MML, a part of Muthoot Pappachan Group (MPG), provides microfinance loans to women. MPG started its microfinance operations in 2010 as a separate division of Muthoot Fincorp Limited (MFL), the flagship company of the group. In December 2011, the group acquired a Mumbai-based nonbanking financial company (NBFC), Pancharatna Securities Ltd, and renamed it MML. In March 2015, MML received an NBFC-MFI license from the RBI. As on March 31, 2024, MFL held 50.2% equity and MFL's promoters held 5.3% in MML. Along with the promoters, MML's board includes one member nominated by Creation Investments and Greater Pacific Capital and four independent directors
