Which of the following statement about 'Chit Fund' in India is/are correct ? 1. It is a kind of saving scheme. 2. There are no Acts regulating the activities relating to Chit Funds in India Select the correct answer using the code given below

Which of the following statement about 'Chit Fund' in India is/are cor

1.	Which of the following statement about 'Chit Fund' in India is/are correct ? 1. It is a kind of saving scheme. 2. There are no Acts regulating the activities relating to Chit Funds in India Select the correct answer using the code given below
Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/1-256655" style="font-weight:bold;" target="_blank" title="Click to know more about 1">1</a> only<br/>2 only<br/>Both 1 and 2 only<br/>Neither 1 nor 2</p>Solution :A chit fund company is a company that <a href="https://interviewquestions.tuteehub.com/tag/manages-1085880" style="font-weight:bold;" target="_blank" title="Click to know more about MANAGES">MANAGES</a>, conducts, or <a href="https://interviewquestions.tuteehub.com/tag/supervises-7715925" style="font-weight:bold;" target="_blank" title="Click to know more about SUPERVISES">SUPERVISES</a> a chit scheme-as defined in <a href="https://interviewquestions.tuteehub.com/tag/section-25668" style="font-weight:bold;" target="_blank" title="Click to know more about SECTION">SECTION</a> of the Chit Funds <a href="https://interviewquestions.tuteehub.com/tag/act-1106" style="font-weight:bold;" target="_blank" title="Click to know more about ACT">ACT</a>, 1982. According to section 2(b) of the Chit Fund Act, 1982.</body></html>