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Muthoot Fincorp has entered into high-tech security business

The Muthoot Pappachan Group has floated a new company-MPG Security Group- with its flagship gold-financing arm Muthoot Fincorp to take its “”technologically advanced security services through emergency response teams (ERTs)” nationwide.

“MPG Security Group and its emergency response teams are the first of their kind initiatives in the country’s Rs 20,000-crore private security market,” Muthoot Pappachan Group chairman and managing director Thomas John Muthoot said.

“While we see large potential for every company that employs private security and needs technologically advanced security solutions, we see an immediate potential from the banking sector, especially for their ATM security,” he further said.

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