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Bangalore, 3rd June, 2014: Muthoot Finance Ltd, India’s largest gold financing company and the flagship company of the Muthoot Group, today launched its 37th Muthoot ATM at its Lingarajapuram branch, Bangalore. The company aims to increase the number of White Label ATMs (WLA) to 100 in the Karnataka region by end of this year.

The Muthoot ATM was inaugurated by Mr. George M. Alexander, Director, Muthoot Finance Ltd. The other senior officials present at the occasion were Mr. Babu John Malayil, AGM – Corporate Communications and Mr. Chandrasekhar, Regional Manager – North Bangalore.

Inaugurating the Muthoot ATM Mr. George M. Alexander, Director, Muthoot Finance said, “Being the industry leader, Muthoot Finance will drive on its existing strengths, including a strong presence in under-served rural and semi-urban markets for setting up WLAs in various geographical locations across the nation. With this launch we have gone an extra mile by challenging ourselves to set up 9000 WLAs within three years with our aim to launch 100 ATMs in this quarter in India”.

Muthoot Finance would see about 1000 WLAs set up in the first year itself, followed by 2000 in the second year and a significant ramp up by about 6000 WLAs in the third year.

Muthoot Finance has partnered with FIS Payment Solutions & Services India, one of the world’s largest global provider dedicated to banking & payment technologies, as their Technical Partner for the project and Federal Bank Ltd is the sponsor Bank for this venture.

Apart from basic ATM service of Cash withdrawals & Balance enquiry, will also offer value added services like Account to Account transfer, pin change, cardless withdrawal, card to card transfer etc to the customers in the coming days. The company also plans to introduce loyalty programs for the customers who will be using it’s ATMs. To ensure better service to Muthoot ATM users, the company plans to set up exclusive counters at selected centres with ATM facility along with other services of the company such as Money Transfer, Foreign Exchange, Air Ticketing, Bill Payments etc. A customer support system backed by 24X7 Video Interactive Facility and TV screen with information for customer education will also be provided at the ATM sites.