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Kerala’s Pravasi Chits garner 1,000 NRI subscribers in 5 days

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Kerala’s Pravasi Chits garner 1,000 NRI subscribers in 5 days
kerala, kjerala news, kerala latest news, news now“On an average, a chit scheme takes about two months to attain a critical minimum of subscribers.

Pravasi Chits, which the Kerala government floated to fetch funds for big-billed infrastructure projects, has garnered initial momentum, if its response from NRIs is any indicator. Within five days of the launch, the first cluster of 25 chit schemes has garnered 1,000 Gulf-based subscribers.


“On an average, a chit scheme takes about two months to attain a critical minimum of subscribers.


However, 25 Pravasi Chitty schemes got their essential minimum of subscribers and got activated within five days. The first auction is on November 25,” Kerala State Financial Enterprises (the Kerala government’s chit-fund arm) chairman Phillipose Thomas said.

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