RADHA MADHAV CHITS

Finance | ChitFund | ROSCA Radha Madhav Chits Pvt Ltd (Regd.) under The Chit Fund Act, 1982. A ROSCA Institution, Rotating Savings, and Credit Association, where a group of individuals agrees to meet for a defined period in order to save and borrow together. The chit means a transaction whether called chit, chit fund, chitty, Kuri, or by any other name by or under which a person enters into an agreement with a specified number of persons that every one of them shall subscribe a certain sum of money (or a certain quantity of grain instead) by way of periodical instalments over a definite period and that each such subscriber shall, in his turn, as determined by lot or by auction or by tender or in such other manner as may be specified in the chit agreement, be entitled to the prize amount.