THIRUVANANTHAPURAM: Minister for Food and Civil supplies and Registration Anoop Jacob has said at a press conference here that strict action will be taken against unregistered chits and chit funds in the State. “Not only chit fund institutions, various chits should also be registered,” he said.
“Chit fund institutions that work in the State after having registered their office in other states will also come under scrutiny. Such institutions which have registrations from other states need to submit the permit granted by the State government,” said the minister who also added that “the details of the institutions where the chits can be registered will be published on the government website.”
He said that “332 chits other than KSFE were registered in the last financial year and in the examination it was found that 651chits were unauthorised and 31 chit fund institutions were illegal. Awareness campaign will be started among the people against illegal chits”.
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