Your customers
- Traders and shopkeepers
- Salaried employees
- Small manufacturers
- Families saving for weddings, education and house work
Finance, insurance and kiosks · Services
MatruOS for a chit fund company
Set up the way a chit fund company runs: foreman's commission of up to 7% of each group's chit value, taken from the discount at each draw; penalty interest on late instalments; interest on float between collection and payout. Routines, workflows, registers, licences and an AI team that knows the work are ready when you sign up.
Ready when you sign up
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What this solves
What a chit fund company deals with today, and what MatruOS sets up for it
Today
Prized subscribers stop paying; guarantors cannot be traced. Discount share, commission and next instalment worked out by hand for every group.
In MatruOS
MatruOS sets up 8 routines, 2 workflows, 4 registers and 10 licences for a chit fund company, with an AI team that reads your own records and prepares the work.
What changes
The right person is reminded at the right time, approvals wait for whoever decides, and every licence has a renewal reminder. Anything that sends, pays, signs, files or deletes waits for a person's approval.
Where you sit
MatruOS starts from how your business earns
Who you sell to, who you buy from, how credit moves and where you sit in the chain decide how your screens, reminders and reports are set up.
- Subscribers
- foreman (registered with state Registrar of Chits)
- prized subscriber each month; savings-and-credit between informal bhishi and banks
Your suppliers
- Collection agents
- Banks (security deposit, bank guarantee)
- Chit auditor or CA
- Legal counsel for recovery
- Printers (passbooks and receipts)
Credit and cash
Members pay instalments monthly by a fixed date, with penalty interest after grace; prized member gets the net chit amount after security is approved; foreman pays within 7 days if future instalments are deducted
Monthly inflow from all tickets; monthly payout to one prized member; security deposits and guarantees lock 50-100% of each chit value with banks for the group's life
Your screens use your words
CustomerSubscriberOrderChit groupItemTicketInvoiceInstalment receiptproductChitSupplierAgent
How it works
How MatruOS is set up for a chit fund company
Set-up takes a few minutes. After that, you change only what is different in your business.
- Describe the business in one lineFor example "Chit fund company", typed when you sign up.
- Recognised as a chit fund companyRoutines, workflows, registers, items, licences and the AI team for this trade are set up for you.
- Bring your dataCustomers, items and balances come across from Zoho Books, Vyapar, Excel and others. For Tally, our team helps you move the data while Tally import is checked on the live app.
- Approve and runThe AI team prepares the routine work. A person approves anything that sends, pays, signs, files or deletes.
Your AI team
What the AI team does for a chit fund company
Each job goes to a member of your AI team. It reads your own records and prepares the work. Anything that sends, pays, signs, files or deletes waits for a person's approval.
Matches each agent's receipts with cash and UPI received, flags missing or duplicate receipts and prepares the deposit slip
Works it out and shows you
Works out each member's instalment net of the last share of discount and drafts the reminder with due date
Asks you before sending
Checks bids against the discount cap, computes commission, share of discount per ticket and net chit amount, and drafts the minutes
Asks you before signing
Lists prized members in arrears with their guarantors and drafts call notes and legal notices in order of risk
Asks you before sending
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How you run
Your routines, already on a timetable
Each routine has a time, a person and its steps with the checks that matter. MatruOS reminds the right person and keeps the record. Open one to see its steps.
Every day
6:00 pmAgents' collection deposit and receipt match
- 1Take each agent's cash and UPI list with receipt book
- 2Match receipts issued with cash and UPI received
- 3Post to the subscription ledger and deposit cash next morning
Every week
TuePrized subscriber default watch
- 1List prized members with one or more instalments unpaid
- 2Call the member and guarantors; send notice if two instalments are due
- 3Pass serious cases to the advocate for arbitration under s.64
Every month
1stInstalment reminders before the due date
- 1List each member's instalment net of last share of discount
- 2Send the reminder with amount and due date
1stMonthly draw (auction) for each group
- 1Confirm at least 2 subscribers present in person or by video
- 2Open bidding among non-prized tickets; discount not above the cap
- 3Record winner, discount, commission and share of discount
- 4Read out and sign the minutes with the subscribers present
1stFile draw minutes with the registrar
- 1Prepare the minutes in the state form for each draw held
- 2File with the Registrar of Chits within the state time limit and note the date
1stQuarterly member statements
- 1Send each member a statement of instalments paid and shares of discount
Every year
JunAudited balance sheet to the registrar
- 1Close the books for the year and get them audited
- 2File the balance sheet and profit and loss account with the registrar in the prescribed time
Workflows
Each stage goes to the person who handles it
Work passes stage by stage to the right person. Stages marked for approval wait for the person who decides.
