1Visiting Supervisor, Jayoti Vidyapeeth Women's University, Jaipur, A-84, Singh Bhoomi Colony, Khatipura, Jaipur, Rajasthan, India
2Research Scholar, Jayoti Vidyapeeth Women's University, Jaipur, F-303, Prateek Wisteria, Sector 77, Noida, Uttar Pradesh, India
Online published on 17 March, 2021.
Non-banking financial companies are at all time high now a days. Many such companies have started offering lucrative schemes by promising high interest rates and borrowing schemes to their investors. These schemes, generally termed as Chit Funds Schemes today have become the easiest choice of saving and borrowing technique. Investors are becoming the victims and taking high risks in name of such chit funds. People are not able to identify the difference between a registered chit fund company which are legal and safe and the unregistered unorganized chit fund companies. This paper makes an attempt to illustrate the working principle of a recognized chit fund company, chit fund scams in India, policy initiatives by the government to safeguard investors. This paper is an attempt to enhance the awareness among people before making their choice and decision of choosing a chit fund scheme.
Chit Fund Companies, Chit Fund Schemes, Chit fund scams, Chit Fund Act
