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Chit Funds amendment bill in next parliament meet-Union minister K Muraleedharan

Minister of State for External Affairs  V Muraleedharan has said that Chit Funds (Amendment) bill will be cleared in the winter session of  parliament . This bill includes hike in chitforemen’s (a foreman is one who runs a chit scheme; the fund manager) commission upto 7 percent.

He was responding to Kerala Chit Foremen’s Asociation office-bearers  after evaluating their memorandum.

The bill could not be considerd in the parliament due to unexpected reason in the last year-he pointed out.

The representatives convinced the minister the difficulty of runing chit companies in Kerala after the implementation of the central chit law.

The minister said he would arrange a meeting with Union Finance Minister Nirmala Sitaraman in this regard.

Kerala Chiti Foremen’s Association Davis Kannanaykal,CK Anilkumar,MJ Joji were among the delegation.

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