Chit funds, a rotating saving scheme that has been a part of India’s financial ecosystem for over a century, are great instruments for saving and borrowing. They offer high ROI, serve as a reliable source of funds in emergencies, and promote financial inclusion even in rural India. Before digitization and the emergence of online chit funds, the traditional chit funds sector rested on the pillars of trust and community support, enabling people to save and borrow without reaching out to banking institutions. |
