Muthoot Finance Limited will hold its 29th Annual General Meeting (AGM) on Monday, August 31, 2026, at 3:30 PM IST through Video Conferencing (VC) or Other Audio Visual Means (OAVM). The meeting is critical for shareholders as it seeks approval for significant leadership transitions, including the appointment of Alexander George as Managing Director and the reappointment of key executive directors for five-year terms. These resolutions are required under Section 197 of the Companies Act, 2013, and Regulation 17(6) of the SEBI Listing Regulations due to potential remuneration thresholds.

The Board of Directors, acting on the recommendation of the Nomination and Remuneration Committee (NRC), has proposed these appointments to ensure continuity and strategic growth. The NRC confirmed that all proposed appointees meet the 'Fit and Proper' criteria prescribed by the Reserve Bank of India. The meeting notice was issued in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Leadership Appointments and Reappointments

The most material resolution involves the appointment of Mr. Alexander George (DIN: 00938073) as Managing Director, effective October 1, 2026, till March 31, 2031. Mr. George, currently a Whole Time Director, has led operations across North, East, and West India since joining in 2006. Concurrently, Mr. George Alexander Muthoot (DIN: 00016787), the current Managing Director, will transition to the role of Vice Chairman and Whole Time Director for the same period, focusing on macro-strategic directions and mentoring the next generation of leadership.

Mr. Eapen Alexander (DIN: 03493601), currently Executive Director (IT and Digital Initiatives), will be appointed as a Director liable to retire by rotation and subsequently as Whole Time Director effective October 1, 2026. His appointment aims to broaden the Board’s expertise in technology, cybersecurity, and digital transformation.

Board Composition Changes

Shareholders will also vote on the reappointment of Mr. Joseph Korah (DIN: 09128318) as an Independent Director for a second consecutive term of three years, concluding at the 32nd AGM in 2029. Mr. Korah, Co-Founder of Impaqtive, brings expertise in IT strategy and cybersecurity. Additionally, Mr. George Alexander Muthoot and Mr. George Jacob Muthoot seek reappointment as directors liable to retire by rotation.

Voting and Meeting Details

Remote e-voting will commence on Friday, August 28, 2026, at 9:00 AM IST and end on Sunday, August 30, 2026, at 5:00 PM IST. The cut-off date for determining voting entitlement is Monday, August 24, 2026. The Register of Members and Share Transfer Books will remain closed from August 24, 2026, to August 31, 2026. Central Depository Services (India) Limited (CDSL) has been appointed as the authorized agency for e-voting and VC/OAVM facilities. Physical attendance is not permitted, and proxy forms are not available for this meeting.

Muthoot Finance has received an ongoing Forex License from the Reserve Bank of India (RBI), authorizing the company to provide broader remittance options to its customers. This regulatory approval represents a notable development in the company's financial services offerings.

RBI Forex License Grant

The RBI has granted Muthoot Finance an ongoing Forex License, a key regulatory clearance that enables the company to expand its remittance-related services. This license positions the company to serve customers seeking foreign exchange and remittance solutions under a formally recognized framework.

Significance of the Development

The receipt of this ongoing Forex License from the RBI underscores Muthoot Finance's commitment to expanding its suite of financial services. With this authorization, the company is now equipped to offer a more comprehensive range of remittance products and solutions to its customer base. The license reflects the company's compliance with regulatory requirements set forth by the central bank for entities operating in the foreign exchange domain.