Incorporated on November 2, 2017, Ntp Shreenithya Chits Private Limited operates as a Non-Banking Financial Company (NBFC) under the regulatory framework for chit funds in India. The company's core business is managing chit fund schemes, which are a traditional form of saving and borrowing. In this model, a group of members contributes a fixed amount of money into a pool at regular intervals. One member of the group is allocated the total pooled sum (the "pot") during each interval through a bidding or lottery process. The company acts as the foreman, managing the collections, auctions, and disbursements, earning a commission for its services. This model provides members with access to a lump-sum amount for investment or personal needs, functioning as both a savings and a credit instrument.

Founded in

India