Mr. M. Krishna Bhaarathy, Managing Director, Mylswamy Chits (P) Ltd receiving the Appreciation Award of Commendable Services Rendered in the field of Chit Funds for over a Quarter Century from Thiru N.Dhanamjayan I.A.S Inspector General, Registration, Govt.of Tamilnadu. 
Present Thiru. S.Kosalaraman I.A.S District Collector, Coimbatore on 6th March 2005

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Mylswamy Chits was born in the busy streets of Pollachi in Western Tamilnadu, one of the biggest coconut markets in South Asia at present, and biggest ancient weekly market of south India for all the products, in the name and style of A.Mylswamy Chettiar, Chit Agent at 1934 and later improved as a corporate by Mr. Mylswamy chettiar as its founder and followed by his son M. Krishnabhaarathy as its Managing Director.

The main objective of the company was to provide need based financial plans to its clients. The platform of chits was readily acceptable to the entire spectrum as it offered many positive attributes for financial planning.

The approach in the beginning was very personalized and highly focused on each individual. It was similar to being a family "Financial" doctor. The involved attitude towards the customers helped build closeness and trust with them. As a result Mylswamy chits have built lasting relationships and the ratio of repeat financial interactions is a near 100% from all solvent and dependable parties.

The success of customer oriented approach moulded and guided our business strategy and policy since, and Mylswamy chits has grown from a modest base to that of a several thousand in strength with customized and tailored financial plans being its mainstay.
 
Over the years Mylswamy Chits has complied to all possible statutory obligations and acquired relevant registrations and licenses from governing body with whom it has an immaculate track record. It started to computerize in 1999 and presently has all operations online with computers on every desk. It has acquired a new premises, better and qualified staff strength and is equipped with the most optimum infrastructural facilities.

Mylswamy Chits is also credited with designing and commencing many new financial products. It has acquired intellectual property rights in respect of various financial instruments under the relevant trademarks, copyright and patent legislation of the land. Mylswamy Chits has been involved with its trade bodies, the Coimbatore District Chit Funds Association (Regd) as Executive Member  and with Tamilnadu Chit fund Companies Association (Regd.) as ex-president, ex-Treasurer and presently Secretary. It is an active participant in the programs of these bodies. We have always maintained excellent relations with our bankers. Presently banking with the Karur Vysya Bank Limited and ICICI Bank Ltd, Pollachi. 

Mylswamy Chits has also maintained excellent ties with the society through the Lions Club, Pollachi Devanga Valibar Sangam, All Inida Sowdeswari Narpani Mandram, and Sri Sowdeswari Ambal Charitable Trust. It has regularly sponsored many kind of services to the humanitarian and even to the animals, like blood donation camps, eye camps, construction of shelters to the poor children, medical aid and educational aid to the poor needy persons, animal health camps for the agriculturist's animals, in direct and with associate with the Lions Club of Pollachi East. 

Some Finance Related Links 

1. Ministry of Finance, Government Of India http://finmin.nic.in 
2. Reserve Bank Of India www.reservebank.com 
3. Economic Times www.economictimes.com 
4. Tamilnadu Registration site http://www.tnreginet.net
5. Tamilnadu Chit Fund Act 
SOME OF OUR CLIENTS ARE.             A NOTE ON FOUNDER'S LIFE

CHIT MURASU JULY-AUG 04              50th ANNUAL REPORT