CHIT-FUND SCHEMES CHIT FUNDDOMAIN
CHIT FUND SCHEME ďƒ’ The
chit fund scheme the punishment goes to the investors causing loss of life. In light of the rising incidents of unregulated collective investment schemes (CIS) going bust leading to huge losses to the public at large, the market watchdog Securities and Exchange Board of India (Sebi) has proposed a separate regulator to control chit funds and nidhis.
CHIT FUNDS Chit Funds are indigenous financial institutions unique to South India and predating commercial banks. They have stood the test of time, as evidenced by the growth in the number of chit fund companies in the South.
SHOULD YOU INVEST? ďƒ’ It
is not possible to calculate the exact returns as they depend upon the level of urgency of members (which decides the discount that they bid for and so the amount that will be distributed among the other members), which is highly variable.
ďƒ’A
chit fund is a good savings instrument for small investors and brings discipline in investments. It can be a reliable source of funds in an emergency.
INVESTMENT PRODUCTS ďƒ’As
chit funds are essentially not investment products, you must consider investing only if you see a need for funds in the near future that you may not be able to get from your bank," says Shetty.
WEBSITE http://chitfundsoftware.in
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- info@websoftex.in Mr. Santhosh Kumar
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