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Chit Fund
A chit fund is a type of rotating savings and credit association system practiced in India, Bangladesh, Sri Lanka, Pakistan other Asian countries. Chit fund schemes may be organized by financial institutions, or informally among friends, relatives, or neighbours. In some variations of chit funds, the savings are for a specific purpose. Chit funds are often microfinance organizations. History The chit fund is said to be an institution that has been handed down since ancient times. In 1887, William Logan, erstwhile Collector of the Malabar district of the Madras Presidency, described the custom of chit funds among friend groups in that region. In 1894, economic historian Edith Simcox mentioned that chit fund lotteries were used to raise money for special events like weddings in South India. Various reports in the 1930s point to the popularity of chit funds in current-day Kerala. In the 1930s and 1940s, between 1000 and 10,000 formal funds functioned in the state every year. Chit f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rotating Savings And Credit Association
A rotating savings and credit association (ROSCA) is a group of individuals who agree to meet for a defined period in order to save and borrow together, a form of combined peer-to-peer banking and peer-to-peer lending. The first academic description of ROSCAs was by Shirley Ardener in 1964. F. J. A. Bouman described ROSCAs as "the poor man's bank, where money is not idle for long but changes hands rapidly, satisfying both consumption and production needs." They are also known as '' tandas'' in Latin America, '' chama'' in Swahili-speaking East Africa, ''kameti'' (کمیٹی) in Pakistan, ''visi'' among Gujaratis in India, ''ekub'' in Ethiopia, ''partnerhand'' in the West Indies, ''cundinas'' in Mexico, ''hagbad'' in Somalia, ''stokvel'' in South Africa, '' susu'' in West Africa and the Caribbean, ''hui'' () in Chinese communities in East and Southeast Asia, ''hội''/''hụi'' in Vietnam, ''paluwagan'' in the Philippines, '' gam'eya'' (جمعية) in Egypt, ''gye'' () in South Kore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tamil Nadu
Tamil Nadu (; , TN) is a States and union territories of India, state in southern India. It is the List of states and union territories of India by area, tenth largest Indian state by area and the List of states and union territories of India by population, sixth largest by population. Its capital and largest city is Chennai. Tamil Nadu is the home of the Tamil people, whose Tamil language—one of the longest surviving Classical languages of India, classical languages in the world—is widely spoken in the state and serves as its official language. The state lies in the southernmost part of the Indian peninsula, and is bordered by the Indian union territory of Puducherry (union territory), Puducherry and the states of Kerala, Karnataka, and Andhra Pradesh, as well as an international maritime border with Sri Lanka. It is bounded by the Western Ghats in the west, the Eastern Ghats in the north, the Bay of Bengal in the east, the Gulf of Mannar and Palk Strait to the south-eas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rotating Savings And Credit Association
A rotating savings and credit association (ROSCA) is a group of individuals who agree to meet for a defined period in order to save and borrow together, a form of combined peer-to-peer banking and peer-to-peer lending. The first academic description of ROSCAs was by Shirley Ardener in 1964. F. J. A. Bouman described ROSCAs as "the poor man's bank, where money is not idle for long but changes hands rapidly, satisfying both consumption and production needs." They are also known as '' tandas'' in Latin America, '' chama'' in Swahili-speaking East Africa, ''kameti'' (کمیٹی) in Pakistan, ''visi'' among Gujaratis in India, ''ekub'' in Ethiopia, ''partnerhand'' in the West Indies, ''cundinas'' in Mexico, ''hagbad'' in Somalia, ''stokvel'' in South Africa, '' susu'' in West Africa and the Caribbean, ''hui'' () in Chinese communities in East and Southeast Asia, ''hội''/''hụi'' in Vietnam, ''paluwagan'' in the Philippines, '' gam'eya'' (جمعية) in Egypt, ''gye'' () in South Kore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deepavali
Diwali (), Dewali, Divali, or Deepavali (IAST: ''dīpāvalī''), also known as the Festival of Lights, related to Jain Diwali, Bandi Chhor Divas, Tihar, Swanti, Sohrai, and Bandna, is a religious celebration in Indian religions. It is one of the most important festivals within Hinduism where it generally lasts five days (or six in some regions of India), and is celebrated during the Hindu lunisolar months of Ashvin (according to the amanta tradition) and Kartika (between mid-October and mid-November).''The New Oxford Dictionary of English'' (1998) – p. 540 "Diwali /dɪwɑːli/ (also Diwali) noun a Hindu festival with lights...". It is a post-harvest festival celebrating the bounty following the arrival of the monsoon in the subcontinent. Diwali symbolises the spiritual "victory of light over darkness, good over evil, and knowledge over ignorance".Jean Mead, ''How and why Do Hindus Celebrate Divali?'', The festival is widely associated with Lakshmi,Suzanne Barchers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maharashtra
Maharashtra (; , abbr. MH or Maha) is a states and union territories of India, state in the western India, western peninsular region of India occupying a substantial portion of the Deccan Plateau. Maharashtra is the List of states and union territories of India by population, second-most populous state in India and the second-most populous country subdivision globally. It was formed on 1 May 1960 by splitting the bilingual Bombay State, which had existed since 1956, into majority Marathi language, Marathi-speaking Maharashtra and Gujarati language, Gujarati-speaking Gujarat. Maharashtra is home to the Marathi people, the predominant ethno-linguistic group, who speak the Marathi language, Marathi language, the official language of the state. The state is divided into 6 Divisions of Maharashtra, divisions and 36 List of districts of Maharashtra, districts, with the state capital being Mumbai, the List of million-plus urban agglomerations in India, most populous urban area in India ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Delhi
