Money transfer player Muthoot Finance Ltd, which accounted for two million payouts to customers last year, aims to double it by next year, a top company official said today.
Muthoot is the largest distributor of remittances after the Post office, company officials said.
About Rs 75,000 crore is coming to India every year by money transfers with Muthoot Finance accounting for 10 per cent of it.
"We want to double this by next year," Bijumon, Chief General Manager and George M George, Executive Director, said.
In Kerala, Muthoot pays out Rs 3,000-4,000 crore every year through its 3,800 money transfer payout centers across the country.
The company today announced a 16-day campaign from August 16-31, promising assured gifts to all its customers in Kerala using their money transfer services during the festive season of Ramadan and Onam.
Gold coins will also be given to one money transfer customer on a daily basis through a lucky draw.
Besides, customers will be eligible for gifts announced by major Money Transfer companies like Western Union and Moneygram.
Due to rupee's devaluation against the dollar, remittances have increased, Bijumon said, adding that transactions have gone up by 20 per cent.