Margadarsi Chit Fund Opens Second Branch In Coimbatore, It's 114th In India

Margadarsi CEO Satya Narayana Pathuri inaugurated its new branch at Avinashi Road in Coimbatore today along with vice president Balarama Krishna amid an august gathering of people.

Coimbatore:Margadarsi Chit Fund Pvt Ltd on Friday opened its second branch in Coimbatore at Avinashi Road, making it the company's 114th branch in the country. The new branch was inaugurated by Satya Narayana Pathuri, Chief Executive Officer of Margadarsi Chit Fund.

Margadarsi Chit Fund, a pioneer in this business, was established in 1962 and currently has over 60 lakh customers with 113 branches across the states of Tamil Nadu, Telangana, Andhra Pradesh and Karnataka.

Having an annual turnover of Rs 9,396 crore, Margadarsi operates chit facilities as per the needs and convenience of customers. Margadarsi Chit Fund Private Limited is headed by Managing Director Shailaja Kiran.

The second branch that was opened in Coimbatore aims to address the financial needs of the people here. Vice president Balarama Krishna, Tamil Nadu director Sridhar and several other officials were present at the inauguration.

Pathuri presented the first receipt of the branch to Branch Manager Nixon. Through this new branch, Margadarsi Chit Fund will offer financial management and advanced technology services to its clients, its executives said.

A large number of Margadarsi Chit Fund managers and employees attended the inauguration of the new branch along with customers.

In February, Margadarsi Chit Fund had opened its 112th and 113th branches at Jagtial and Suryapet in Telangana. In her inaugural speech at the Suryapet branch, Margadarsi MD said that the firm has been serving lakhs of clients for the last 60 years.

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