RANM begins in Erode
Chevalier Dr. R.A.N. Muthusamy Mudaliar starts a chit fund to help local families and traders save and borrow with trust.
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Since 1962 · 64 years
Three generations of trust, from Erode
RANM began in 1962 with one idea: help families save steadily and find money when life needs it. Today the third generation of our customers saves with us, now online from anywhere in India.
Our journey
From 1962 to the AI era
Scroll through six decades. The story starts in black and white and ends in the colours of today.
The beginning
1962 1971 The Mudaliar Educational Trust
The founder and like-minded people form the trust, which leads to Erode Arts and Science College.
Building a legacy
1980 Erode Institute of Technology
The trust opens a polytechnic college, so students can learn a trade and become self-employed.
1985 A new leader joins
Mr. A. Shanmugam, MBA, joins RANM and learns the business under the founder’s guidance.
1987 Autonomous status
Erode Arts College, affiliated to Bharathiar University since 1982, becomes autonomous.
1992 Kamatchi Amman ITI
The trust adds an industrial training institute for technical skills.
1994 Sapphire Benefit Fund
The founder starts Sapphire Benefit Fund Limited, a small savings and lending company.
1995 A college for women
Erode Arts College for Women opens its doors.
Growing with families
2005 Dr. RANM Arts and Science College
The women’s college is renamed in the founder’s memory and becomes co-educational.
2006 Sapphire Nidhi Limited
Sapphire Benefit Fund earns Nidhi company status, with Mr. A. Shanmugam’s support.
2012 Gobichettipalayam branch
RANM opens its second branch, bringing chit savings closer to families in Gobi.
The digital and AI era
Today Three branches
Erode, Gobichettipalayam and Sathyamangalam, with more than 1,000 customers and 30+ staff.
2026 RANM goes online
Join a chit from anywhere in India, pay instalments online, and get auction updates from our WhatsApp chatbot.
Next Smart, AI-assisted service
Instant plan suggestions and round-the-clock answers, with the same personal care our founder started with.
Timeline photos (tinted), via Wikimedia Commons: Shanze1 (CC BY-SA 4.0) · Mecheri Prabhagaran Weavers (CC BY-SA 4.0) · Magentic Manifestations (CC BY-SA 3.0) · Timothy A. Gonsalves (CC BY-SA 4.0)
Leadership
The people behind RANM
Founder
Chevalier Dr. R.A.N. Muthusamy Mudaliar
As a boy he could not go to school, because there was no school or transport nearby. He promised himself that one day he would open doors for students from poor and underprivileged families.
He kept that promise. Alongside RANM Chit Funds, he formed the Mudaliar Educational Trust in 1971, which built Erode Arts and Science College, Erode Institute of Technology, Kamatchi Amman ITI and a college for women, later renamed Dr. RANM Arts and Science College in his memory.
Managing Director
Mr. A. Shanmugam, MBA
Mr. Shanmugam joined RANM in 1985, soon after his MBA, and learned the business from the founder himself. His dedication and clear strategy made him Managing Director.
He supported Sapphire Benefit Fund in earning Nidhi status in 2006 and opened the Gobichettipalayam branch in 2012. He serves as Treasurer and Secretary of the Erode District Chit Funds Association, and has represented chit fund companies in discussions with the Government on the Chit Funds Act, 1982.
“Learning should be doing, not just knowing.”
What we stand for
Trust
Registered under the Chit Funds Act, 1982. Three generations of families have trusted us with their savings.
Transparency
Open auctions, clear dividends and written records for every member, every month.
Personal service
You speak to people who know you, at our branches, on the phone or on WhatsApp.
அருவினை என்ப உளவோ கருவியான்
காலம் அறிந்து செயின்.