This document discusses chit funds in India. It defines chit funds as a type of savings scheme managed by a foreman where subscribers contribute a fixed monthly amount and one subscriber receives the total amount each month through a bidding process. The document provides details on how chit funds operate, regulations governing them, differences between chit funds and Ponzi schemes, analysis of the size and characteristics of the chit fund industry in India, and the Saradha scam - one of India's largest alleged Ponzi schemes that was run through chit funds. It concludes with safety tips for investing in chit funds and why they can be a good savings option if the fund is registered and members are known.
Customers and account holders are explained in these slides. it include varies types of bank account holders like minor account, joint account, company account, partnership account, trust account, etc.,
This presentation covers Merchant Banking History; Categories; Services provided by them; Methods of placement; underwriting; Issue management & SEBI guidelines.
Customers and account holders are explained in these slides. it include varies types of bank account holders like minor account, joint account, company account, partnership account, trust account, etc.,
This presentation covers Merchant Banking History; Categories; Services provided by them; Methods of placement; underwriting; Issue management & SEBI guidelines.
this ppt is about the financial services .whats the financial services, types of financial services,functions of financial services,importance of financial services,features of financial services,Indian financial system as well as international financial management.
this ppt is about the financial services .whats the financial services, types of financial services,functions of financial services,importance of financial services,features of financial services,Indian financial system as well as international financial management.
Nidhi company full form, nidhi chit fund company, nidhi company management, d...Ravi Pseo
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Nidhi company rules 2014 an analysis w.r.t. nidhi company registrationEquiCorp Associates
With the implementation of new rules for operations of Nidhi Company, into effect from April 01, 2014, what will be fate of the public deposit schemes? How these Rules, 2014 are going to impact the Indian Financial Sector, especially Nidhi Companies in India? Nidhi Companies are created mainly for cultivating the habit of thrift and savings amongst its members. The amount of business conducted by Nidhi Companies is not as big as commercial banks or deposit taking Non-Banking Finance Companies. Nidhi Companies are highly localized and mostly single office institutions. They are also referred to as mutual benefit societies, because they accept deposits and give loans to only their own members; and membership is limited to individuals.
This is the comprehensive and latest presentation on Indian Corporate Bond market. It starts with basic features, 3 Main pillars of Indian Corp bond market ecosystem & its importance. It then covers Primary Placement, Valuation/MTM as per RBI/FIMMDA norms, Valuation using excel IRR() function with example, Credit rating scales, Market timing & Reporting.
It also covers few topics like ISIN & ends with challenges and Limitation of India corp bond market.
Financial non-banking organizations are flourishing at the moment. Many of these businesses have started to provide lucrative plans. Promising investors large interest rates and having a plan in place. Chit Fund schemes are the general name for these programs. Saving and purchasing strategies are now widely available. More risks are being taken by investors as a result of it. In chit-fund scams, there are numerous legal processes to follow. Many chit-fund fraud Lawyers in Mumbai are expressing interest in taking on these cases.
Chit fund emi calculator, chit-fund karnataka, chit-fund logoSaleWebsoftex
Websoftex Software Solutions Private Limited, a Bangalore based Company, an authorized Software service provider engaged in Chit Fund Accounting,Chit Calculator, MLM Chit fund, and Development in Bangalore with maximum level protection. Websoftex is constantly evolving and our developers constantly upgrade their skills to provide our customers proper Software solutions in tune with the latest trends and technologies available. For more info: http://chitfundsoftware.in
Raising Capital: Negotiating with Potential InvestorsFinancial Poise
Every business needs capital (cash) to fund its activities. But not all capital is created equal. At the most macro level, a business can raise cash by selling equity or by borrowing (and these alternatives are not by any means mutually exclusive).
This webinar explains the different types of capital available to fund a startup; how to identify potential funding sources; how to evaluate competing funding proposals; and how (and when) to negotiate financing terms. In addition, this webinar will address the kinds of investors for entrepreneurs to consider for their start-ups.
Part of the webinar series: The Start-Up/Small Business Advisor 2022
See more at https://www.financialpoise.com/webinars/
In a Ponzi scheme, a con artist offers investments that promise very high returns with little or no risk to their victims. The returns are said to originate from a business or a secret idea run by the con artist. In reality, the business does not exist or the idea does not work in the way it is described.
A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. A Ponzi scheme is a fraudulent investing scam which generates returns for earlier investors with money taken from later investors. This is similar to a pyramid scheme in that both are based on using new investors' funds to pay the earlier backers.
Raising Capital: Negotiating with Potential Investors (Series: The Start-Up/S...Financial Poise
Every business needs capital (cash) to fund its activities. But not all capital is created equal. At the most macro level, a business can raise cash by selling equity or by borrowing (and these alternatives are not by any means mutually exclusive).
