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[Cites 0, Cited by 8] [Section 2] [Entire Act]

Union of India - Subsection

Section 2(g) in The Chit Funds Act, 1982

(g)“discount” means the sum of money or the quantity of grain which a prized subscriber is, under the terms of the chit agreement required to forego and which is set apart under the said agreement to meet the expenses of running the chit or for distribution among the subscribers or for both;