Are Chit Funds Legal? | Rules, Red Flags, Next Steps
Yes, chit funds are legal when they’re registered and run under the Chit Funds Act and state rules; unregistered schemes can be illegal. If you’re asking “are chit funds legal?”, you’re usually trying to separate a real, regulated savings circle from a money-doubling trap. The word “chit fund” gets used for both. In India, a […]
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