What is chit funds ?

A chit fund is a type of financial arrangement that involves a group of individuals coming together to contribute money into a pool at regular intervals. The collected funds are then given to one member of the group, known as the "prize subscriber," through an auction-like process. This cycle continues until each member of the group receives a turn to receive the pool of funds. Chit funds are a form of informal savings and lending system that is commonly used in some cultures to meet financial goals. For more details about chit funds visit https://kopuramchits.com/all-about-chits/ and know all about chit funds.