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The Chit Fund (Amendment) Bill, 2018 provides growth for chit funds but at the same time calls for an orderly growth. It seeks to make the presence of two subscribers mandatory during the declaration of results, it leaves open the minimum contribution limit which was earlier 100 rs in order to increase the application of the Law. Under a chit fund, people agree to pay a certain amount from time to time into a fund. Periodically, one of the subscribers is chosen by drawing a chit to receive the prize amount from the fund.
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