Chit fund

A chit fund is a type of rotating savings and credit association system practiced in India, Bangladesh, Sri Lanka, Pakistan and other Asian countries.[1] Chit fund schemes may be organized by financial institutions, or informally among friends, relatives, or neighbours. In some variations of chit funds, the savings are for a specific purpose. Chit funds are often microfinance organizations.[2]

  1. ^ Rao, Preethi; Buteau, Sharon (2018-05-04). "Modelling credit and savings behaviour of chit fund participants". Gates Open Research. 2: 26. doi:10.12688/gatesopenres.12767.1. ISSN 2572-4754.
  2. ^ Lahkar, Ratul; Pingali, Viswanath; Sadhu, Santadarshan (December 2012). "Does Competition in the Microfinance Industry Necessarily Mean Over-borrowing?" (PDF). iimahd.ernet.in. Indian Institute of Management. Archived from the original (PDF) on 2014-10-22. Retrieved 2023-09-19.