Mathai George Muthoot (4 February 1911 – 31 January 1993) was an Indian entrepreneur and businessman, prominent for his pioneering work in the South Indian financial sector. He is the father of M. G. George Muthoot and G. Alexander Muthoot He, along with his father N. Mathai Muthoot, founded what would later become the Muthoot Group of Companies.

Early life

M. George Muthoot was born to N. Mathai Muthoot on 4 February 1911 in

Kozhencherry Kozhencherry is a census town in Pathanamthitta district of South Central Kerala in Kerala state, India. census, the population was 12,021 of which 5,594 are males while 6,427 are females. Etymology The name ''Kozhencherry'' is believed to have ...

, a small town in South Kerala. N. Mathai Muthoot managed the family business of contract timber in the

Kingdom of Travancore The asterisk ( ), from Late Latin , from Ancient Greek , , "little star", is a typographical symbol. It is so called because it resembles a conventional image of a heraldic star. Computer scientists and mathematicians often vocalize it as st ...

. Meanwhile, George joined the Indian army. He was married to Ammini George Muthoot and had seven children (six sons and one daughter), who now manage the Muthoot Group.

Business career

After completing his army service, he returned to Kozhencherry in 1925 and established a new partnership firm along with his father (Muthoot Chit Fund), which was primarily a

Chit Fund A chit fund is a type of rotating savings and credit association system practiced in India, Bangladesh, Sri Lanka, Pakistan and other Asian countries. Chit fund schemes may be organized by financial institutions, or informally among friends, rela ...

, and hence marking the foray of Muthoot into the financial sector. The company started by M. George Muthoot came to be known as the Muthoot Group and is today among the largest and most respected companies in

South India South India, also known as Southern India or Peninsular India, is the southern part of the Deccan Peninsula in India encompassing the states of Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Telangana as well as the union territories of ...

. He and his son Dr. G. Kurien Muthoot were also instrumental in setting up a multi-specialty hospital in Kozhencherry (Muthoot Medical Center).

Early life

Business career

See also