Muthoot Group Chairman MG George Muthoot died in New Delhi on Friday evening. He was 72. Muthoot Finance is one of the largest Gold Loan Non-Banking Financial Company (NBFC) in India. He was the third generation from his family to become the chairman of the Muthoot Group. He was the trustee of the Indian Orthodox Church and was also a member of the National Executive Committee of the Federation of Indian Chambers of Commerce and Industry (FICCI). He was also the Chairman of the FICCI Kerala State Council. George Muthoot was one of the six Malayalees who made it to the Forbes Magazine's Rich List last year.
According to a report by The Indian Express, MG George was rushed to Delhi’s Escorts hospital after he fell down a flight of stairs in his home. The hospital authorities declared him dead upon arrival at around 7.00 pm. He is also credited with leading the Muthoot Group’s expansion to more than 5,000 branches across the globe. Mathai George George Muthoot was born in November 1949 in Kozhencherry in the present-day Pathanamthitta district of Kerala as the son of M George Muthoot, who began the finance business and as the grandson of Muthoot Ninan Mathai, the group founder. After graduating from the Manipal Institute of Technology with a degree in mechanical engineering, Muthoot joined the family business as an office assistant and in 1979 he became the managing director and group chairman in February 1993.