Chit Business, Chit Plan, Chit Operator, Chit Fund Schemes, Chit Fund

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Chit Manager The chit manager gets a high return on the chit business which is justified by the high risk of 5 of the chit value for every scheme. This provides a regular monthly income of around Rs.10000 on an average for every scheme that is in vogue.

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Income flow  This steady income flow is sufficient to cover the operating cost and other statutory costs of running the scheme. The interest lost on the deposit that needs to be made an initio and the monthly contributions as part of every scheme that has to be borne by the manager require such an income source to keep him/her afloat.

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The chit manager auctions out the ’pot’ every month on a particular date. The members who wish to participate in the auction assemble at a particular place generally the chit manager’s office and call out their bids. Chit Manager

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Chit Fund Software

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How popular are chit funds in India  Kerala State Financial Enterprises KSFE set up in 1969 and wholly controlled by the state government.  Out of its aggregate business turnover of Rs 18000 crore per year around Rs 12000 crore come from chittis as they are known in Kerala alone.With 460 branches in Kerala and 16 lakh subscribers KSFE is perhaps the only profit-making chit business in the public sector.

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How does the organiser of the chit fund make money  An organiser of a chit fund makes money by charging fees of 5 percent of the total amount of the pot. That we have already seen. There is another less evident way in which he makes money. The highest bidder for the pot is not given the money immediately. "For instance it is a common phenomenon for the loan to be disbursed a month after the auction date.

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What kind of returns do chit funds give People who enter a chit fund to borrow money end up bidding for the pot with very high discounts. This ensures that they end up paying an effective interest. These individuals do not make any return from the chit fund.

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Whatsapp– Mobile- Skype– PH-

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ADDRESS 240/A 3rd Cross Gokula 1st Stage 1st Phase Mathikere Bangalore - 560 054 Karnataka India.

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