Leader in gold loan business, Muthoot Finance is planning to expand its reach in the north eastern parts of the country. The non banking finance company (NBFC) plans to set up more branches in the region soon.

"We have around 1,700 branches in south India, while in north and west India we have about 450 and 250 branches respectively. To tap the growing opportunity in the northeast states, we will set up more branches there," George Muthoot, managing director, Muthoot Group said.

The company currently has 97 branches in the eastern wing of India. The company has its business entirely in the gold loan segment and does not wish to diversify itself too. "We are in a growing market and we do not have any plans to diversify our business," said George Muthoot.