Over five decades ago, Margadarsi Chit Fund showed the people of Andhra Pradesh the way for a happier life. Guided by the vision and determination of Sri Ramoji Rao, Margadarsi made its humble beginning in October, 1962, in a small office with just two people working. To him can be credited pioneering the concept of chit funds in the state as never done before. Now it has become a household name in Andhra Pradesh.
Far from being a popular form of planning that it is today, chit funds was a little known concept when Margadarsi unfolded it in Andhra Pradesh. But with the passage of time and experience, chit funds became popular as people discovered in it an ideal way to save profitably and raise money at short notice to meet the contingencies. Many companies followed suit and chit fund companies sprung up like mushrooms. In this vast changing scenario, Margadarsi’s unchanging values like honesty of performance, professional integrity, high quality of service and absolute financial discipline helped in retaining its leadership position.
Margadarsi enjoyed exponential growth over the years and today employs 4,300 employees, and has 8,000 agents, 103 Branches, over 3,88,000 subscribers and a turnover of over Rs. 7600 crores. Margadarsi is not only No.1 Chit Fund Company, but also a household name in Andhra Pradesh.