Muthoot Money Transfer aims to double its business transactions

Chandigarh, December 1, 2012: Muthoot Money Transfer, one of the main business divisions of The Muthoot Group, a multifaceted diversified business conglomerate in India is all set to double its Money Transfer business transactions by the end of this fiscal year through its new marketing campaign.

A one-stop-destination for all money transfer services, Muthoot Money Transfer provides the services of Western Union, Xpress Money, Moneygram, Royal Money Transfer, Ez Remit, Instant Cash, Transfast and Wire Money through its 4000+ Muthoot Finance branches across the country.

The campaign began from today. It will witness a month long road show wherein a branded Muthoot Money Transfer van will travel to all the major foreign remittance receiving towns across 90 locations. The campaign commencing from Chandigarh will gradually move to different locations in the state including Mohali, Ludhiana, Moga, Jalandhar, Hoshiarpur, Amritsar, Bhatinda, Patiala among others and back to Chandigarh. The road show will also give the masses an opportunity to obtain personalised advices and consultation from the company officials of Muthoot Money Transfer.

As part of its new marketing campaign, assured gifts will also be given to all customers doing money transfer transactions. To further motivate the people, a gold coin lucky draw will also be held every month. The campaign endson March 31 next.

Speaking on the occasion, Avinav Chaubey, AGM-Marketing, The Muthoot Group: “The key insight behind our ongoing countrywide campaign is to raise awareness about safe remittances, educate the masses about Muthoot Money Transferservices and its easy accessibility through the widespread Muthoot Finance branches.”

“To give a 360 degree angle to the campaign, we have adopted both ATL and BTL approach as we believe that this step will aid us in two ways – firstly it will make us reach a larger and wider number of audiences which will create awareness that we are not only the largest gold loan provider but also have other products/a large Money Transfer business. Secondly, the wide network of Muthoot Finance branches will provide easy accessibility for the customers, thereby, increasing our market share in Punjab”, added Avinav Chaubey.

Interacting with the media Jose Allesh, Chief Manager, Muthoot Money Transfer said,“Due to the economic slowdown in 2010, there was a stagnant position in inward remittance but in 2011, when the economy regained, we did a record of one and half million money transfers. This year, we are seeing a 10-13 percent growth in the industry and aim to double our money transfer business transactions to Rs 7000 crores in value term by the end of this fiscal through an aggressive marketing campaign.”