Diabytes
Chit funds News
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The consumer affairs department has started a campaign against these chit funds which are operating on a small scale in various parts of Bengal.
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Distancing themselves from illicit money pooling schemes, an apex body of chit funds on Tuesday said their business has taken a big beating because of the wrong 'perception' that all deposit-taking activities are illegal.
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The Reserve Bank Thursday allowed non-resident Indians (NRIs) to invest in chit funds on non-repatriation basis without any ceiling, a move that will encourage flow of capital into the country.
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