FINANCIAL LITERACY AND STOCK MARKET PARTICIPATION IN INDIA
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A STUDY ON CUSTOMER SATISFACTION TOWARDS GOLD LOANS OFFERED BY NBFCs WITH SPECIAL REFERENCE TO MANAPPURAM FINANCE LIMITED IN KANNIYAKUMARI DISTRICT

Thadeus Dani, S., T.

Reg. No. 20213211011002, Ph.D. Research Scholar, Department of Commerce, St. Jerome’s College, Anandhanadarkudy, Kanyakumari District, Affiliated by Manonmaniam Sundaranar University, Abishekapatti, Tirunelveli – 627 012, Tamil Nadu, India.

Abstract


Manappuram Finance Ltd. is one of India’s leading gold loan NBFCs which was founded in the year 1949 in the coastal village of Valapad (Thrissur District). The firm was involved in pawn broking and money lending carried out on a modest scale. The NBFC has 4637 branches across 28 states/UTs with assets under management (AUM) of Rs. 272.24 billion and a workforce of more than 30,000. Gold loans were for long sold as a “one-size-fits-all” product. The company was a pioneer in introducing variety to it, for instance, by offering progressively higher loan amounts at higher price points. It was also the first to come up with “one-day interest” where borrowers have the option to settle a gold loan at their earliest convenience, even within a day, at a time when the norm was to recover a minimum interest of seven days, or even a month. Gold loans are secured loans where the customer pledges the gold ornaments they hold as a collateral deposit against the money they are going to receive. They are usually taken for short term financial obligations. The main objective of this paper is to analyze the customer satisfaction towards gold loans offered by the Manappuram finance limited in Kanniyakumari district.

Keywords


NBFCs, manappuram finance, gold loans and customer satisfaction.

 

References


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Krishnamurthy, S. (1995). “Non-Banking Financial Intermediaries”, Deccan Publications, Madras, 62-65.

Rosita. (2010). “Gold Loans- Personal Loan against Gold: A Financing Option for Short Term Needs”, 1-2, 11.

Venkateswaran. N. (2012). “Indian consumers towards gold loan market” Indian Streams Research Journal, 2(11), 1-5.

 

To cite this article


Muniza Ahmad. (2021). Financial Literacy and Stock Market Participation in India. Sparkling International Journal of Multidisciplinary Research Studies, 4(4), 8-21.