Question

Chit Fund companies are regulated by​

Answer 1

Answer:

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Explanation:

Chit funds in India are governed by theChit Funds Act, 1982. Under this Act, the chit fund businesses can be registered and regulated only by the respective State Governments. Regulator of chit funds is the Registrar of Chits appointed by respective state governments under Section 61 of Chit Funds Act.

Answer 2

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Answer.....

✔️The chit fund companies in India are regulated by CHIT FUNDS ACT which was established in 1982 .

✔️It states that only state government has the right to register and regulate chit funds business of its state .

✔️The registrar of the chits is appointed by the state government who is responsible for regulation of chit funds .

✔️chit fund is a type of rotating savings and credit association system practiced in India.

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