Muthoot Finance Business Overview

Ⓡ BELSTAR MICROFINANCE LIMITED - AN OVERVIEW Muthoot Finance As of June 2023, Muthoot Finance holds 56.97% in BML. BML was incorporated on January 1988 at Bangalore and the Company was registered with the RBI in March 2001 as a Non- Banking Finance Company. The Company was reclassified as "NBFC-MFI" by RBI effective from 11th December 2013. BML was acquired by the 'Hand in Hand' group in September 2008 to provide scalable microfinance services to entrepreneurs nurtured by 'Hand in Hand's' Self Help Group (SHG) program. The Company commenced its first lending operations at Haveri District of Karnataka in March 2009 to 3 SHGS, 22 members for INR 0.20 mn. In the last fourteen years of its operations, BML primarily relied on taking over the existing groups formed by Hand in Hand India. BML predominantly follows the SHG model of lending. Effective January 2015, BML started working in JLG model of lending in Pune district, Maharashtra. As of June 30, 2023, BML operations are spread over 16 states and 2 UT (Tamil Nadu, Karnataka, Madhya Pradesh, Maharashtra, Kerala, Odisha, Pondicherry, Chattisgarh, Gujarat, Rajasthan, Bihar, Uttar Pradesh, Uttarakhand,West Bengal, Haryana, Punjab, Tripura and Delhi. It has 782 branches, with 134 controlling regional offices and employs 8421 staffs. Its gross loan AUM has grown from INR 0.20 mn in March 2009 to INR 70,082 mn in June 2023 78

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