Bill to make chit funds investor-friendly moved

New Delhi: Aimed at protecting the interests of small investors and bring transparency in the operations of chit funds, Minister of State for Finance Anurag Singh Thakur on Tuesday introduced the Chit Funds (Amendment) Bill, 2019, in the Rajya Sabha.

Introducing the bill, the Minister said that it is designed to make chit funds more user-friendly, transparent and lower compliance burden.

"We have brought the bill to protect the interests of small investors," Thakur said while moving the bill for consideration. The bill seeks to amend Chit Funds Act, 1982. (IANS)

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