AIMS and OBJECTIVES OF ALL INDIA CHIT FUNDS ASSOCIATION

“To create sense of brotherhood, mutual harmony, love and affection among the members of the Society and to help in solving the internal disputes/matters of the members of the Society”

The All India Association of Chit Funds an Apex body at the national level, committed to:

Confederate the functioning of all State and District Chit Associations in India, promote ethical values in its working, for the overall benefit of the subscribing Public; propagate and uplift the image of chit fund Industry, bring in value addition in its working and position this Traditional Financial Technology against other financial intermediaries in the Financial Inclusion program, without compromising on the Investor protection measures.

The Association, in existence for the last 3 decades had been interacting with various government agencies playing a major role in the formulation and implementation of various legislations at Central and State level. As the Chit Industry is yet to breath the fresh air of the on going liberalization programme, we have the huge responsibility of bring in awareness on our role in the National Economy among the Legislatures, Administrators and the Subscribing Public. As it is not the mere formulation of legislation but the effective implementation that matter, the need of the hour is have a user-friendly legislations, in tune with the on going Government policies Though the total number of members in the Association through the State and District Associations are exceeding 30,000 in number, the immediate challenge before the Association is to cover the unregistered segment expected to be at least 100 times of the registered ones to the mainstream in the overall interest of every one.