Question

Write a note on chit fund ? 5 points

Answer 1

Organised chit fund schemes are required to register with the Registrar of Firms, Societies and Chits. A chit fund company is a company that manages, conducts, or supervises such a chit fund, as defined in Section of the Chit Funds Act, 1982.

Mark me AS BRAINLIST

Answer 2

Chit fund is a type of savings scheme practiced in India. A chit fund company is a company that manages, conducts, or supervises such a chit fund, as defined in Section of the Chit Funds Act, 1982. ... In Kerala, chitty (chit fund) is a common phenomenon practiced by all sections of the society.