Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s
There is a new chit group that is commencing. The value of the chit is 500,000. This amount is known as the Chit Value.
For the purpose of this illustration, we will consider the duration of the chit to be 50 months. This is known as term period for the chit group.
The Foreman or Chit Fund Company has to gather 50 people who are interested in investing in this chit group. These 50 persons are called Subscribers.