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  • Blue Chip

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    Sakshi Goel
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    A chit fund collects periodic subscriptions from members which are then disbursed as loans to members selected either by lot or auction. The promoter, also called the foreman, manages the fund and distributes the capital called prize money. Members make periodic contributions that are loaned out and the recipient must repay the full amount over time.

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    Blue Chip (6)

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    A chit fund collects periodic subscriptions from members which are then disbursed as loans to members selected either by lot or auction. The promoter, also called the foreman, manages the fund and distributes the capital called prize money. Members make periodic contributions that are loaned out and the recipient must repay the full amount over time.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    7 views1 page

    Blue Chip

    Uploaded by

    Sakshi Goel
    A chit fund collects periodic subscriptions from members which are then disbursed as loans to members selected either by lot or auction. The promoter, also called the foreman, manages the fund and distributes the capital called prize money. Members make periodic contributions that are loaned out and the recipient must repay the full amount over time.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Chit Fund

    A chit fund scheme typically involves the


    collection of periodic subscriptions from enrolled
    members, which is then disbursed as a loan to a
    member. The member is selected either by lot or
    through an auction. The promoter is also called
    the 'Foreman' and the capital given out is called
    'Prize Money'.

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