.............“Absence of a regulator to monitor the activities in the chit fund sector is a major hazard,” points out P. Rajendran, Managing Director of Kerala State Financial Enterprises.
“The entry and exit load is low in chit fund business, providing ground for fraudulent groups to enter the scene. It is high time that a regulator akin to RBI, TRAI, and IRDA is instituted in the chit fund sector,” he says............
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