New Millennium Kuries was started on 1st January 2000 at Thrissur. It had conducted 8 Pooval Kuries, 49 monthly Kuries and 10 Saphalyam Kuries which have 182 month duration. New Millennium Kuries has got 60235 number of subscribers during the 12 years of successful period where in it had conducted Kuries. The Kuries conducted by New Millennium Kuries was a landmark in the Kuri field.
Indian Chit Fund Act 1982 was implemented in Kerala by the Central Government from 01.05.2012. From that date onwards the kuries has to be started within that law. The Kerala Chitties Act 1975 was also repealed, hence the Kerala Government after some years made rules to start new Kuries. It took some time for the formulation of the rules. Thus, a lot of companies including New Millennium Kuries had stopped starting new kuries..
As per the new law the Kuri Company shall not have other business except chitty business. For starting new Kuries 10% of Sala amount has to be deposited in bank approved by the Government. New Kuries are controlled and audited by the Registration Department in Kerala. If a subscriber has not paid the Kuri amount after the due period it shall be deposited in the treasury. These are the main conditions imposed by the new Act.
New Millennium Kuries decided to start new Kuries after the formation of Neuvo Millennium Chits Fund Pvt. Ltd., it started the first Kuri in September 2018 and eight other Kuries are started till 17th August 2019. Now the company is doing a successful business in the Kuri field and new Kuries are going to be started very soon.