Muthoot Exim, the precious metals division of Muthoot Pappachan Group (MPG), has launched its gold recycling centre in Bengaluru, with plans to open 14 or 15 more such centres by the end of 2017. Muthoot Gold Point in the city is the eighth centre in the country, after Coimbatore, Chennai, Delhi, Mumbai, Kolkata, Ahmedabad and Vijayawada. The company has claimed that the scheme has helped the government cut down the import of gold, by garnering and channelising domestic unused gold to productive use. Ongoing plan for opening new Muthoot stores is an added business advantage for the signage companies whose activities involve in-shop jobs.
