The Rajya Sabha on Thursday passed the Chit Funds (Amendment) Bill, 2019, to facilitate the orderly growth of the chit fund sector and enable greater financial access to people. The Bill was passed by the Lok Sabha on November 20, 2019. 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...
![Parliament Passes The Chit Funds (Amendment) Bill, 2019 [Read Bill]](https://www.livelaw.in/h-upload/2019/11/27/750x450_367206-parliament-of-india-2.jpg "Parliament Passes The Chit Funds (Amendment) Bill, 2019 [Read Bill]")