Kolar (Karnataka): Margadarsi Chit Funds on Monday opened yet another branch in Karnataka making it the company's 22nd branch in the southern state and 109th across India.
The latest branch was inaugurated by Margardashi MD Sailaja Kiron in Kolar city of Karnataka amid an august gathering of people. "Today we have opened the 22nd branch of Margadarsi Chits in Kolar City. This will be the 22nd branch in the state of Karnataka as well as the 109th branch across the company," said P Lakshmana Rao, Director Margadarsi Chits.
Rao asked all the public of Kolar district to avail of the chit facilities from Margadarsi Chits. "To date, the Kolar branch has procured Rs 19 crores of business and we are expecting above Rs 26 crores of business by the end of this month. Kolar Branch has opened chit group values from Rs 1 Lakh to Rs 30 Lakh with a subscription of Rs 2,000 to Rs 1 lakh per month having chit duration of 25, 30, 40 and 50 months," he said.
Rao congratulated Branch Manager Hariprasad and his staff for achieving the goal within three months. "They have shown tremendous teamwork. We are happy to inform the Kolar branch will commence many more new chit-groups in the coming days. The cooperation of the public in the Kolar district is valuable to us. According to the financial needs and requirements of the public, Margadarsi Chits stands ready to provide its services always," the Director said.
Expressing his satisfaction with Margadarsi Chits, Mallesh, one of the subscribers, said "I have invested my money in Margadarsi and I have got good dividend. I have full faith in Margadarsi," he said. "We have the hope that we will get the money and our investments will help us get through difficult times without any issue. With Margadarsi, our money is in safe hands," another subscriber said.
Director Rao also announced that the company was planning to open a new branch at Haveri city in Karnataka in the month of October 2023 for which all the necessary statutory permissions from the Government of Karnataka have been obtained. "Two more new branches in Bengaluru are in the pipeline this financial year. We have ample sources to open 50 Branches in Karnataka and as a part of it, we are going for expansion of opening new branches in Karnataka accordingly," he said.
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