Terms of Use

1. What Beeshi is, and what it is not

Beeshi is a record-keeping and communication application for savings circles — the arrangement known across India as a bhishi, committee, chit, chitty, kuri or kitty. Members of a group that already knows each other use Beeshi to record their contributions, agree their rules, keep a shared ledger, and talk to one another.

Beeshi records what members tell it happened. It is not a party to any arrangement between members of a circle, and it accepts no liability for any obligation between them.

Beeshi is not a chit fund company. Beeshi is not registered as a chit fund company and does not conduct, foreman, or manage chits under the Chit Funds Act, 1982. Beeshi does not operate a prize chit or money circulation scheme within the meaning of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. Where members choose to run an auction-based circle through the application, they do so between themselves.

Beeshi is not a bank, NBFC, or financial adviser. Nothing in the application constitutes financial, investment, tax or legal advice. Beeshi makes no representation about the creditworthiness, honesty or solvency of any member of any circle.

2. Eligibility

• You must be at least 18 years old to use Beeshi.
• You must be legally capable of entering into a binding contract under the Indian Contract Act, 1872.
• You must provide accurate registration information, including a phone number you control.
• You may be required to complete identity verification, including a PAN and proof of address, before using certain features.

3. Your account

You are responsible for activity on your account. Keep your credentials confidential and tell us promptly if you believe your account has been compromised. Where you enable biometric unlock, you accept that anyone whose biometrics are registered on your device may be able to open the application.

We may suspend or terminate an account that breaches these terms, that we reasonably believe is being used fraudulently, or where we are required to do so by law.

4. Circles, roles and rules

Forming a circle. Any member may create a circle and invite others. Invitations are restricted to phone numbers the administrator has listed; a person whose number is not listed cannot join by forwarding a link. Invitations expire and may be revoked. Before joining, every member is shown the circle’s terms and must accept them.

Administrators. Each circle has one or more administrators, who configure its rules, verify payments claimed by members, confirm settlements, and manage membership. A circle must retain at least one active administrator. An administrator is not an agent, employee or representative of Beeshi — they act for their circle, and Beeshi does not supervise, endorse or guarantee their conduct.

Kitty circles. Members contribute an agreed amount each round and one member receives the pooled amount, rotating until everyone has been paid once. The order is decided by lucky draw or by agreement. Contribution periods are monthly or quarterly.

Chitty circles. Members may bid a discount to receive a payout early. The lowest bid takes the pot, and the difference is recorded as the circle’s surplus. A Chitty round proceeds through a fixed, ordered sequence of states and cannot be reversed once a state has passed.

Guarantors. Before a disbursement is recorded in a Chitty circle, two guarantors must be named from within the circle and must each accept. Consents are timestamped. A guarantee recorded in Beeshi is an undertaking between members — Beeshi records that it was given, does not enforce it, is not a party to it, and accepts no liability under it.

Payments and the ledger. A member records that they have paid; the administrator verifies it. No single person can assert a payment into existence. Settlements require confirmation from both the administrator and the recipient. Ledger entries are append-only — once written, an entry is not edited or deleted, and corrections are made by recording a further entry.

Records in Beeshi are attestations by members, not verified bank records. Beeshi does not observe the underlying transfer and cannot confirm that money actually moved.

Non-payment. Beeshi issues reminders and displays each member’s exposure to their circle. Beeshi does not collect debts, does not escalate non-payment, and provides no recovery service. Any dispute about money owed is between the members concerned.

5. Cost

Beeshi is free to use. We charge no subscription, no per-member fee, and no charge for any feature. There is no paid tier.

Beeshi also takes no commission, share or percentage of any amount contributed to or paid out by a circle. Taken with clause 1, this means no money passes between you and Beeshi in either direction.

If we introduce a paid feature in future, we will give notice within the application before it takes effect, and no existing circle will lose access to a feature it already relies on without that notice.

6. Content you post

Beeshi includes chat, calls, photographs, challenges and games. You retain ownership of the content you post, and grant Beeshi a limited licence to store, transmit and display it for the purpose of operating the service.

You must not post content that is unlawful, defamatory, obscene, infringing, harassing, or that impersonates another person. The Community Guidelines form part of these terms.

7. Availability and liability

Beeshi is provided on an “as is” and “as available” basis. We do not warrant uninterrupted or error-free operation, and we may modify, suspend or discontinue features.

The limitation of liability and the governing law and dispute resolution clauses are being drafted by counsel and are deliberately not stated here. Beeshi’s intended position is that it is not liable for money not paid by a member, the accuracy of what members record, disputes between members, or the conduct of any administrator or guarantor.