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  • Category: Miscellaneous

    Do you participate in private chits organized by Individuals ?

    Many Individuals who have huge friends and relatives have started and doing private chit fund business through which a lump sum amount is guaranteed for those who need the same in that twelve month period. Many house wives without knowing to their husband, join those chit fund and try to have big amount which is spent for family purpose and festive occasions or even for school and college fees. But such house hold chit funds are not recognized and vulnerable to deceiving tendency. Today only, a women has cheated 60 labors in the name of chit and run away with 2 cr in Hyderabad Cherlapally area. What is your say on this ?
  • #644191
    I and my family participated in chit funds. And we never had an occasion to cheat or get cheated. It was very helpful to me when I needed money. I don't invest big money in chit fund. It is better to save money through Recurring Deposit in a reputed bank. More than the Chit Fund, I invest my hard earned money in RD. One should know the character of the person conducting the chit fund before investing their money.
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