1. of ISIS’
galuru
e
DOUBLE LIFE
➤ By day, worked for
a multinational with
a strong presence in
India; by night, jihad
propagandist on
Twitter handle
@ShamiWitness
➤ Lived a quiet life in
a one-room apartment,
hardly spoke to
neighbours; landlord
had no clue about
his activities
➤ Drawn to religion
during his college
days, soon imbibed
extremist ideas
➤ Though he has
never been abroad,
believes in the idea of
an Islamic state,
police say
g
,
e
DI
U
Shenoy.Karun@timesgroup.com
Kochi: Three gold loan com-
panies in Kerala have more
precious metal in their
vaults than the gold reserves
of some of the richest na-
tions. Muthoot Finance, Ma-
nappuram Finance and
MuthootFincorpjointlyhold
nearly200tonnesof goldjew-
ellery, which is higher than
the gold reserves of Singa-
pore,SwedenorAustralia.
India accounts for ap-
proximately 30% of the glob-
al demand for gold, a true-
and-tested source of insur-
ance for millions of families
that have little access to oth-
er forms of social security.
What is true for India is even
more so for Kerala, where
two lakh people are employ-
ed in the gold industry. The
metal’s fungibility makes it
an ideal collateral for over-
the-counterloans.
Muthoot Finance holds
116tonnesof goldassecurity
for its loans, Manappuram
Finance has 40 tonnes and
Muthoot Fincorp, 39 tonnes.
The trio’s combined hold-
ingstotal195tonnes.
3 Kerala cos hold more
gold than Sweden, Oz
Together Have
195 Tonnes
In Their Vaults
GOLD’S OWN COUNTRY?
Gold loan
business
reflects Malayalis’
hunger for gold
and the strong
dowry system
which feed gold
and gold loans
— CJ George
GEOJIT BNP PARIBAS
India has the 11th
largest gold reserves
Muthoot Finance holds
116 tonnes of gold jewellery
Manappuram Finance 40 tonnes
Muthoot Fincorp 39 tonnes
GOLD
RESERVES
(tonnes)
80
Australia
126
SwedenSingapore
127
558
195
tonnes
TOTAL
Beats Greece, P 14
Hindujas buy UK’s Prez reported
stable afterHe wanted to be
N D I A
reer-best
er to
on debut as
d the second
ell was the first)
Kohli’s
match
aggregate is the
highest by a
captain on debut
Aussie spinner Nathan
Lyon declared man of
the match for taking
12 wickets including 7 in
India’s second innings
Oz skipper Michael Clarke
ruled out of the series with
torn hamstring. Says there’s
a chance he may
never play again
256141
P 23-24
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