Muthoot Fincorp Ltd., the flagship company of Muthoot Pappachan Group, is one of the leading NBFCs in India with over 3500 retail branches, pan India. Muthoot Fincorp is a provider of products and services in the form of secured and unsecured loans to the middle and low-income customers. Decades of customer centricity, dedicated research and experience with the customers and their families have enabled the Company to provide quick and customized financing options and investment schemes for millions of customers. Muthoot Fincorp is one amongst the largest Gold Loan companies in India. At the same time the company has a diverse mix of retail offerings catering to the various needs of its customers including MSME Loan products, Housing Loan, Auto Loan, Money Transfer, Foreign Exchange, Insurance Services, Wealth Management Services and Travel related services.
As per the latest development, Muthoot Fincorp Limted, the flagship Company of the Muthoot Pappachan Group today announced its partnership with National Skill Development Council (NSDC) to contribute towards the Pradhan Mantri Kaushal Vikas Yojana (PMKVY 2.0) programme under the Special Category Project. Under this scheme Muthoot Fincorp, targets to train over 10,000 people over the next 3 years and make them job ready. NSDC has approved a target of 3000 candidates in the first year and 3500 each in the subsequent 2 years. Muthoot Pappachan Group will also absorb 80% of the trained students (8,000) into the Group for regular positions (Job Roles), after successful completion of training and assessment of the candidates. This program will equip these candidates with job ready skills to access steady income opportunity in the NBFC space in India.
Muthoot Pappachan Group (MPG), a reputed business conglomerate has been providing solutions, services and expertise to millions of customers across the country in various domains like financial services, two-wheeler finance, micro-finance, affordable housing finance, health, life & general insurance, precious metals, automotive, realty, hospitality, IT- businesses and varied CSR-initiatives. Over the years, Muthoot Pappachan Group has grown to become a significant entity in the Indian business landscape. Group’s customer-centric approach and innovation in terms of new products that cater to changing customer needs, have helped in gaining the loyalty of innumerable customers, as well as attracting new ones. With the credo of ‘Empowering Human Ambitions’ at its core, the Group adopts the latest technology and products & services innovations, towards catering to the needs of customers, based on deep understanding of the customers wants & desires, coupled with an uncompromising stand on values, principles and ethics.
Through this partnership, the prospective candidates can apply to the Training Service Providers (TSPs) directly who will be advertising the requirements locally in the districts assigned to them. The minimum criterion for candidates to apply is graduation in any subject, preferably B.com, with minimum 55% marks.
Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is the flagship scheme of our Prime Minister under the Skill India program, launched by the Ministry of Skill Development & Entrepreneurship (MSDE).The objective of the scheme is to skill the over 10 million unemployed Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood.
Speaking on the association, Mr. Tojo Jose, Chief Human Resource Officer (CHRO), Muthoot Fincorp Limited said,
“It is indeed gratifying to associate with NSDC for the PMKVY Special Project to train youth in products, sales and marketing skills, soft skills, customer orientation to be an effective loan processing officer. The BFSI sector is likely to become the fifth largest in the world by year 2020 and third largest by year 2025. It is expected to have a manpower requirement of 8.5 million skilled workforce by 2022, which is an increase of about 4 – 4.5 million from where India stands today. Skill development in India is an issue that needs our immediate attention. Through this program, we aim to train & skill more than 10,000 people and address the skill gap in India.. This is a great opportunity for us and we are confident that this program will help us empower human ambitions by creating sustainable employment opportunities for the country’s youth.”
The skilling model is designed for a 290 Hour Curriculum, which will be operated on a “Captive Employment” model, where training will be imparted as per BFSI approved training content and curriculum. The curriculum will be comprehensive and focus on building skills like loan processing by creating a training program pertinent to the youth to take up similar job opportunities. The training content is a combination of technical and soft skills. On completion of the training, the candidates will be absorbed by the industry, as ready resources who can contribute from the beginning of there career, thus saving on the training costs and time of the prospective employer.