Andhra Pradesh Revenue Minister Dharmana Prasada Rao on May 15 (Monday) launched ‘E-chits’ application of the Registration and Stamps Department. The application is aimed at ensuring better regulation of the chit fund businesses in the State.
“All chit fund transactions will be done through that application which was developed by the Registration and Stamps Department, keeping in view the increasing number of cases of cheating of customers by chit fund companies,” said the Minister after launching the application.
The officials concerned would accord online approvals to transactions for which the companies have to ensure all the necessary compliances through the E-chits platform.
