Bengaluru: Margadarsi Chit Fund launched its 119th branch in Kengeri, Karnataka on Wednesday. Sailaja Kiron, Managing Director of Margadarsi Chit Fund, who inaugurated the Kengeri branch, said that Margadarsi Chits Karnataka Pvt Ltd was started in 2000 and it successfully completed 24 years of service to the subscribers in the state.
She said that the 25th branch of Margadarsi in the state is opened at Kengeri on Wednesday. "Kengeri is located just 40 kms from Karnataka's capital city of Bengaluru and it has almost become part of the city limits now. Next month again, we will open a couple of more branches. Margadarsi is a fast-growing company in Karnataka," she said.
MD Sailaja Kiron said that being the third largest GSDP state in the country with nearly 260 billion dollars, Karnataka has huge potential. Bengaluru is contributing 40 percent to the state's economy. Bengaluru has become a seat of varied industries from automotive to electronics, electrical and information technology, she said.
Tremendous Potential in Karnataka
Listing out Margadarsi's future plans, she said, "Two thirds of the IT companies are in Karnataka, which is also home to a lot of agri and manufacturing companies. We see tremendous potential to offer our services to the people of Karnataka, to the small and medium enterprises, traders and also large scale industries with Rs 100 crore and Rs 200 crore turnovers."
She said that their company also looks forward to extend its services to the employees and those working in the health sector, including doctors. Margadarsi will always try to give best of its services to ensure the timely payment to the needy people. We select the subscribers who are disciplined and whose payments are regular so that our payments to them will also be very regular, she added.
MD Sailaja Kiron further said that in spite of many hurdles, Margadarsi has remained intact in terms of its excellence services to our customers. "We are thankful to the Karnataka people, who are hospitable, accommodating, very encouraging and supportive. Margadarsi started in 1962 is a hundred percent regulated company believing in organised systems and transactions."
'Staying by the word' is the motto of Margadarsi in terms of delivery of services, selection of subscribers and making of payments, she said.
Commitment to Financial Growth
MD Shailaja Kiron emphasized the company's mission of empowering the financial capabilities of individuals. “With the launch of our 25th branch in Karnataka, Margadarsi aims to bring more economic opportunities to the people here. We are committed to maintaining transparency, discipline, and trust while helping our customers meet their financial goals, whether it's education, buying home, or entrepreneurship,” she said.
She highlighted Margadarsi’s history of customer satisfaction since its inception and it currently employs 4,100 staff members and has 18,000 agents, making it a significant contributor to employment and financial stability in the region. The newly inaugurated Kengeri branch will provide local residents with accessible and reliable financial solutions, she said.
Margadarsi’s Karnataka Regional Director Lakshman Rao, Vice President Balaram Krishna, and branch managers from across Karnataka were present. Later in the evening, Margadarsi plans to launch its 120th branch in Hosur, Tamil Nadu.
Lakshman Rao, Regional Director, said “Our expansion reflects the confidence and trust that customers have placed in us. Kengeri is yet another milestone in our journey of empowering lives.”
A customer said, “Margadarsi has been a lifeline for my family’s financial needs. This new branch is a testament to their commitment to customer-centric services.”
Financial Empowerment
Margadarsi Chit Fund has been strengthening its presence across the southern states of Karnataka, Telangana, Andhra Pradesh and Tamil Nadu, demonstrating its dedication to empowering individuals and families to achieve their financial aspirations. The company aims to bring financial independence closer to the people.
Since its inception in 1962, Margadarsi has been known for its credibility and reliability, reaching its services to over 60 lakh subscribers and a cumulative auction turnover of Rs. 9,396 crore. Over six decades, Margadarsi has stood as a pillar of financial strength for families and businesses in their efforts to realise their dreams.
Read More:
1. Margadarsi Chit Fund: Three New Branches Launched Virtually by MD Sailaja Kiron
1. Ramoji Group Launches Sabala Millets-Bharat Ka Super Food at Ramoji Film City
