Hubballi Welcomes Muthoot Exim’s New Gold Point Centre: Boosting Local Economic Prosperity

Hubballi, 23 August 2024- Muthoot Exim (P) Ltd, the precious metal arm of 137-year-old business conglomerate Muthoot Pappachan Group (also known as Muthoot Blue), proudly announces the grand opening of its newest Gold Point Centre in Hubballi. This strategically located centre at Muthoot Gold Point, next to Joy Alukkas, opposite Harsha Complex, Hubballi, Karnataka 580020, marks the company’s 27th centre in India and the fifth in Karnataka.

Hubballi has been experiencing substantial growth, emerging as a pivotal city in Karnataka’s economic landscape. The opening of the Gold Point Centre in Hubballi is not merely a business expansion but a significant contribution to the city’s burgeoning prosperity. The centre aims to provide residents with a reliable and transparent platform to monetize their gold assets, thereby injecting liquidity into the local economy.

Muthoot Exim’s Gold Point Centres are renowned for their commitment to transparency and customer trust. At these centres, customers can sell their old and used gold items with the assurance of receiving fair and accurate valuations. The entire process is conducted transparently, allowing customers to witness the valuation firsthand. Instant cash payments are made for gold valued up to Rs 10,000 with higher amounts processed via IMPS, NEFT, or RTGS, ensuring a seamless and trustworthy transaction experience.

Keyur Shah, CEO of Muthoot Exim, emphasized the centre’s potential to empower the local community: “Hubballi’s rapid development presents a tremendous opportunity for us to serve the community better. Our Gold Point Centre will not only provide a trustworthy platform for gold transactions but also support the local economy by recycling gold within India, reducing dependence on imports.”

Thomas Muthoot, Executive Director of Muthoot Pappachan Group & Managing Director of Muthoot Exim, added: “Our expansion into Hubballi underscores our commitment to serving the diverse needs of our customers across India. This new centre is a testament to our dedication to making gold recycling accessible and beneficial to all, fostering financial inclusion and sustainability.”

Muthoot Exim Pvt. Ltd. (MEPL) has been at the forefront of innovation in the precious metals market. As the first organized player to launch a gold recycling centre in India, MEPL has continuously set benchmarks in the industry. Since the opening of its first Gold Point Centre in Coimbatore in 2015, the company has expanded to major cities including Mumbai, Bengaluru, Chennai, Delhi, Kolkata, and now Hubballi, consistently offering high-quality products at affordable prices.