A large number of Chit subscribers of SGCF are Corporate/Business Houses, Professionals, Retail Traders, Small Businessmen and others who do not have access to bank or other Institutional finance due to rigidities in margin requirements, security,surety etc. It is gratifying that SREE GOKULAM could help thousands of such enterprises grow into prosperity with timely “SUPPLY” of resources.” GROW WITH GOKULAM” is what our customers say and the message we have for our new Clients.
It is unique in enforcing a ceiling of 25% on chit discount, even before the Chit Funds Act,1982 was enacted. Though the Act permits a discount upto 30% SREE GOKULAM still allows a maximum discount of 25% on all chits in order to protect the interests of all subscribers in general.
BANK FIXED DEPOSIT RECEIPTS are being offered to the registrar as chit security in compliance with section 20 of the Chit Funds Act,1982. The chit security deposits as on the balance sheet dates of the last five years are as shown here.
|DATE||CHIT SECURITY DEPOSIT IN Rs|