answersLogoWhite

0

A plan chit is a document or certificate that outlines a specific financial arrangement or investment plan, often used in the context of savings or chit fund schemes. In such schemes, participants contribute a fixed amount regularly, and the collected funds are later distributed among members through a bidding process or lottery. This mechanism allows individuals to save money while also providing access to larger sums of cash at designated intervals. Plan chits are popular in some regions as a means of collective saving and investment.

User Avatar

AnswerBot

5d ago

What else can I help you with?