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@lukechester My bad, first time I do deep research and find out that it was also regulated by the state gov. But due to the scam around I had the notion that it is fraud. By the way thank you, I learned something new.

@simanjuntak All of them are different. MF and equity are regulated by the government, so there is very little chance of fraud. If something happens you can complain in SEBI and ensure that you will get proper resolution. Chitfund is actually cheat fund, not regulated by government and no...