MSIL's Ambitious Expansion Plan for Chit Fund Operations
Mysore Sales International Limited (MSIL) aims to expand its chit fund operations with ambitious targets of Rs 5,000 crore by 2026 and Rs 10,000 crore by 2028. The initiative, aligned with the Government of Karnataka, focuses on improving transparency, accessibility, and digital transformation to attract both small and large investors.
Mysore Sales International Limited (MSIL) has set ambitious targets for its chit fund operations, aiming for a turnover of Rs 5,000 crore by 2026 and Rs 10,000 crore by 2028. Currently, MSIL manages funds ranging from Rs one lakh to over a crore, according to the Karnataka Chitsters Association.
During the All India Chit Funds Summit 2025, MSIL's MD Manoj Kumar emphasized the firm's commitment to making chit funds a mainstream financial tool. The roadmap includes digital platforms for operations and aims to integrate rural households, enhancing trust and accessibility in the sector.
The Government of Karnataka is actively supporting this venture, pledging regulatory updates and digital innovations to minimize bureaucracy. This initiative looks to rejuvenate a sector long neglected and bring financial inclusion to more households across the state.
(With inputs from agencies.)
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