ALL >> General >> View Article
Special Purpose Funds
Special purpose funds
Some chit funds are conducted as a savings scheme for a specific purpose. An example is the Deepavali sweets fund, which has a specific end date about a week before Deepavali. Neighbourhood ladies pool their savings each week. They use this fund to buy and prepare sweets in bulk just before the Deepavali festival, and they distribute sweets to all members. Preparation of Deepavali sweets may be a time consuming and costly activity for individuals. Such a chit reduces costs, and relieves members from extra work in a busy festival season. Nowadays, such special purpose chits are conducted by jewellery shops, kitchenware shops, etc. to promote their products.
Online Chit Funds
With the advent of ecommerce in India, Chit funds have also started going online. Online chit funds conduct auctions online and subscribers can pay their monthly dues and receive prize amount online through online transactions including electronic fund transfers. Each member has an online account to manage their chit funds.
Add Comment
General Articles
1. The Digital Revolution Of Video ContentAuthor: YouTube ReVanced
2. Delving Into The World Of Mock Psychology: A Humorous Exploration
Author: alpharegiments
3. The Evolution Of Typography In Graphic design
Author: Anshika digital media
4. Unleash The Power Of Your Codepipeline: Steps To Optimise
Author: social signiance
5. What Are Crypto Arbitrage Trading Bots And Their Importance?
Author: .
6. The Future Of Medical Billing: Innovations And Trends In New York's Healthcare Industry
Author: Paulpandi
7. ଜାଣନ୍ତୁ ଅଧିକ ଖାଇଲେ କେମିତି ଓଜନ କମେ
Author: Argus News
8. ଗରମରେ : କେମିତି ପିଇବେ ଚା କିମ୍ଵା କଫି
Author: Argus News
9. Hair Straightening ବାରମ୍ବାର କରୁଛନ୍ତି କି?
Author: Argus News
10. Unveiling The Enigmatic Beauty Of Blue Agate Slabs
Author: Fusion Gem Stones
11. ପ୍ୟାକ୍ ହୋଇଥିବା ଫଳ ରସ ପିଉଛନ୍ତି କି ?
Author: Argus News
12. Inchirierile De Masini Sunt Solutii Flexibile Si Atractive
Author: Razvan
13. Best State Of The Art Search Services In North Carolina, Usa
Author: Jyothsnarajan Dasi
14. Permira To Buy Majority Of Biocatch At $1.3bn
Author: Ben Gross
15. What Data Scientists Truly Accomplish, As Stated By 35 Data Scientists
Author: Sarika