Terms and Conditions
Rules for using MjChits digital services and participating in chit operations.
These terms apply to the website, customer mobile app, agent mobile app, admin portal, branch-assisted workflows, chit group participation, collections, auctions, payments, chats, notifications, and support features.
Last updated: 06 May 2026. By using MjChits services, you agree to these terms, the applicable chit group documents, payment rules, branch instructions, and legally required records.
1. Eligibility and account registration
You must provide accurate registration, contact, profile, bank, nominee, KYC, and employment information when requested. Customer accounts are for customers only. Agent accounts are for authorized company agents only. Admin access is restricted to authorized company personnel.
2. Authentication and account safety
The service supports password login, backend phone OTP, Firebase phone authentication, Google Sign-In for customers, Sanctum API tokens, device sessions, and push-notification tokens. You are responsible for protecting your password, OTP, phone, email, device, and app session. Report unauthorized access immediately.
3. KYC and verification
Customers and agents may be required to submit identity, address, bank, and profile documents before full service access, payments, payout processing, auction participation, or other operations. MjChits may approve, reject, or request updated documents where information is incomplete, incorrect, expired, or inconsistent.
4. Chit groups and membership
A customer may view open or active chit groups and join eligible groups subject to capacity, group status, verification, branch approval, and applicable group rules. Group amount, duration, total members, installment amount, late fee, commission percentage, auction settings, and assigned agent may differ by group.
5. Installments, collections, and receipts
Members must pay installments and any applicable balance, due amount, late fee, or other charge on time. Payments may be recorded by authorized agents, by admin users, or through online payment workflows. You should review receipts, passbook entries, payment status, and transaction details promptly and report mismatches with supporting proof.
6. Online payments
Online payments are processed through Razorpay. A payment is treated as successful only after backend verification and payment record creation. Failed, pending, duplicate, reversed, or disputed transactions may require reconciliation with the payment provider, bank, branch, or MjChits support team.
7. Agent collection and offline sync
The agent app may temporarily save collection entries on the device when the network is unavailable. A locally saved entry is not final until it is successfully synced to the backend and appears in official records. Agents must not create false, duplicate, backdated, unauthorized, or misleading collection records.
8. Auctions, bids, dividends, and payouts
Auction access is limited to eligible members of the relevant chit group. Bids must follow the auction schedule, minimum increment, maximum bid percentage, live auction status, and group rules. Winning bids, payout amounts, dividends, commission amounts, and auction results are calculated and recorded according to the applicable group settings and backend records.
9. Risk disclosure and regulatory context
A chit fund is a community savings and borrowing arrangement where members contribute to a common pool and eligible members may receive the pooled amount according to group rules and auction or bidding records. Chit fund operations in India are regulated under the Chit Funds Act, 1982, applicable State Chit Fund Rules, registrar requirements, records, audits, and approvals. MjChits digital services are intended to support registered chit operations and member account management only.
10. No loans, gambling, or investment advisory service
MjChits does not provide instant loans, payday loans, personal loan facilitation, credit lines, gambling, betting, crypto trading, stock trading, or public investment advice through the app. Chit participation carries eligibility conditions, installment obligations, documentation requirements, auction rules, and operational risks. Users should rely on official chit documents, branch records, and applicable law.
11. Chat, tickets, and communications
The app provides direct chat, group chat, receipt attachments, support tickets, admin responses, notifications, payment reminders, auction updates, and service messages. Users must not send unlawful, abusive, fraudulent, misleading, confidential third-party, or irrelevant content. MjChits may review, retain, restrict, or remove communications where needed for operations, support, safety, or legal reasons.
12. Prohibited activity
You must not misuse APIs, attempt unauthorized access, tamper with receipts or payment records, submit false KYC, impersonate another person, share accounts, interfere with auctions, bypass security controls, upload malicious files, reverse engineer the app, scrape data, or use the service for unlawful purposes.
13. Availability and changes
Digital services may be affected by internet connectivity, device issues, maintenance, hosting, Firebase, Razorpay, Reverb/WebSocket availability, third-party services, or force majeure events. MjChits may update features, workflows, validation rules, service URLs, notification methods, and operational processes from time to time.
14. Records, disputes, refunds, and support
Backend records, verified receipts, official branch records, and applicable chit documents will be used to resolve service disputes. Raise issues through support, branch contact, or mjchitspvltd@gmail.com with registered details, payment references, screenshots, receipts, and relevant dates.
15. Limitation of use
Website and app content is provided for service access and operational convenience. It is not investment, tax, legal, or financial advice. Participation in any chit group should be based on the official group documents, eligibility, personal responsibility, and applicable law.
Contact Information
For policy questions, refunds, cancellations, payment reconciliation, KYC issues, auction concerns, support escalation, or account data requests, contact MjChits Pvt Ltd with your registered name, phone number, role, chit group or payment reference, and supporting documents.
MjChits does not provide instant loans, payday loans, gambling, betting, crypto trading, stock trading, or public investment advisory services through the app.