Revenue Minister Dharmana Prasada Rao has launched an electronic service delivery system called e-chits to protect the interests of chit fund subscribers in Andhra Pradesh.
The minister said that cases are being booked on chit fund companies against their resort to fraudulent practices to dupe the subscribers. In this context, the state has come up with the Software application to avoid cheating of the people by such firms.
The main objective was to ensure conduct of all transactions in chit fund business in a transparent manner. Subscribers must remain alert and check whether the chit fund firms they were trying to subscribe had proper registration with the government or not.