Chit funds move up the value chain, face testing times like never before

Launch of online collection process, mobile applications and e-auctions has brought with this hitherto under-regulated industry greater governmental scrutiny

investment, spending, growth, economy, market

Chit funds are Indian adaptations of the globally acclaimed rotating savings and credit associations (ROSCAs), where the option to “save and borrow” exist simultaneously

Chit fund, an industry that is said to be at least 1,000 years old, is facing testing times like never before. One of the earliest forms of pooled resource financing

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First Published: Dec 9 2022 | 5:28 PM IST

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