NRIs have been permitted to invest in regular chit fund schemes

Q.  Name the type of investors who have been given the permission from the Reserve Bank India (RBI) to invest in regulated chit funds in India?
- Published on 19 Jun 15

a. HUF
b. NRIs
c. Individual
d. Joint Hindu Family

ANSWER: NRIs
 
NRIs can subscribe to chit funds through banking channels, including accounts maintained in India. The state governments or Registrar of Chits may permit chit funds to accept subscription from NRIs on non-repatriation basis.

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