Sree Gokulam Chit & Finance The Chit and finance business started in a modest way at Mylapore, Chennai on 23rd July 1968. It is unique in enforcing a ceiling of 25 percent on chit discount, even before the Chit Funds Act,1982 was enacted. Though the Act permits a discount upto 30 percent SREE GOKULAM still allows a maximum discount of 25 percent on all chits in order to protect the interests of all subscribers in general. Bank Fixed Deposit Receipts are being offered to the registrar as chit security. SREE GOKULAM Chit has become the favorite medium of savings or source of funds for more than 7,00,000 subscribers. A default less subscriber, who opts to take the chit payment on termination of the respective group, is eligible for a special incentive amounting to 1 percent of the Chit amount.