Navachethana Chits Mangalore Customer Contact Address

Company : Navachethana Chits Co. Private Ltd.,
Head Quarters : Mangalore
Industry : Finance
Service/Product : Chit Funds

Website : www.navachethana.com

Navachethana Customer Contact Address

Administrative Office :
Navachethana Chits Co. Private Ltd.,
Beauty Plaza Building, Ground Floor
Balmatta Road Opp. City Light building,
Hampankatta, Mangalore – 575001
Karnataka – INDIA

Related : Swarnalakshmi Chit Fund Tindivanam Customer Care Number : www.customercare.gen.in/3650.html

Branch Address

Mangalore :
Navachethana Chits Co. Private Ltd.,
Beauty Plaza Building, 1st Floor
Balmatta Road Opp. City Light building,
Hampankatta,
Mangalore – 575001
Karnataka – INDIA

Udupi :
Navachethana Chits Co. Private Ltd.,
Rehaman Commercial Center
2nd Floor,
Netaji Cross Road,
Udupi
Karnataka- 576101

Puttur :
Navachethana Chits Co. Private Ltd.,
Maheshwara Arcade,
1st Floor,
Near State Bank of Mysore,
Main Road, Puttur
Karnataka- 574201

Kundapur :
Navachethana Chits Co. Private Ltd.,
Ground Floor,
“YAKSHEKRIPA” Building,
Soornalli Road,
Kundapur
Karnataka – 576201

Hubli :
Navachethana Chits Co. Private Ltd.,
Laxmi Balakrishna Square,
Station Road,
Hubli
Karnataka – 580020

Belgaum :
Navachethana Chits Co. Private Ltd.,
2nd Floor,
Rajendra Complex building,
Khade Bazar,
Belgaum
Karnataka – 590001

Bellary :
Navachethana Chits Co. Private Ltd.,
2nd Floor,
Singhvi Mansion,
Bangalore Road,
Bellary
Karnataka – 583101

FAQs

1. What is a Chit?
It is a CONTRACT between the foreman, as the Promoter is called, and the subscribers, who join voluntarily. It is a FINANCIAL SYSTEM under which the periodical and regular savings of a group of subscribers are made available to each subscriber, a SPECIFIED AMOUNT every month (instalment) for a SPECIFIED PERIOD.

The Pooled funds every month are offered to the subscribers at monthly AUCTIONS and the subscriber who BIDS for the highest DISCOUNT is declared the PRIZE WINNER and given the PRIZE AMOUNT on proper security. A Prized subscriber also should continue to pay the subscriptions till the termination of the chit. The amount foregone as discount, less foremans commission is distributed among the subscribers as dividend.

2. What is a Chit group?
A Chit group refers to a specified number of members agreeing to subscribe a specified amount for a specified period. For example, 40 members, 40 months, Rs.500/- a month. The number of members and the number of months are to be the same.

3. Who is a foreman?
Any person under the Act responsible for the conduct of the chit and includes any Person, such as branch manager, discharging his functions.

4. Is the contract of the subscribers with the foreman valid for an indefinite period?
No. It is valid only for the duration of a CHIT GROUP and until the liabilities of subscribers to foreman or vice versa are discharged or paid in full.

5. What are the benefits of chit Subscribers?
a) To save in small amounts to receive a lump sum during the period of chit.
b) To borrow the future savings in advance. Some subscribers join chit funds to borrow and others to save.