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Chit Fund in New Delhi

The Delhi branch commenced operations in the year 1954, at a time when the concept of ‘CHIT FUND’ was alien to this part of India. A leading English daily ‘The Statesman’ then wrote.
“First Vyjanthimala……..Now Chit Fund from South”
Chit Fund in Delhi NCR

Ever since, Balussery, New Delhi never looked back and has grown to be the largest chit fund company in Northern India, with no parallel. Catering to the fourth generation clientele, trust, the hallmark of Balussery, has only grown over the years. What the headline indicated, like a Prophesy, turned true!

Balussery – A Role model for the chit industry
Mr. T.S. Sivaramakrishnan, Director, who joined the business in the year 1972, heads the Delhi Branch. Being strategically located, apart from taking the company to greater heights; TSS was instrumental in organizing the chit industry, as a whole, which till such time was scattered. As a Founder-General Secretary of the All India Association of Chit Funds (Regd.), he is seen synonymous with the industry.

Be it the Implementation of ‘The Chit Funds Act, 1982’ throughout India, forming Rules for the State Government, or for that matter getting the Bill & Melinda Gates Foundation to study and select this sector as a channel for their Poverty Alleviation Program, his services have been highly indispensable.

He is a member of the Key Advisory Group on Chit Funds, formed by the Department of Financial services, Ministry of Finance, Government of India to study and recommend measures to enhance the role of this unique intermediary in the financial inclusion program, apart from suggesting measures to plug loopholes in the existing regulations.

His key contributions to the industry include victories in keenly contested legal tussles to exempt Chit Funds from TDS on Dividend, and more recently the Delhi High Court order striking down the levy of Service Tax on Chit Funds.

Contact Details for our Chit Fund office in Delhi:

“Bansi House”,
1/24, Asaf Ali Road,
New Delhi – 110 002
Phone # +91 (011) 2323 1424 / 2323 4035 /2323 2335
Telefax : (011) 2323 5461
Email :

Chit Regulatory Authority
The Registrar of Chit Funds,
13th Floor, Bikri Kar Bhavan,
I.P. Estate,
New Delhi.
Phone # 2331 8992

Click here to view our Chit Fund Plan in Delhi