FAQ
1
What is
What is
a chit?
A Chit fund is a kind of savings scheme practiced in India. A chit fund company is a company that manages, conducts, or supervises a chit scheme—as defined in Section of the Chit Funds Act, 1982.
2
Why
Why
chit fund?
Chit provides a good source of finance for different type of people viz., businessmen, small scale industrialists etc. A Chit is the Only Financial Product that allows you to Save and Borrow.
3
How
How
it works?
The basic necessity of conducting a ‘Chitty’ is a group needy people called subscribers. The foreman—the company or person conducting the chitty—brings these people together and conducts the chitty.