Chit-Fund Chart, Chit-Fund Act, Chit-Fund Calculator, Chit-Fund Excel

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Benefits of investing in Chit funds
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Benefits of investing in chit funds

• Chit Funds have the advantage both for serving a
  need and as an investment.
• Money can be readily drawn in an emergency or
  could be continued as an investment.
• Interest rate is determined by the subscribers
  themselves, based on mutual decisions and varies
  from auction to auction.

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Benefits of investing

• The money that you borrow is against your own
  future contributions.
• The amount is given on personal sureties too
  unlike in banks and other financial institutions
  which demand a tangible security.
• Chit funds can be relied upon to satisfy personal
  needs.

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Benefits

• Flexible to savings
• The rate of take is cheaper than other financial
  schemes
• No formalities needed to join chit fund companies
• Cost of intermediation is the lowest
• Unlike other financial institutions, you can draw
  upon your chit fund for any purpose like
  marriages, medical expenses, childrens education
  .

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Chit fund and security

• With the excessiveness of invoice fund firms
  around, the protection of a coupon fund lies in
  selecting the correct one.
• In an exceedingly registered invoice fund
  company, below legal binding, the activities area
  unit regulated and institutionalized by the
  invoice Fund Act.
• And therefore may be thought of safe.

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Security

• However, different unregistered firms operational
  informally do exist.
• One has to exercise caution whereas selecting
  wherever he needs to speculate.
• Chit funds undoubtedly area unit a lovely choice
  for normal saving.

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Continue

• It inculcates a disciplined approach to money
  designing.
• Its the supplemental advantage of transportation
  a mixture of savings further as trouble free
  borrowing.
• This twin purpose investment tool may be a
  disciple in want every now and then of surprising
  money emergencies.

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Registration

1. Document Checking in Chit fund registration
2. Chit fund corporations in operation in urban
   center as a follow, initial get a certificate of
   incorporation from the Registrar of corporations.
3. The workplace of the Registrar of corporations
   (Delhi Haryana) is at IFCI Tower, statesman
   Place, New Delhi
4. After obtaining this certificate, you'll be able
   to apply for registration of the corporate with
   Chit Fund Department.

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Documents

• Govt. of N.C.T. of Delhi, 13th floor, Vyapaar
  Bhawan, I.P. Estate, capital of India a hundred
  and ten along with under mentioned documents
• Note and Articles of Association.
• Incorporation Certificate.
• Type No. a pair of relating to shares allotment.
• Type No.18 relating to registered workplace.

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Documents

• Type No. 32 relating to appointment of
  administrators.
• R.O.C. Receipt for filing of type No. 2, 18, 32
• Bank certificate for deposit of Rs.1, 00,000/- as
  paid capital.
• Resolution for appointment of foreman of the
  corporate.

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Affidavits

• Affidavits of the administrators regarding
• Age, healthiness and sound mind.
• Insolvency.,
• Non-conviction
• Membership/Directorship in alternative chit Fund
  Company.

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Documents Required

• Proof of possession of the workplace premises.
• No objection certificate from the owner.
• Rent Receipt of premises.
• Lay out set up of premises.
• Photo-copies of the Election Card/Passport etc.
  of the administrators.

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