Chit business, chit plan, chit operator, chit fund business, chit fund plan

CHIT-BUSINESS CHIT PLAN CHIT-OPERATOR

Chit Business • Chit business and other financial

transactions. The objective of starting KSFE was to check the mushroom growth of private Chit Funds by offering effective competition and thereby safeguarding the interests of the Chit subscribers.

• The basic characteristics of Chit

Funds in the country are similar and a uniform legislation can treat them all alike. Many Chit Funds have branches in more than one state and independent Act in each state.

Chit Fund • Chit fund is a financial savings

instrument widespread from even before the formal banking system began. Such an arrangement is carried out based on coordination and trust between operators and members.

Chit Fund Concept Chit fund is considered as traditional financial machinery operated by different institutions that prevail in India. It is an indigenous mechanism which together combines savings as well as credit. This scheme is looked as an innovative access to finance and growth of lowincome household savings.

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