a kind of savings scheme used in India. Each person pays in a certain amount every month over a period of time and a prize decided by auction is given each month.
Synonyms and related words
Investing and investments
annuity
arbitrage
blue chip
chit fund
noun countable economicsIndian English
US /ˈtʃɪt ˌfʌnd/
DEFINITIONS1
1
a kind of savings scheme used in India. Each person pays in a certain amount every month over a period of time and a prize decided by auction is given each month.