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.
The Minister said the E-chits application would usher in transparency in the chit fund business and prevent duping of customers.
He said people keen on subscribing to chit funds could check through the app whether the companies they were looking for were registered. They could get in touch with the assistant registrars of chits present in each district headquarters.
People can obtain more details about the initiative from the website https://echits.rs.ap.gov.in
Inspector General (Registration and Stamps) V. Ramakrishna and other senior officers were present.
