R. Thyagarajan,Founder, Shriram Chits

Chit funds are a unique savings and borrowing mechanism in India, enabling individuals to pool funds for collective benefit. This system fosters saving habits, encourages financial discipline, and offers a viable alternative to traditional banking. Chit fund solution providers play a crucial role in this landscape by ensuring transparency, trust, and efficient fund management. They empower individuals and families with accessible financial resources, promoting savings and facilitating economic growth across various social strata.

Shriram Chits is one such distinguished player in this space, contributing significantly to the financial empowerment of individuals and communities alike. Established in 1974 with a single branch, the firm has rapidly grown into a trusted household name, making chits a viable option for savings and borrowing across diverse sections of society.

Operating in Tamil Nadu, Andhra Pradesh, Karnataka, and Maharashtra, Shriram Chits is renowned for its timely disbursements and exceptional customer service. Leveraging state-of-the-art computer systems and a transparent accounting process, the company has successfully transformed this traditional method of saving into a personalized, attractive alternative to conventional banking systems.

Shriram Chits offers comprehensive online services for a seamless customer experience, allowing subscribers to manage everything from the comfort of their homes. Shriram Chits prioritizes customer satisfaction through its user-friendly, efficient online platform.

The platform enables online enrollment for chit schemes and provides a space for specific enquiries, complaints, and suggestions. Subscribers can access various services through their login credentials, which can be obtained by contacting their branch office. Key features include checking subscriber status, requesting address changes, enquiring about dividends, and scheduling home pickups for subscription payments. Payments can be made via cash, cheque, demand draft (DD), post-dated cheque (PDC), or electronic clearing service (ECS), ensuring flexibility and convenience.

Driving Financial Freedom for Individuals

Shriram Group, since its inception in 1974, has been dedicated to creating wealth and empowering individuals, contributing to inclusive growth. This unwavering commitment has earned Shriram Group its unique identity and a reputation for effectiveness, transparency, and integrity, positioning it as one of India's largest financial services networks. Today, the Group serves over 40 million customers, with 80,000 agents and 12,000 employees across 1,000 branches and service centers, managing assets exceeding INR 13,500 crores.

As the largest chit fund entity in India, the company has become a trusted name in savings and investments and a pioneer in microfinance. Its impressive growth reflects both the value of this ancient financial instrument and the deep trust customers place in the Shriram brand. The company boasts an annual auction turnover nearing Rs 3,000 crores (USD 715 million) and serves a community of over 2.2 million subscribers. Known for its timely disbursement of funds and exceptional customer service, Shriram Chits has become a household name.

Operating across Andhra Pradesh, Karnataka, Maharashtra, Puducherry, and Tamil Nadu, Shriram Chits has expanded to 465 branches with a workforce of 6,000 employees and 65,000 agents. “Leveraging cutting-edge technology and a transparent accounting system, Shriram Chits has modernized this 3,000-year-old financial tool, offering a contemporary, reliable alternative to traditional banking systems. As it continues to grow and evolve, Shriram Chits remains committed to empowering individuals and fostering financial inclusion across India,” concludes R. Thyagarajan, Founder at Shriram Chits.