Chits Registration

Chits

• Citizens are cautioned before enlisting themselves in a chit to ascertain whether the chit group is a registered one.

• Conduct of unregistered chit is a criminal offence.

• List of Chit Companies and Chits registered with the Registrars available with every Sub Registrar under whom the area of operation of chit come.

Rights

• You have the right to demand the following from the Foreman.

• Registrars’ prior sanction for the conduct of chit.

• Copy of bylaw registered.

• Participation in the auction and bid the chit.

• Receipt of prize amount within 7 days of bid after furnishing the surety required.

• Receipt of dividend after payment of subscription periodically.

Duties

• Payment of subscription in time. .

• Births and Deaths registers in respect of Villages within the Panchayat area are preserved in the Sub-Registry Offices concerned.

• Extracts of Birth or Death from these registers may be obtained on payment of fees.