmanabhan in Thrissur District. The company commenced its operations at Valapad, mainly with money lending activity on a very modest scale. The group's flagship company, MAGFIL, was established in 1992 in the wake of economic reforms launched by the Government of India. Manappuram's origins go back to 1949 when it was founded in Valapad (a coastal village in the Thrissur District of Kerala) by the late V.C. Padmanabhan, father of Nandakumar. Its activity was mainly pawn broking and money lending carried out on a modest scale.

Controversies[edit]

On 14 February 2012, The company announced an immediate compliance to any of RBI's concerns. To enhance governance and better manage growth to the next level, the Board also decided to constitute an independent committee under the chairmanship of Mr Jagdish Capoor (former Deputy Governor of RBI and former Chairman of HDFC Bank). This committee will review relevant aspects of operations, systems, controls and organizational structure, including Board composition and effectiveness.[3][4]

References[edit]

  1. ↑ "Manappuram Gen Fin to expand operations". The Hindu. Archived from the original on 10 May 2011. Retrieved 7 May 2010.{{cite web}}: CS1 maint: unfit URL (link)
  2. ↑ "PE firms take stock, use uptrend to exit". Economic Times. 29 April 2010. Retrieved 7 May 2010.
  3. ↑ [1]
  4. ↑ "Manappuram raising deposits illegally: RBI". The Times Of India.
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