Commenting on PM announcement on financial inclusion, Thomas John Muthoot, CMD, Muthoot Fincorp, said, ''Muthoot Fincorp is also actively evaluating applying for a small bank license, once a few of the issues like relaxing geographic limits for operating a bank, are addressed.

We are already providing finance largely to the informal segment in the form of housing finance, microfinance, two-wheeler and three-wheeler loans, in addition to traditional gold loans, and the bank status would further help us in achieving the government’s stated objectives over the next five years.''

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