Fi Section L Finance

NIC 2025 MoSPI source

NIC 649505 - Activities of Chit funds

NIC 649505 classifies activities of chit funds as a final six-digit business activity under Section L and Division 64. Use it when this activity is the main source of revenue.

Key Facts

649505 at a Glance

Code 649505

Official title Activities of Chit funds

Version NIC 2025

Source authority MoSPI

Section L - Financial and insurance activities

Division 64 - Financial service activities, except insurance and pension funding

Group 649 - Other financial service activities, except insurance and pension funding activities

Class 6495 - Other credit granting activities

Level Sub-class

Depth 5/5

Children 0

Last verified 2026-04-21

Source Verification for 649505

5 / 10

2 of 4 factors passing

Verified in official source - Found in NIC_2025.xlsx official MoSPI release dataset.
International crosswalk available - No official ISIC/NACE/CPC/ISCO correspondence table is bundled in this build input set.
Migration from previous edition - No legacy migration candidate found in the NIC 2008 converter layer for this code.
Complete hierarchy chain - All parent levels exist: Section > Division > Group > Class > Sub-class (5 levels).
Official size/threshold documented - No official code-level size or threshold dataset is included in this source bundle.
Trade or export crosswalk match - No official NIC-to-HS/export correspondence table is bundled in this source bundle.
Legacy national crosswalk - No linked NIC 2008 legacy code is available for this record in the current converter layer.

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Practical Summary

What Activities of Chit funds Means Under NIC 2025

NIC 649505 is the final six-digit endpoint for Activities of Chit funds. It should be selected only when the enterprise's primary business activity matches this title more closely than 649501 Activities of granting of consumer credit (primarily unsecured), 649502 Provision of long-term finance to industry by entities other than by All Scheduled Commercial Banks (ASCB), 649503 Credit granting by specialized non-depository institutions for purchse of assets like house, vehicles etc..

How To Choose

When to Choose 649505 Over Nearby Codes

Choose 649505 only when operations, invoices and revenue narrative align with Activities of Chit funds. If the activity also includes 649501 Activities of granting of consumer credit (primarily unsecured), 649502 Provision of long-term finance to industry by entities other than by All Scheduled Commercial Banks (ASCB), 649503 Credit granting by specialized non-depository institutions for purchse of assets like house, vehicles etc., compare those pages before filing.

In this section

649501

Activities of granting of consumer credit (primarily unsecured)

649502

Provision of long-term finance to industry by entities other than by All Scheduled Commercial Banks (ASCB)

649503

Credit granting by specialized non-depository institutions for purchse of assets like house, vehicles etc.

649504

Activities of pawnbrokers/ money lenders

649505

Activities of Chit funds

649599

Other credit granting activities n.e.c. including Short-term financing for corporate mergers and takeovers

← 649504 649599 →

Common Questions About NIC 649505

Does NIC 649505 cover regulated professional or financial work?

Use the code that matches the service actually provided. Financial intermediation, insurance, real estate, legal, accounting, consulting, engineering, advertising and R&D are separated into different professional service families.

Can an advisory firm use NIC 649505 if it serves another industry?

Usually the firm's own service determines the NIC code, not the client's industry. For example, a consultant serving manufacturers is still a consulting or professional service business if advice is the revenue activity.

How do I verify that NIC 649505 is correct before filing?

Check the parent hierarchy, compare 649501 Activities of granting of consumer credit (primarily unsecured), 649502 Provision of long-term finance to industry by entities other than by All Scheduled Commercial Banks (ASCB), 649503 Credit granting by specialized non-depository institutions for purchse of assets like house, vehicles etc., and confirm that the official title matches the main revenue activity. For regulated or filing-critical decisions, verify the source row in the MoSPI dataset.

What happens if I use the wrong NIC code in Udyam or MCA registration?

A wrong code can cause mismatched business descriptions, follow-up questions or later compliance cleanup. It is better to compare nearby codes before filing than to correct a weak classification later.

Is there a legacy NIC 2008 equivalent for NIC 649505?

Use the legacy converter only as a migration aid. Old NIC 2008 matches can suggest where to look, but NIC 2025 should remain the primary reference for new code selection.

NIC 2026 guidance

Before you select NIC 649505

NIC 649505 should be selected only when the official title matches the main revenue-generating activity. If the business also trades, transports, processes, installs or supports the same product or service, compare nearby NIC pages before filing. This reduces the risk of choosing a code that describes the product being handled rather than the activity your enterprise actually performs.

Data Source and Verification Date

Source layer

Official NIC 2025 Excel and PDF from MoSPI.

Last verified

2026-04-21 from the generated NIC 2025 source layer used in this build.

Disclaimer

This is an independent reference tool. Verify filing-critical decisions in official sources.