New chit group from sanction to commencement
- 1Security deposit and bank guarantee
- 2Prior sanction applied
- 3Registrar sanction receivedNeeds approval
- 4Agreement signed and filed
- 5Commencement certificate received
Prized subscriber payout
- 1Winner declared at draw
- 2Security documents collected
- 3Security approvedNeeds approval
- 4Net chit amount paid by bank transfer
Registers and SOPs
Your registers and standards
Registers hold the fields this trade records. SOPs carry the steps and checks, so work is done the same way every time.
Register of subscribers
Minutes of draw
Subscription ledger
Prized subscriber security
Conducting the monthly draw
Run every draw the way the Act and the agreement say, so no member can dispute it
Prized subscriber security and defaults
Pay the prize only against good security and recover from defaulters lawfully
Items and licences
Your first bill is right, and no licence lapses
Starter items arrive with unit, HSN and GST rate. The registrations this business usually needs are listed with a reminder before each one expires.
| Item | HSN | GST |
|---|---|---|
| Foreman's commission (₹5 lakh chit at 5% each draw) | 997119 | 18% |
| Foreman's commission (₹1 lakh chit at 5% each draw) | 997119 | 18% |
| Foreman's commission (₹10 lakh chit at 5% each draw) | 997119 | 18% |
| Monthly instalment (₹5 lakh chit of 50 tickets; members' money) | 997119 | 0% |
| Penalty interest on late instalment | 997113 | 0% |
| Ticket transfer or substitution charge | 997119 | 18% |
| Passbook and document charge | 997119 | 18% |
- Chit fund registration
- GST registration
- PAN
- TAN (tax deduction account number)
- Shops and Establishments registration
- Professional tax registration
- FIU-IND registration (PMLA)If it applies
- PF registration (EPFO)If it applies
- ESI registration (ESIC)If it applies
- Udyam (MSME) registrationIf it applies
Your people
The people who run it, each with their own login
Each person sees the screens and reminders for the work they do.
ForemanHolds registrar sanction and security, conducts draws, approves security and payouts, signs minutes, deals with the registrar.
Branch managerFills new groups, supervises agents, checks security documents, follows up defaulters.
AccountantPosts collections, computes discount shares, prepares minutes and returns, bank reconciliation.
Collection agentCollects instalments door to door, issues receipts, deposits cash daily, brings in new subscribers.
Not covered yet
- Sending messages, bills and reminders on WhatsApp from MatruOS is not live yet. Today they go by link, QR code or email, and from your own phone in one tap.
- Live bank and UPI feeds are not connected yet. Upload a bank statement and MatruOS reads it into payments for you to confirm.
Questions people ask
How long does it take to set up MatruOS for a chit fund company?
Type one line about your business when you sign up, for example "Chit fund company". MatruOS picks this business type and sets up everything on this page in a few minutes. You then get a 7-day free trial, no card needed.
Do I have to type all of this in?
No. The routines, workflows, registers, items, licences and AI team on this page arrive already set up. You change what is different in your business, and bring your customers, items and balances from Zoho Books, Vyapar, Excel and others, with our team's help for Tally data.
Can I change the routines and workflows?
Yes. Every routine, workflow, register and SOP is yours to rename, retime, switch off or add to. MatruOS keeps the rest of the system in step with your changes.
What does the AI team do without asking me?
It runs routine checks and prepares drafts. Anything that sends, pays, signs, files or deletes waits for a person's approval. The one exception you can choose is payment reminders, which go out on their own once you have checked them and switched them on.
Finance, insurance and kiosks
Other services in finance, insurance and kiosks
Run a chit fund company on one system Set up for your trade when you sign up.
Describe your business once. MatruOS sets up your apps, brings in your data and puts Muni and the AI team to work, with your approval on every step that matters. 7-day free trial, no card needed.
See plans and what each includes