It has been reported that Yes bank has signed MOU with Muthoot Finance. The Muthoot finance will act as the Business correspondent of the bank. Through this the Muthoot finance will offer the bank services to the public through its outlets. Muthoot finance has a huge network of 4256 branches spread al across the country.
Muthoot Finance is the first NBFC to act as Business correspondent. Over the past seven decades of its existence Muthoot Group has spread its presence across different segments of society. This MOU will help the bank to enhance and expand its services. The Muthoot finance will also offer domestic Remittance service to the migrant population in cities within the country. The Muthoot Finance has also moved a step a forward towards achieving its goal of taking financial services.