Manappuram Finance Limited

Thrissur, India

Manappuram Finance Limited is India's second-largest gold loan company based in Kerala. The company offers a range of financial services including gold loans, microfinance, vehicle finance, and housing finance.

CCI Score

-46.03

0.03% April 18

Latest Event

Manappuram Finance Limited BRSR Report 2022-23: Labor Rights Concern

The 2022-23 Business Responsibility and Sustainability Report for Manappuram Finance Limited underscores a significant shortfall in employee representation as the company explicitly states that it does not recognize any employee unions or associations. This absence of union recognition raises serious concerns regarding labor relations and ethical responsibility, potentially contributing to broader patterns of corporate complicity in undermining worker rights and democratic accountability.

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QUISLING

Manappuram Finance Limited is currently rated as a Quisling.

-44 to -59 CCI Score

These companies are fully aligned with authoritarian regimes. They not only support but also enforce oppressive policies, playing a significant role in the regime’s operational apparatus and contributing directly to its consolidation of power.

Latest Events

JUL

26

2023

Manappuram Finance Limited BRSR Report 2022-23: Labor Rights Concern
-42.04

The 2022-23 Business Responsibility and Sustainability Report for Manappuram Finance Limited underscores a significant shortfall in employee representation as the company explicitly states that it does not recognize any employee unions or associations. This absence of union recognition raises serious concerns regarding labor relations and ethical responsibility, potentially contributing to broader patterns of corporate complicity in undermining worker rights and democratic accountability.
-50

Labor Relations and Human Rights Practices

March 21

Manappuram Finance Limited's report clearly indicates that it does not recognize any employee unions or associations, effectively denying its workforce collective bargaining rights. From a left-leaning perspective that emphasizes worker empowerment and fair labor practices, this is a significant detriment. The lack of unionization impedes workers' ability to negotiate conditions and protections, contributing negatively to the company’s overall ethical responsibility and complicity in oppressive business practices.

Business Responsibility and Sustainability Report FY 2022-23
NOV

05

2020

Employee Relay Dharna Against Anti-worker Policies
-44.84

Employees of Manappuram Finance protested against alleged anti-worker practices, including unfair termination, denial of benefits, insufficient wages, and restrictions on maternity leave, highlighting serious labor rights concerns.
-70

Labor Relations and Human Rights Practices

March 21

The protest led by Manappuram Finance employees reveals significant labor rights violations, including the dismissal of workers, denial of social security benefits, and restrictions on re-employment after maternity or ESIC leaves. Such practices reflect a neglect of proper labor relations and contribute to an authoritarian, exploitative work environment, thereby earning a strongly negative score.

Kerala: Manappuram Finance Employees Launch Relay Dharna against ‘Anti-worker Policies’
NOV

02

2020

No Minimum Wage, No Maternity Leave: Exploitative Labor Practices at Manappuram Finance
-51.21

NewsClick reports that employees at Manappuram Finance Limited are protesting against denied minimum wages, lack of maternity leave, and other exploitative labor practices. These issues highlight significant labor rights violations and a pattern of management behavior that suppresses union activities and worker welfare.
-80

Labor Relations and Human Rights Practices

March 21

The article details severe labor rights violations at Manappuram Finance Limited, including the denial of minimum wages and maternity leave. Such practices not only harm workers but also discourage unionization, reinforcing exploitative labor practices that contribute to broader authoritarian dynamics.

No Minimum Wage, No Maternity Leave: How NBFCs in Kerala are Exploiting Employees