Muthoot Finance Manager Replaces 2KG Gold Jewelry
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The demonetization exercise exposed the level of corruption in the banking sector. With the PNB Scam, involving Nirav Modi and PNB officials, the common man has lost trust in Indian banking system.
Similarly, for people living in villages, and towns, finance companies like Muthoot Finance, Mannapuram Finance, Muthoot Fincorp and others are like ‘banks’. These financial institutions lend money at a decent interest rate, after mortgaging gold. Out of these, Muthoot Finance is clearly one of the top companies in the market.
With the same notion, many people mortgage gold for money. In V Kota (Chittoor) Muthoot Finance branch, a customer mortgaged 2KG gold. The branch manager, who is a cricket betting fanatic, took credit by trade the gold without anyone’s permission. Unfortunately, the fete turned against him, and he lost the 2KG gold in cricket betting.
The bank manager took chance and replaced the 2KG gold jewellery with imitation jewellery. After the customer noticed, the real jewellery is replaced with imitation jewellery, he took the matter police station.After he was exposed, the branch manager tried to commit suicide. He is currently being treated at a local hospital. The police are pursuing the case.
