Essay On Chit Fund

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A Registered Chit Fund Company makes a Security deposit equal to 100% of chit value in a Schedule Bank as FDR, which is pledged in favor of registrar of chits.

Therefore, a member in a registered Chit Fund Company is very much secured than a member in a non-registered company.

e Chit stands synonymous to transparency, efficiency and comfort.

You will have control over chit and will be able to take financially prudent decisions basis availability of information at your fingertips.

We are adding a host of extra benefits, which typically you won’t be getting in regular chits, especially to our customers.

We use an algorithm that will give a score to each subscriber basis the financial statements.

With the help of publicity, it became a household name.

Its position strengthened further with the change of government in May 2011 when the Trinamool Congress came to power, ending the 34-year-old rule of the Communist Party of India (Marxist)-led Left Front.

When a subscriber withdraws/leaves, the foreman has to find an alternate subscriber in his place.

Until then the chit fund company has to arrange funds on behalf of that subscriber.


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