Shanthala Chits has been a trusted chit fund company in Bangalore since 1996. We are registered under the Chit Fund Act of 1982, Government of Karnataka. We have been bringing to you stories with real life scenarios on how we can be your investment partner for various occasions in your life. Today, we bring you a story on how Shanthala Chits can serve as your perfect business partner with a smart funding strategy.
Mr Rao always looked forward to his Saturday evenings spent at his club, of which he has been a veteran member for over 3 decades. After a week full of stress and exhaustion at helming his business, a couple of hours spent in the relaxed environs of the club was just what he needed. He would meet his friends, most of whom were businessmen too, and share the events of the week. They would share their personal stories and exchange professional advice over a hearty meal and a game of Badminton or Pool. He would go back home revitalized and enjoy a lazy Sunday before getting back to the grind the following week.
Being the owner of an exclusive dealership for a leading Air Conditioning brand for the whole of Bangalore, Mr Rao had a stable and profitable business. He did not have to worry about competition, sales or manpower – all those aspects of his business were well settled. His only trouble was managing cash flow efficiently because the nature of his business was extremely seasonal.
As he parked his car and entered the club premises, he was mulling over a cash flow situation which had been worrying him for some time. On the way to the dining hall, he bumped into one of his friends Mr Murthy. After exchanging pleasantries, they settled down for a quiet chat over a steaming cup of coffee.
A few minutes into the discussion, Mr Rao came out with his problem and shared it with his friend. “Murthy, I am not yet comfortable with all this internet and mobile banking business. But after demonetisation, I am forced to learn all this. I understand it is for everyone’s good. But it has made arranging cash at short notice at bit of a problem.”
Mr Murthy was the Internet and Investment ‘Guru’ to all the club members. So people took his advice seriously. Mr Murthy absorbed all that his friend was saying. “Rao, tell me exactly why you need cash at short notice. Then we can figure out alternate solutions.”
Mr Rao went on. “As you know, in my business, most of the procurement happens before the summer season. There is very high demand for 2-3 months, so I need to make extra investment for this period. But for the rest of the months, a lot of my money is lying idle. I don’t to want to put my money in the stock market. I need some other efficient route where my money is safe and available when I need it.”
Mr Murthy didn’t hesitate even for a moment. For a traditionalist businessman like Mr Rao, he had the perfect solution in mind. “Rao, I think you should take a simple and traditional route. Something that doesn’t baffle you with technology. A solution where you can periodically pool in your idle money, and withdraw it exactly when you need it. You should invest in a chit fund.”
Excited by the suggestion but at the same time, a little apprehensive, Mr Rao enquired “Murthy, how to find a credible chit fund? How would I know my money is safe?”
Mr Murthy smiled at his friend and patted his shoulder to reassure him. “You could get in touch with Shanthala Chits. They have been in the business for over 23 years. They are registered under the Chit Fund Act of 1982, Government of Karnataka. They are reputed for their prompt customer service, they will help you choose the right scheme for your needs.”
Already pre-occupied in making mental calculations, Mr Rao exclaimed “Makes good sense, Murthy. Say, I put in about a Lakh of Rupees every month in Shantala Chits. Just when the seasonal demand increases, I can pull out my money and make my purchases! Thank you so much for relieving my worries, Murthy. This issue has been on my mind for a long time. ”
Now that he was relieved from his tension, Mr Rao was in a jubilant mood. It was a good 3 hours before the friends parted for the evening after a great evening of food, fun and chatter. Mr Rao left his club and drove towards home with the feeling of a day well spent.
Note – All characters in this story are imaginary.
Anuradha is a freelance writer cum corporate trainer in the IT/telecom domain with over 18 years experience. She served in senior technical and management positions in Huawei and TCS for 10+ years. Then gave up the traditional corporate ladder to go solo - in order to escape horrendous city traffic and to be at her own boss!