Muthoot Aashiyana rehabilitation initiative commenced in the year 2018 for the flood victims of Kerala; Muthoot Finance has earmarked Rs. 20 crores towards the project.
- With the successful construction of 14 houses in Edavanakkad, the company has now touched a milestone of building and handing over 250 houses under this initiative.
- Given the positive impact created by the Muthoot Aashiyana initiative in Kerala, the company had selectively scaled up the project further in Haryana and Uttarakhand.
Kochi (India CSR): Muthoot Finance India's largest gold loan NBFC Company has successfully constructed and handed over the newest tranche of 14 houses under the CSR initiative of Muthoot Aashiyana Housing Project in Edavanakkad, Kochi.
The houses were distributed to the needy and underprivileged at Edavanakkad - a coastal suburb of Kochi. In order to celebrate this milestone, the company had organized a key handover ceremony on May 08, 2023, at Edavanakkad, Ernakulam District. The event was inaugurated by George Alexander Muthoot, MD, Muthoot Finance and Chief Guest – Shri. Hibi Eden, MP, Ernakulum District. Shri George M George, Deputy Managing Director, Muthoot Finance, inaugurated Environment-friendly initiative "Plant a tree, save the Planet".
Edavanakkad, a coastal suburb of Kochi, has recently become home to 14 new houses built for poor and marginalized families. These families had previously been living in dilapidated homes that were damaged by prolonged exposure to sea swells and erosion. The Aashiyana Housing project was launched in 2018 with an aim to provide houses for those in need and it has now reached a milestone of 250 homes with the completion of the Edavanakkad project. The company had previously delivered 202 homes in Kerala for victims of the 2018 floods. Given the positive impact created by the Muthoot Aashiyana initiative, the company had scaled up the project further. The recently completed projects under the initiative are 20 houses in Rewari, Haryana, and 10 houses in Haridwar, Uttarakhand. Muthoot Finance has earmarked a collective spend of Rs. 20 Crores towards the scheme.
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George Alexander Muthoot, Managing Director, Muthoot Finance
Speaking on the Muthoot Aashiyana scheme, George Alexander Muthoot, MD, Muthoot Finance, said, "Muthoot Finance has always strived to positively contribute to society. We were deeply saddened and heartbroken by the loss witnessed by people in the 2018 floods in Kerala. We have always maintained that a roof over one's head is the most basic need for a human being and losing it in a fatal disaster can leave people devastated as everyone tends to have a deep-rooted emotional attachment to their homes. Therefore, despite the multiple geographical challenges, we wanted to help out the impacted people by providing them with new homes. As of today, we are happy to mention that we have successfully constructed 250+ homes. The company remains committed to its mission of serving society and making a positive impact on people's lives."
Commenting on this initiative, Hibi Eden, MP, Ernakulum district said,"I am honored to commend Muthoot Finance for generously distributing keys of 14 Muthoot Aashiyana homes in Edavanakkad, Kochi, providing a much-needed shelter to marginalized families impacted by floods. Muthoot Finances' commitment to social responsibility goes beyond just business success and employment creation, and this act of kindness is a testament to its unwavering dedication to serving the community. Muthoot Finance embodies the spirit of giving back, and I am proud to acknowledge their efforts in advancing society."
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