MjChits

A chit fund is a traditional community-based savings and borrowing system where a group of members contribute a fixed amount every month into a common pool. During each cycle, one member receives the pooled amount through a transparent bidding process. The system helps members save money regularly and access funds when needed.

The app is designed to digitally manage registered chit groups, member contributions, auction/bidding activities, payment tracking, and agent/customer management.

Yes. Chit funds in India are regulated under the:

Chit Funds Act, 1982
Applicable State Chit Fund Rules and Registrar regulations

The platform operates only as a digital management system for registered chit operations and member account management. Online payments are processed securely through authorized payment gateways such as Razorpay.

MjChits is a digital chit management platform that helps registered members, agents, and administrators manage chit contributions, auctions, payments, and account records securely and transparently.

The application follows applicable chit fund regulations and uses secure payment processing through Razorpay.