Rule 424(b)(3)
                                 Registration Statement No. 333-63793
                                 Cusip # 12560PBE0

PRICING SUPPLEMENT NO. 16,
Dated March 23, 1999, to  
Prospectus,  dated  September 24, 1998 and  
Prospectus Supplement, dated September 25, 1998.

                              THE CIT GROUP, INC.
                         MEDIUM-TERM FIXED RATE NOTES
                  DUE NINE MONTHS OR MORE FROM DATE OF ISSUE


(X) Senior Note               (   ) Senior Subordinated Note

Principal Amount:  U.S. $300,000,000.

Proceeds to Corporation:  99.815% or $299,445,000.

Underwriting Discount:  .082%

Issue Price:  99.897% or $299,691,000.

Original Issue Date:  March 26, 1999.

Maturity Date:  March 26, 2002.

Interest Rate Per Annum:  5.800%.

Interest Payment Dates: Semi-annually each March 26 and September 26, commencing
      September  26, 1999,  provided that if any such day is not a Business Day,
      the payment will be made on the next succeeding Business Day as if it were
      made on the date such payment was due, and no interest  will accrue on the
      amount payable for the period from and after such Interest Payment Date or
      the Maturity Date, as the case may be.

      Interest  payments  will  include the amount of interest  accrued from and
      including the most recent Interest Payment Date to which interest has been
      paid (or from and including the Original  Issue Date) to but excluding the
      applicable Interest Payment Date.

The Notes are  offered by the  Underwriters,  as  specified  herein,  subject to
receipt and acceptance by them and subject to their right to reject any order in
whole or in part.  It is expected  that the Notes will be ready for  delivery in
book-entry form on or about March 26, 1999.

                              SALOMON SMITH BARNEY
                               MERRILL LYNCH & CO.
                                 LEHMAN BROTHERS
                           FIRST UNION CAPITAL MARKETS




Form:  Global Note.

Specified Currency:  U.S. Dollars.

Trustee, Registrar, Authenticating and Paying Agent:
       The First National Bank of Chicago, under the Indenture dated as of
       September  24, 1998  between the  Trustee  and The CIT Group,  Inc.(the
       "Corporation").

                                 UNDERWRITING

      Salomon Smith Barney Inc., Merrill Lynch, Pierce, Fenner & Smith 
      Incorporated, Lehman Brothers Inc., and First Union Capital Markets Corp.
      (the "Underwriters") are acting as principals in this transaction.

      Subject  to the  terms  and  conditions  set  forth  in a Term  Sheet  and
      Agreement  dated  March 23,  1999 (the  "Terms  Agreement"),  between  the
      Corporation  and the  Underwriters,  incorporating  the terms of a Selling
      Agency  Agreement  dated May 15, 1996,  between the Corporation and Lehman
      Brothers,  Lehman Brothers Inc.,  Credit Suisse First Boston  Corporation,
      Goldman, Sachs & Co., Merrill Lynch & Co., Merrill Lynch, Pierce, Fenner &
      Smith  Incorporated,  Morgan  Stanley & Co.  Incorporated,  Salomon  Smith
      Barney Inc.  (formerly known as Salomon  Brothers Inc), and Warburg Dillon
      Read LLC (formerly  known as UBS  Securities  LLC),  the  Corporation  has
      agreed  to  sell  to the  Underwriters,  and the  Underwriters  have  each
      severally  agreed to purchase the principal  amount of the Notes set forth
      below opposite their names.


      Underwriter                                          Principal Amount

      Salomon Smith Barney Inc.                                $123,000,000
      Merrill Lynch, Pierce, Fenner & Smith                     $97,500,000
      Incorporated
      Lehman Brothers Inc.                                      $54,500,000
      First Union Capital Markets Corp.                         $25,000,000

      Total                                                    $300,000,000


      Under the terms and conditions of the Terms  Agreement,  the  Underwriters
      are committed to take and pay for all of the Notes, if any are taken.

      The  Underwriters  have  advised  the  Corporation  that they  propose  to
      initially  offer  the Notes to the  public  at the  Issue  Price set forth
      above.  After the initial public  offering,  the public offering price and
      other terms may be changed from time to time. In connection  with the sale
      of the Notes, the Underwriters may be deemed to have received compensation
      from  the  Corporation  in the  form of  underwriting  discounts,  and the
      Underwriters may also receive commissions from the purchasers of the Notes
      for whom they may act as agent.  The  Underwriters  and any  dealers  that
      participate  with the Underwriters in the distribution of the Notes may be



      deemed to be  underwriters,  and any discounts or commissions  received by
      them and any profit on the resale of the Notes by them may be deemed to be
      underwriting discounts or commissions.

      The  Notes  are a new  issue of  securities  with no  established  trading
      market.  The  Corporation  currently has no intention to list the Notes on
      any  securities  exchange.   The  Corporation  has  been  advised  by  the
      Underwriters  that  they  intend to make a market in the Notes but are not
      obligated  to do so and may  discontinue  any  market  making  at any time
      without  notice.  No  assurance  can be given as to the  liquidity  of the
      trading market for the Notes.

      The Corporation has agreed to indemnify the  Underwriters  against certain
      liabilities,  including  liabilities  under the Securities Act of 1933, as
      amended.