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The first state-run chit fund, Kerala State Financial Enterprises, was established in 1969 by the Kerala government. Its explicit purpose was to provide an alternative to unscrupulous private-sector chit fund organizers. In 2000, it had 77% of the capital volume of the chit fund business in Kerala, though just 37.5% of the number of chit funds.
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. [4]
Collective trust fund. Collective trust funds or Collective Investment Trusts (CITs) are a legal trust administered by a bank or trust company that combines assets for multiple investors who meet specific requirements set forth in the fund’s declaration of trust. [1] Typically, a collective trust pools assets from corporate and governmental ...
Political funding in India is a major concern under need for electoral reforms in India. The financing of the world's most extensive electoral process remains a perplexing issue, as the involvement of businesses in supporting both disclosed and undisclosed expenditures during elections has been a matter of public knowledge for a considerable period.
So mutual funds are quite a bit more expensive than ETFs, comparing their respective averages. For example, in 2022 an average mutual fund (asset-weighted) would cost 0.44 percent of your assets ...
CIT Group (CIT), a subsidiary of First Citizens BancShares, is an American financial services company. It provides financing, including factoring , cash management , treasury management , mortgage loans , Small Business Administration loans, leasing, and advisory services principally to individuals, middle-market companies and small businesses ...
May 17, 2024 at 1:03 AM. By Aditya Kalra and Arpan Chaturvedi. NEW DELHI (Reuters) - With new photographic and video evidence, an Indian court battle over the origins of the world famous butter ...
The prime minister ranks third in the order of precedence . Top left: Jawaharlal Nehru was the first and the longest-serving prime minister in Indian history. Top center: Indira Gandhi was the first and only woman to serve as prime minister. Top right: Morarji Desai was the first non- Congress prime minister.