Muthoot FinCorp’s shopping dhamaka benefits Kerala’s 25,000+ COVID-stricken small retailers

Our Correspondent

Muthoot FinCorp Shopping Dhamaka, launched by Muthoot FinCorp Ltd., as part of its RestartIndia programme, to help small retailers overcome the sluggishness in business caused by the outbreak of covid19 has directly benefited more than 25,000 shopkeepers in Kerala. The state’s leading NBFC has been organising this campaign since August 2020 to attract more footfalls to micro, nano and small retailers and encourage consumers to do more shopping.

Muthoot FinCorp said nearly 15 lakh consumers took part in the Dhamaka. The company gives away prizes worth Rs.6 lakh through the campaign including Honda Dio scooter, Gold coins, LED TVs and Mobile phones, according to a press release.

The Dhamaka is being held from August 3, 2020, to February 6, 2021. Customers of those small-time retail shops registered in the Muthoot FinCorp Shopping Dhaka were given Muthoot Fincorp’s gift coupons for purchases ranging from Rs.100/Rs.500. Winners were chosen through a weekly draw of lots.

George Muthoot, Director, Muthoot FinCorp, said the company had started Restart India initiative to help small-time retailers of India ride the covid wave. The project includes tailor-made loan schemes, advisory services, and demand generation programs such as digital marketing training and Shopping Dhamaka. RestartIndia project was inaugurated by Nitin Gadkari, Union Minister for Road Transport & Highways and MSME on July 23, 2020.

George Muthoot also said the Shopping Dhamaka has been getting an overwhelming response from retailers and customers in Kerala. Considering this enormous success, the company will take it to other states in phases.

Muthoot Fincorp had also launched Ashwas Dinam Gold Loan specially designed for lockdown-stricken retailers in May 2020 itself. Later, the company also introduced RestartIndia Pradhan Loan at 99 paise interest rate and Interest-Free gold loans. During this period, the company has distributed loans worth Rs.20,000 crores to around 27 lakh customers across the country.