New Delhi (, , ''Naī Dillī'') is the capital of India and a part of the National Capital Territory of Delhi (NCT). New Delhi is the seat of all three branches of the government of India, hosting the Rashtrapati Bhavan, Parliament House, and the Supreme Court of India. New Delhi is a municipality within the NCT, administered by the NDMC, which covers mostly Lutyens' Delhi and a few adjacent areas. The municipal area is part of a larger administrative district, the New Delhi district. Although colloquially ''Delhi'' and ''New Delhi'' are used interchangeably to refer to the National Capital Territory of Delhi, both are distinct entities, with both the municipality and the New Delhi district forming a relatively small part of the megacity of Delhi. The National Capital Region is a much larger entity comprising the entire NCT along with adjoining districts in neighbouring states, including Ghaziabad, Noida, Gurgaon and Faridabad. The foundation stone of New Delhi was l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jammu And Kashmir (union Territory)
Jammu and Kashmir is a region administered by India as a union territory and consists of the southern portion of the larger Kashmir region, which has been the subject of a dispute between India and Pakistan since 1947, and between India and China since 1962.(a) (subscription required) Quote: "Kashmir, region of the northwestern Indian subcontinent ... has been the subject of dispute between India and Pakistan since the partition of the Indian subcontinent in 1947. The northern and western portions are administered by Pakistan and comprise three areas: Azad Kashmir, Gilgit, and Baltistan, the last two being part of a territory called the Northern Areas. Administered by India are the southern and southeastern portions, which constitute the state of Jammu and Kashmir but are slated to be split into two union territories. China became active in the eastern area of Kashmir in the 1950s and has controlled the northeastern part of Ladakh (the easternmost portion of the region) sinc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chit Fund Act, 1982 ''
{{disambiguation ...
Chit may refer to: *Chit (board wargames), a type of wargame counter *Chit (name) *Chit, a voucher or certificate with monetary value *Blood chit, document requesting safe passage and assistance for military personnel stranded in enemy territory *Chit fund, a savings scheme practiced in India *Chitting, a method of preparing potatoes for planting *Cit (consciousness), concept found in Indian religions See also *''Chitty Chitty Bang Bang ''Chitty Chitty Bang Bang'' is a 1968 musical-fantasy film directed by Ken Hughes with a screenplay co-written by Roald Dahl and Hughes, loosely based on Ian Fleming's novel '' Chitty-Chitty-Bang-Bang: The Magical Car'' (1964). The film stars ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sole Business
Sole may refer to: * Sole (foot), the bottom of the foot * Sole (shoe), the bottom supporting member of the shoe Business * Sole proprietorship, a business which legally has no separate existence from its owner * Corporation sole, in English law, a legal entity consisting of a single person ("sole") * Sole Technology, an American footwear company specializing in skateboarding shoes Fish * Sole (fish), one of several species and groups of flatfishes: * Soleidae, the family of the "true soles" ** ''Solea solea'', the common or Dover sole, used in European cooking * American sole, the family Achiridae * Tonguefish, or tongue sole, in the family Cynoglossidae * Several species of righteye flounder in the family Pleuronectidae: ** Lemon sole ** ''Microstomus pacificus'' (Pacific Dover sole) People * Solé (surname), a French and Spanish surname * Sole (hip hop artist) (born 1977), hip-hop emcee and co-founder of the Anticon record label * Solé (born 1973), American rapper and form ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Middle Class
The middle class refers to a class of people in the middle of a social hierarchy, often defined by occupation, income, education, or social status. The term has historically been associated with modernity, capitalism and political debate. Common definitions for the middle class range from the middle fifth of individuals on a nation's income ladder, to everyone but the poorest and wealthiest 20%. Theories like "Paradox of Interest" use decile groups and wealth distribution data to determine the size and wealth share of the middle class. From a Marxist standpoint, middle class initially referred to the 'bourgeoisie,' as distinct from nobility. With the development of capitalist societies and further inclusion of the bourgeoisie into the ruling class, middle class has been more closely identified by Marxist scholars with the term 'petite bourgeoisie.' There has been significant global middle-class growth over time. In February 2009, ''The Economist'' asserted that over half of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rural
In general, a rural area or a countryside is a geographic area that is located outside towns and cities. Typical rural areas have a low population density and small settlements. Agricultural areas and areas with forestry typically are described as rural. Different countries have varying definitions of ''rural'' for statistical and administrative purposes. In rural areas, because of their unique economic and social dynamics, and relationship to land-based industry such as agriculture, forestry and resource extraction, the economics are very different from cities and can be subject to boom and bust cycles and vulnerability to extreme weather or natural disasters, such as droughts. These dynamics alongside larger economic forces encouraging to urbanization have led to significant demographic declines, called rural flight, where economic incentives encourage younger populations to go to cities for education and access to jobs, leaving older, less educated and less wealthy populat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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