AI-powered platform for MSIL Chits for smart and efficient user experience: Karnataka Minister

Karnataka Industries Minister M B Patil on Monday said that the state-run Mysore Sales International Ltd (MSIL) will get a first-of-its-kind AI-powered platform for a ''smart and efficient user experience'', to scale up its chit funds business.

He also said that the government aims to make MSIL's chit fund business reach Rs 10,000 crore from the current Rs 300 crore in the next five years, and to make it India’s leading chit fund.

''Karnataka is embarking on a significant journey to elevate the chit fund sector to new heights, with MSIL Chits, to make it India’s leading chit fund,'' Patil said in a post on the social media platform ''X''.

Stating that MSIL Chit will be trusted, safe, secured and scalable, he said, ''It will be first if it’s kind in the country, AI-powered platform for smart and efficient user experience. Aim to reach Rs 10,000 crores from 300 crores in the next 5 years.''