• About Chandra Lakshmi Chit Fund (CLCF)

    We are a financing company committed to providing smart and simple solutions to help our subscribers achieve their life Goals. CLCF reports to The Registrar of Chit Funds, Delhi. It has been registered under the Madras Chit Fund Act, 1961. We pack four decades of experience, goodwill and financial expertise to your service. We have an unblemished track record of working chits. We comply with directions of the Reserve Bank of India, wherever applicable. We are a profit making entity since inception and better the capital adequacy norms several times over. We lay special emphasis on requisite infrastructure, equipment, computerization and having centrally located office premises to enhance your experience of subscribing chits with us. We respect you need for information and establish channels wherever possible.

  • Our Unique Selling Point

    > Chit funds have been around even before the concept of banking existed. The reason it has stood the test of time is that Chit funds offer certain benefits no other financial product in the world can offer. Chandra Lakshmi is committed to providing you with a comfortable and safe chit experience.

    > With the Chit and loan schemes we provide free financial planning by our Certified Financial Planner Mr. Kamal Bhambhani. It is a highly sophisticated, prudent product. The true power of Chits is best understood when experienced.

    > As part of CSR we organize and sponsor a Blood Donation Camp every year since 1994. We are committed to the cause of the community and strongly believe that any contribution we make to our soil will go towards strengthening our roots. To fulfill our duties towards the society we participate in the projects of The Rotary Club of New Delhi, Sanatan Dharam Sabha and Bharat Vikas Parishad.


  • How safe are Chit funds? Should I be concerned for my investment in Chits?

    Your money is hard earned and there should be no reason why you should not take sufficient precaution with any of your investment anywhere. Chit funds are not a magical tool for getting 30% return on your money. Chits have their own kinds of benefits in suiting the different needs of its subscribers. If a scheme is too good to be true, be suspicious. Stock exchanges, banks and even governments lose money and default on payments. You need to assess which Chit company has secure processes and disbursal mechanisms. A list of all registered Chit operators has been made available online by the Registrar of Chit Funds, State of Delhi. If a Chit operator is not on that list, then that operator’s chits are being run illegally. 


    We at Chandra Lakshmi do not deal with cash reciepts or cash payments. We only operate via bank cheques.Chandra Lakshmi is a registered company, all the client registration forms and auction minutes are sent through the government of India to be carefully checked.


  • Why should I manage my funds with Chits instead of banks?

    Banks Vis-a-vis Chits


    Chit schemes are suggested and organised on a personal basis and involve financial planning for your life at Chandra Lakshmi.

    1. Chits have lesser requirements and conditions as compared to banking schemes.

    2. Decision making is made easier and faster with flexible chit plans.

    3. The income from chit schemes is also favourable as compared with the income from bank schemes in most cases. The prize amount is always more than the amount of deposits made in the chit. Liquidity is compromised when you make a Fixed Deposit with bank or join a recurring deposit scheme which is not the case with chits.


    Bank schemes and Chit schemes are two absolutely different financial instruments offering benefits in their own different ways. Banks were born to keep your money for you. That is it! A bank needs to safeguard your money. Banks make money from your capital and as an incentive, it offers to pay an interest to the people for parking funds with their bank. What they save in the middle is their profit.


    Chit schemes are unique, Chits were designed to help the ones in need, somewhat similar to Insurance. But unlike bank schemes or insurance in chits you are completely in control of your money and you are charged nothing for keeping this control in your hands. It is only fair to govern your money, Banks dont give you interest over the money you can control.


    You are crowdsourcing help when you need it and paying a little extra for the help you were given. Sometimes you participate by giving help when others need it, getting the little extra for the help you gave. Therefore, Chits promote a healthy economy with the appetite to absorb any kind of external shocks. From the outset, bank deposit schemes may look comparable to Chits, but they are not. Banks give incentive to save and invest.


    Chits can be a saving instrument, a loan scheme, a capital building exercise, a discipline inducing device, and a contingency buffer fund in the nature of an insurance against event uncertainty.


  • What are Chits?

    As defined in Section of the Chit Funds Act, 1982. According to Section 2(b) of the Chit Fund Act, 1982:


    "Chit means a transaction whether called chit, chit fund, chitty, kuree or by any other name by or under which a person enters into an agreement with a specified number of persons that every one of them shall subscribe a certain sum of money (or a certain quantity of grain instead) by way of periodical installments over a definite period and that each such subscriber shall, in his turn, as determined by lot or by auction or by tender or in such other manner as may be specified in the chit agreement, be entitled to the prize amount"


    We are two entities: The subscribers (the clients) and the foreman — the company or person conducting the chit. The Foreman brings the subscribers together and conducts the chit. The foreman is responsible for collecting the money from subscribers, presiding over the auctions, and keeping subscriber records.

    lets understand this by an example:

    1000 * 50 = 50,000/-


    Where 1000 is the maximum monthly contribution needed from a subscriber (which is not always constant)

    50 is the duration of the chit in months and the number of members (as there must be not more or less subscriber to receive the prize money every month.

    and 50,000 is the maximum sum assured.



    Once the chit group commences, the foreman has to register the chit with the registrar of chits. He has to pay 100% of the chit value as security. This amount can be withdrawn only after the said chit group closes and every subscriber is paid what is due to him or her. This regulation protects the interests of the subscriber to a certain extent.


    Visit our Office in Central Delhi to understand further personalised calculations by our financial planners.