Muthoot FinCorp extends its successful “Shopping Dhamakka” across the southern states of India

 February 22, 2021, Mumbai: As part of the recently launched #RestartIndia campaign with an aim to empower small-time retailers, Muthoot FinCorp has further expanded its successful “Muthoot FinCorp Shopping Dhamakka” to the southern states. Having first piloted it in the state of Kerala that received an overwhelming response from retailers and customers, the shopping festival commenced again on January 18 and would continue till the end of February.

The outbreak of Covid-19 has created an unprecedented situation especially for the nano, micro, and small retailers having severely impacted their businesses. In order to help them overcome the sluggishness of the business caused by the outbreak, Muthoot FinCorp’s RestartIndia initiative strives to help these retailers ride the Covid-19 wave by making it their mission to help to restart the Indian Small Businesses.  The project aims include tailor-made loan schemes, advisory services, and demand generation programs such as digital marketing training and Shopping Dhamakka. Spread across over 100 districts in the 4 Southern states, the Muthoot FinCorp Shopping Dhamakka, therefore, hopes to increase the footfalls and benefit over 50,000 micro-retailers, encouraging the consumers to do some more shopping.

Spanned across the months of January and February, the Dhamakka has a range of prizes worth Rs. 25 lakhs. Moreover, weekly & bumper prizes also await the lucky customers that include various rewards and bonuses in the form of Gold Coins, LED TVs, Refrigerators, Honda Scooters, among others. In order to help support as many shopkeepers as possible, Muthoot FinCorp further aims to roll out / extend the campaign to the North and West of India.

Elaborating on the company’s initiative, Mr. Thomas John Muthoot, Chairman, and Managing Director, Muthoot FinCorp said, ”We are extremely glad to be taking up this initiative as small–time businesses were one of the most vulnerable and threatened sectors to be affected by the pandemic. Our Restart Initiative, which was inaugurated by Nitin Gadkari, Union Minister for Road Transport & Highways and MSME on July 23, 2020, hopes to convert the challenges that the retailers faced into one filled with a positive future where they can restart their businesses and take care of their families. Through a specially curated Interest-Free Gold Loan scheme, we have disbursed Rs.255.64 cr. to small retailers.   We hope to continue with our momentum and plan to roll out Shopping Dhamakka across all Indian States in the near future”.

Started in August 2020 in Kerala, the Muthoot FinCorp Shopping Dhamaka had directly benefited more than 25,000 Covid-stricken shopkeepers in Kerala. With nearly 15 lakh customers that took part/registered for the shopping festival, they were given Muthoot Fincorp's gift coupons for purchases ranging from Rs.100/Rs.500, and winners were chosen through a weekly draw of lots.