AP launches ‘e-Chits’ app to Regulate Funds through Online Transactions

Current Context: E-Chits app launched by the Andhra Pradesh government the app is aimed at financially protecting chit fund companies’ subscribers amid alleged scams and regulating and ushering in transparency in the sector.

• The app will enable the registration department officials to verify subscribers and only then give approval.
• The app will also allow the subscribers to verify whether a chit run by a company is registered with the authorities or not, and to file an online complaint in case of any problem.
• The app was developed by the Registration and Stamps Department and launched by the Revenue Minister Dharmana Prasada Rao on Monday. The app can be accessed from https://echits.rs.ap.gov.in.

Question:

Q.1 What is the name of the app launched by the Andhra Pradesh government to regulate chit funds?
a. e-Money
b. e-Funds
c. e-Chits
d. e-Savings