Can someone explain in simple language what is a Chit Fund
1 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 02 April 2021
A chit fund is a type of rotating savings and credit association system practiced in Pakistan, India, Bangladesh, Sri Lanka and other Asian countries. Chit fund schemes may be organized by financial institutions, or informally among friends, relatives, or neighbours
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