Abstract
Chit funds have been a popular savings scheme in several parts of India for generations together now. It has paved its way as a convenient finance option amongst businessmen, small scale industrialists, and other small-time investors. Though very often shrouded by news of fraudulence, they have still managed to retain their popularity. So, what exactly are chit funds and how efficient a financial tool is it? Read on to find out more. Chit funds evolved years ago, when the present system of banking did not exist. Few families in a village would get together to form a chit or a group, to save money and to avail of loans amongst the group formed. A sensible person is chosen to manage the group. This informal system of saving prevailed only on trust. This study is to evaluate the “A Marketing Management Performance Analysis of Registered Chit Funds Companies in Tamilnadu.” The research concentrates on the financial performance of registered and unregistered chit fund marketing performance of chit fund companies. The area of the study is Trichy, Tripur and Erode in registered, unregistered chit fund companies and ge neral public also covered this area. The research is to identify what are the marketing management performances to make in the registered and unregistered chit fund companies and to compare the performance of registered and unregistered chit fund companies’ subscribers.
Highlights
Chit funds have been a popular savings scheme in several parts of India for generations together. It has paved its way as a convenient finance option amongst businessmen, small scale industrialists, and other smalltime investors
The reason why some of the chit funds companies in Tamilnadu in recent years defaulted to the customers are collecting deposits from the public by corresponding thousands of customers, assuring them high interest rates than banks and investing crore of rupees collected from the thousands of people and interested these amount in real estate business, finance business and movie making business and up with huge loses and failed to pay the amounts due to customers
SCOPE OF THE STUDY The scope of this study is to evaluate the “A Marketing Management Performance Analysis of Registered Chit Funds Companies in Tamilnadu”
Summary
Chit funds have been a popular savings scheme in several parts of India for generations together now. Chit funds have been a popular savings scheme in several parts of India for generations together It has paved its way as a convenient finance option amongst businessmen, small scale industrialists, and other smalltime investors. Few families in a village would get together to form a chit or a group, to save money and to avail of loans amongst the group formed. A sensible person is chosen to manage the group. This informal system of saving prevailed only on trust. As groups became larger and the money involved became huge, many companies started chit fund schemes with attractive offers. To provide for the regulation of chit funds and for matters connected therewith, the government introduced the chit funds act in 1982
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