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A chit fund is a type of rotating savings and credit association system practiced in India, Bangladesh, Sri Lanka, Pakistan and 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.
Saradha Group financial scandal. The Saradha Group financial scandal was a major political scandal caused by the collapse of a Ponzi scheme run by Saradha Group, a consortium of over 200 private companies that was believed to be running collective investment schemes popularly but incorrectly referred to as chit funds [1] [2] [3] in Eastern India.
Mutual fund statistics. The total Assets Under Management (AUM) of the Indian mutual fund industry as of December 31, 2023, stood at a staggering ₹ 50.78 trillion (US$640 billion). This is a significant milestone, marking over a six-fold increase compared to the ₹ 8.26 trillion (US$100 billion) recorded in December 2013. [2]
UTI Mutual Fund Company [ edit] UTI Mutual Fund is the oldest mutual fund companies in India founded by the Government of India in 1963 with over 22 million investor accounts under its 230 domestic schemes as of September 2023. UTI Mutual Fund has a nationwide distribution network, which is spread across the length and breadth of the country.
Vikram Pandit. Vikram Pandit at the World Economic Forum in 2011. Vikram Shankar Pandit (born 14 January 1957) is an Indian-American banker [5] and investor who was the chief executive officer of Citigroup from December 2007 [6] to 16 October 2012 [7] [8] and is the current chairman and chief executive officer of The Orogen Group.
Total assets. ₹ 39,000 crore (US$4.9 billion) Website. niifindia .in. National Investment and Infrastructure Fund Limited ( NIIFL) is an Indian Government-backed company which maintains infrastructure investments funds for international and Indian investors anchored by the Government of India. The objective behind creating this organisation ...
382426. Area code. 091. Website. www .giftgujarat .in. Gujarat International Finance Tec-City, also called GIFT City, is a central business district under construction in the Ahmedabad district in Gujarat, India. It is India's first operational greenfield smart city and international financial services centre, which the Government of Gujarat ...
Art Fund (formerly the National Art Collections Fund) is an independent membership-based British charity, which raises funds to aid the acquisition of artworks for the nation. It gives grants and acts as a channel for many gifts and bequests, as well as lobbying on behalf of museums and galleries and their users.
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