Government launches e-chits to check irregularities

Vijayawada : Minister for revenue, registrations and stamps Dharmana Prasada Rao launched electronic service delivery system ‘e-Chits’ at Secretariat here on Monday. He said that the state government introduced e-Chits system to prevent irregularities and cheating by chit fund companies and to prevent financial loss to people.

Speaking on the occasion, the minister said that all the chit fund companies should adopt the new electronics applications e-Chits from now on and conduct operations through online system. He said that the new system will bring transparency in chit fund companies’ operations.

Prasada Rao said that people should be alert while joining chit fund companies and check whether the company was registered through e-Chits application. He said the chit holders can redress their grievances through online system through https://echits.rs.ap.gov.in portal.

Commissioner and inspector general, registration and stamps, V Ramakrishna said the initiative through which transactions can be done only online, will enable the registration department officials to verify subscribers and only then give approval. “This policy helps prevent fraud by chit fund companies and avoid loss to subscribers,” he said, adding that the app will also ensure that subscribers know which registered companies are operating in the chit fund business.

Subscribers can verify whether a chit run by a company is registered with the authorities or not, he said, including enabling them to enquire about the registered chits directly from regulating officials such as the assistant registrar of chits located at each district headquarters. The inspector general noted that in the event of any subscriber facing a problem with a chit fund company, the aggrieved subscriber can file an online complaint through the software to escalate the issue to the concerned officer of the department to find a quick resolution.