MLM Money Chit Fund - Chit Fund Networking
THE ORIGIN OF CHIT The word 'Chit', suggests the origin of Chit Funds. 'Chit' means a written note on a small piece of paper. In the Malayalam language, it is known as 'Kurr, which has been derived from 'Kurippu' (which means a piece of writing or script). The 'Chitty' or 'Kuri'l is a derivative, the root being the 'lot'. The foreman writes the name of each subscriber on a small piece of paper and folds it several times with the name inside for the purpose of deciding the prize-winner. He calls it the 'Kuri' or 'Chit' or 'Narukku' and in the transaction, one 'Narukku' also means one member.
Mr. Santhosh Kumar
Mobile: +91-9590355556 & 09886461360 / 9916807666
http://chitfundsoftware.in E-Mail:
info@websoftex.in
Websoftex Software Solution Pvt Ltd No: 240/A, 3rd Cross, Mathikere, Near SBM Bank, Bangalore-560054, Karnataka, India.
Auction Chits or Business Chits Under Auction Chits or Business Chits. The capital, less of foreman’s commission. Is kept open for bidding. The members present or by proxy, offer discount on the amount and the one who offers the highest Discount (or accept the lowest prize amount) is declared the prize-winner. In this auction system. it becomes possible for needy members to bid for an amount depending upon the urgency of their need. Auction Chits are highly beneficial to businessmen who need credit. By joining an Auction Chit of Their choice and paying subscription for one or two months, they can bid for a fairly big sum. The difference between Chit capital and the bid amount is distributed as dividend to the members - both prized and non-prized. Under conditions of ceiling on bid. When more than one member offers the ceiling Rate; there would be a draw among such members to decide the prize-winner. The Auction Chits are also known as Business Chits.
Chit Fund - Top Chitfund - Chit Fund Companies
Mr. Santhosh Kumar
Mobile: +91-9590355556 & 09886461360 / 9916807666
http://chitfundsoftware.in E-Mail:
info@websoftex.in
Websoftex Software Solution Pvt Ltd No: 240/A, 3rd Cross, Mathikere, Near SBM Bank, Bangalore-560054, Karnataka, India.