Haveri (Karnataka): Margadarsi Chit Fund has opened its new branch in Karnataka's Haveri, the 23rd in the state and the 110th for the Chit Fund company across India.
The branch was inaugurated by Margadarsi Chits (Karnataka) Pvt Ltd, Director, Lakshmana Rao, who invited the denizens of Haveri to avail of chit facilities from the company. The branch launched on Monday has "managed to do a business of ₹ 15 cr and the branch is hoping to do a business beyond ₹ 20 cr by the end of this month," he said.
Rao lauded the branch manager Kotrappa Banakar and the staff for their business achievement in three months. "At present, the Haveri branch offers chit group values from ₹ 1 lakh to ₹ 25 Lakh with a subscription of ₹ 2,000 to ₹ 1 lakh per month having chit duration of 25, 30, 40 and 50 months."
"We have a roadmap to open 25 more branches in Karnataka and two of them will be opened in the current fiscal year," he said. "Definitely, it is a good saving. If a person wants to take it immediately it will help him or her meet immediate financial goals. It would be a savings if they let the chit grow and withdraw it at the end. I have heard about Ramoji Rao, ETV since my school and college days and I know their honesty," a customer said.
"I have been associated with Margadarsi for 9 years. People from all walks of life make use of this. Their approach is good. Their services are professional. They carry out the paperwork promptly and make payments at the promised time. I have trust in this company. I will continue to be a customer of Margadarsi. Margadarsi has been in vogue for more than 60 years. Everyone who walks into the office gets a good experience," the customer spoke from his experience.
Margadarsi Chit Fund was formed over six decades ago. It introduced the people of Andhra Pradesh to a path towards a happier life, at a time when disciplined chit funds were relatively unknown. The brainchild of Ramoji Group Chairman, Ramoji Rao, Margadarsi pioneered the concept in 1962.
As time went on, chit funds gained popularity because individuals recognised them as an ideal means of profitable savings and quick access to funds during contingencies. Today, Margadarsi stands as the foremost Chit Fund Company and a household name in south India, according to the company.
Amidst the emergence of numerous chit-fund companies, Margadarsi has maintained its leadership position by upholding unwavering values such as honest performance, professional integrity, exceptional service quality and absolute financial discipline. These enduring principles have solidified Margadarsi's reputation and distinguished it from its counterparts in an ever-changing landscape, the company said.
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