A Chit fund is a kind of savings scheme practiced in India. A chit fund company is a company that manages, conducts, or supervises such a chit fund, as defined in Section of the Chit Funds Act, 1982. According to Section 2(b) of the Chit Fund Act, 1982 (Reference form Wiki)
A video is worth more than thousand words. Refer to the link below. Video courtesy from IFMR (Institute for Financial Management and Research) and AIACF (All India Association of Chit Funds).
ChitMonks is an indigenous platform to help
a. Subscribers to manage all their chits smartly on one reliable platform.
b. Agents to manage all their subscribers and the chits at one place.
c. Foreman companies will be able to bring their best chits online to sell them
We use a scientific method to calculate the bid amounts and interests to personalize the recommendation of bids for each subscriber.