VIJAYAWADA: Revenue Minister Dharmana Prasada Rao has launched an electronic service delivery system called ‘e-chits’ to protect the interests of chit fund subscribers in Andhra Pradesh here on Monday.
The minister said that cases are being booked on chit fund companies against their resort to fraudulent practices to dupe the subscribers. In this context, the state has come up with the software application to avoid cheating of the people by such firms.
The department of stamps and registration had developed the new software application, he said, and added that all the chit fund companies must carry out all their transactions through the software application only. This would help the department to monitor the transactions online and avoid any illegal practices, the minister claimed.
He asserted that the main objective was to ensure conduct of all transactions in chit fund business in a transparent manner. Subscribers must remain alert and check whether the chit fund firms they were trying to subscribe had proper registration with the government or not.
The minister also urged the people to consult the assistant registrar of chits in the respective district headquarters in case they faced any problem. The new app would also help resolve issues online, he added.
