Range includes platinum statuettes of Lord Ganesh in 3 gm, 6 gm and 9 gm sizes
Products to be available at Muthoot Fincorp Branches
easily affordable via savings ad accumulation plans
MUMBAI, (GNI): Muthoot Exim, the precious metals division of the 130-year-old corporate conglomerate Muthoot Pappachan Group, today launched India’s first ever range of non jewellery platinum products made from the rarest of precious metals, Platinum.
Named ‘Anantavarsham Platinum Series’, the new range of non jewellery products aims to give Indian customers unprecedented access to affordable platinum products purchased via savings and accumulation plnas. The launch is part of a new partnership with the World Platinum Investment Council intended to further stimulate ad service the growing demand for physical platinum in India.
As part of its initial offering Muthoot Exim will sell a range of precious metal statuettes of Lord Ganesha in 95 per cent pure platinum metal. Platinum is ideal for the production of statuettes ad medals of deities as it is the most stable preious metal and so, unlike silver, it does not tarnish. This means that images of deities made from platinum do not require the polishing and cleaning associated with traditional metal images of deities.
The statuettes can be purchased through Equal Monthly Instalments as well as one-month schemes. The program also includes a spot buy-back option with assay, which will be available throughout Muthoot Pappachan Group’s countrywide network of Gold Point centers.
The Ganesh deity statuettes are fabricated by Emerald jewel Industry India Ltd., Coimbatore, Tamil Nadu.
In the initial stages, the new platinum scheme will be available in 624 branches of Muthoot Fincorp Ltd, the flagship company of Muthoot Pappachan Group and one of the largest Non-Banking Finance Companies (NBFC) in India. The product will be availbable at Muthoot Fincorp branches in Mumbai, Bangalore, Delhi, Ahmedabad, Chennai, Coimbatore, Madurai, Vijaywada, Kolkata and Ludhiana.
Thomas Muthoot, Executive Director, Muthoot Pappachan Group, said, “In India platinum is often perceived as accessible to only privileged few. We, at Muthoot Pappachan Group, arse proud to offer for the first-time a more affordable means to own this highly desirable metal including in the form of Lord Ganesh statuettes. Supported by our platinum buy-back option, our innovative savings pmrogram has been designed to satisfy te current unmet and growing deand for platinum ownership in India”.
Keyur Shah, CEO, Muthoot Precious Metals Division, said, “Through these images of deities, Muthoot Exim is setting new standards for innovation, excellence, affordability in the Indian Platinum market. Expanding into platinum is a natural step for us, and we are especially proud to be working with the WPIC to expand our product offering.”
Marcus Grubb, Director of Market development, World Platinum Investment Council, said, “India represents on of the most significant global opportunities for the development of platinum as a investment medium. We have already seen enormous growth in the market in recent years, especially with young consumers. together with Muthoot Pappachan Group, we look forward to building even further momentum”.
Speaking about Muthoot Exim Pvt Ltd is the precious metal vertical of Muthoot Pappachan Group, and specilises in innovative products and offerings in the precious metal space. Customers have access to quality products that meet the highest standard, at an affordable price.
The company’s flagship- products are: Muthoot Gold Point; First National level organised sector that allows you to sell your gold in a transparent and efficient manner.
Mobile Muthoot Gold Point is India’s first mobile gold buying vehicle to collect gold directly from customers at their doorsteps.
Corporate gifting: Muthoot Exim has set a new benchmark in Corporate Gifting by providing world class products with genuine purity and efficient service.
Speaking about World Platinum Investment Council Ltd (WPIC) is a gold marker authority on physical platinum investment, formed to meet the growing investor demand for objective and reliable platinum market intelligence.WPIC’s mission is to stimulate global investor demand for physical platinum through both actionable insights and targeted product development. WPIC was created in 2014 by the six leading platinum producers in South Africa: Anglo American Platinum Ltd, Aquarius Platinum Ltd, Impala Platinum Ltd, Lonmin plc, Northam Platinum Ltd and Royal Bafokeng Platinum Ltd. The World Platinum Investment Council is not authorised by Financial Conduct Authority to give investment advice. For further information, please visit www.platinuminvestment.com — ends