When we hear about a chit fund investor, we tend to visualise a conservative housewife or a rural householder with no access to modern banking. It is true that women and rural folk were the major patrons of chit funds in earlier days. That’s because they needed an avenue for monthly saving and anytime withdrawal. […]
Chit funds
Chit funds Vs other Investment tools – how do they rate?
Paper money was invented as a financial instrument in exchange for goods and services around the 7th century in China. Since then various instruments of expenditure, lending, and investment of money have come into being. Bank deposits, equity shares, mutual funds, debt instruments, pension funds, chit funds and so on. An average citizen approaches the […]
Did you know about Japanese budgeting method – Kakeibo, for better money management?
With Makara Sankranti, a long and lovely holiday season comes to a grand close. Now it’s time to gear up for the new year ahead. Business goals, final exams and financial year end targets are going to be the main focus areas. With all the festivities coming to an end for the year, family expenditure […]
What you need to Know about Chit Funds (Amendment) Bill, 2019?
Landmark legislation passed for the Chit fund industry – Ushering in a new era of credibility and financial inclusion On November 20, 2019, the Indian parliament unanimously passed the Chit Funds (Amendment) Bill, 2019 that is aimed at setting up a mechanism to ensure transparency in chit fund schemes, protect subscribers and regulate the […]
Changes proposed in Chit Fund Act – A welcome move in investor’s benefit
The Government of India has recently announced that there is a plan to introduce key amendments to the Chit Fund Act 1982 in the next parliament session. This is a long awaited legislative step, which finds a wide welcome in the chit fund industry – from investors and companies alike. We at Shantala Chits whole […]
Stay away from fraudulent Ponzi schemes – earn your freedom from financial mismanagement
This Independence Day, let’s make a pledge. Let’s free ourselves and our near & dear ones from the dangers of fraudulent financial schemes. Let’s ensure we make informed and rational decisions. We must not fall for fake inducements of high returns. The after effects of the disastrous IMA scam are still echoing around us. The […]
Recent ban on unregulated deposit schemes – You are in safe hands
Shanthala Chits, as a leading and trusted chit fund company has a responsibility towards its investors and the general public. We are committed to spread awareness on the industry we operate in – the chit fund industry. Even though chit funds are a convenient and profitable option when compared to several other financial […]
How can Chit Funds help Business Owners and start-ups?
The recent article in Economic Times happened to cover an article about Flipkart’s current valuation had crossed $20 billion. Sachin Bansal and Binny Bansal started this business with an investment of Rs. 4 Lakhs in 2007. But what if they were not able to arrange those funds at that time? Would this giant […]
Are Chit Fund Investments relevant for the Millennial Generation?
In the earlier blog, we highlighted some of the solutions that chit funds provide to people interested in engaging in an easy mode of savings as well as borrowings. But the question that many often ask is how safe it is to park your money in a privately-owned chit fund? True, this is […]
Chit Funds – augmenting void generated by the traditional banking system in India
Do you remember the last time you wanted to go on that exotic holiday and found yourself short on funds? And then the pain and the frustration of being turned down by a bank for a personal loan because they the lender did not view as a credible borrower despite you earning a six-figure salary […]
