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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]
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.
With the results, the BJP was able to gain 21 seats in the House, having won 282 in the 2014 Indian general election. [7] [8] It was the second time in India's independent history that voters re-elected the same party to power with a bigger majority to the Lok Sabha – India's lower house of parliament.
The market share of India's top five IT firms fell 17 basis points in 2023, reflecting the inroads made by the mid-tier IT firms, according to BNP Paribas data shared exclusively with Reuters.
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 ...
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.
Millennials may not have it so bad after all. Indeed, the average wealth of households under 40 grew by 49% between 2019 and 2023, according to a new report from Center for American Progress (CAP ...
The votes will be counted and the results will be declared on 4 June 2024. This is the largest-ever election in history, surpassing the previous election , and lasts 44 days, second only to the 1951–52 Indian general election .