This webinar explains the different types of capital available to fund a startup; how to identify potential funding sources; how to evaluate competing funding proposals; and how (and when) to negotiate financing terms. In addition, this webinar will address the kinds of investors for entrepreneurs to consider for their start-ups.
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/raising-capital-negotiating-with-potential-investors-2021/
On October 30, 2015, the Securities and Exchange Commission (SEC) issued the final rules related to crowdfunding for select companies. The rules fulfill Title III of the Jumpstart Our Business Startups (JOBS) Act, which was signed into law in 2012.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
2. What are chit funds ?
• A chit fund company is a company that manages, conducts, or supervises such a
chit fund, as defined in Section of the Chit Funds Act, 1982. According to Section
2(b) of the Chit Fund Act, 1982:
• Chit funds operate in different ways, and this may lead to many fraudulent tactics
practised by private firms. The basic necessity of conducting a 'Chitty' is a group
needy people called subscribers. The foreman — the company or person conducting
the chitty — brings these people together and conducts the chitty. The foreman is
also responsible for collecting the money from subscribers, presiding over the
auctions, and keeping subscriber records. He is compensated by a fixed amount
(generally 5% of gross chitty amount) monthly for his efforts. Other than that, the
foreman has no specific privileges, she is just a chitty subscriber. A simple formula
depicts the pattern of the chitty:
• Monthly Premium × Duration in Months = Gross Amount
• The chit funds are mainly governed by The Chit Funds Act, 1982
3. Mechanism of chit fund
• E.g., 1000 * 50 = 50,000/- Where 1000 is the maximum monthly contribution needed from a
subscriber, 50 is the duration of the chitty in months and 50,000 is the maximum sum
assured. The duration also equals the number of subscribers, as there must be (not more or
less) one subscriber to receive the prize money every month.
• The chitty starts on an announced date, every subscriber come together for the auction/lot.
As per Kerala chit act, the minimum prize money of an auction is limited to 70% of the gross
sum assured that is 35,000 in the above example. When there are more than one person
willing to take this minimum sum, lots are conducted and the 'Lucky subscriber' gets the prize
money for the month. If there is no person willing to take the minimum sum, then a reverse
auction is conducted where subscribers open-bid for lower amounts; that is from 50,000 >>
49,000 >> 48,000, and so on. The person bidding the lowest sum will get the bid amount.
• In both the cases the auction discount, that is the difference between the gross sum and
auction amount, is equally distributed among subscribers or is deducted from their monthly
premium. For example, if the auction is settled on a sum of 40,000, then the auction discount
of 10,000 (50,000 - 40,000) is divided by 50 (the total number of subscribers) and every one
gets a discount of 200. The same practice is repeated every month and every subscriber gets
a chance of receiving some money.
4. Objective of the study
• To study various economical and geographical
statistics of the chit fund industry and hence
inferring about the basic structures of the
industry as a whole
• To carry out the financial statement analysis of
the major chit fund companies
5. Data Analysis and findings
• Study of the chit fund industry
i. To study the size of the registered chit fund industry
ii. To study the characteristics and the financial needs of the
chit participants
• Financial Statement Analysis of the
representative companies of the four states
i. Preparation of comparative financial statements of
individual companies with respect to previous years
ii. Preparation of comparative financial statements comparing
the representatives companies
6. Difference between a chit fund and
Ponzi Scheme
• A Ponzi scheme is a fraudulent investment operation where the operator, an
individual or organization, pays returns to its investors from new capital paid to the
operators by new investors, rather than from profit earned through legitimate
sources. Operators of Ponzi schemes usually entice new investors by offering
higher returns than other investments, in the form of short-term returns that are
either abnormally high or unusually consistent.
• Ponzi schemes occasionally begin as legitimate businesses, until the business fails
to achieve the returns expected. The business becomes a Ponzi scheme if it then
continues under fraudulent terms. Whatever the initial situation, the perpetuation
of the high returns requires an ever-increasing flow of money from new investors
to sustain the scheme.
• A chit fund company is the one which manages, conducts or supervises, as
foremen, agent or in any other capacity, chits as defined in Section 2 of the Chit
Funds Act, 1982. Such schemes can be conducted by organised financial
institutions or may be unorganised schemes between friends and/or relatives.
Chit Funds can be misused by its promoters and there are many several instances
of people sunning such Ponzi schemes and then absconding with investor’s money.
7. Saradha Scam
The group collected around ₹200 to 300 billion from over 1.7 million
depositors
The paid huge incentives to the agents. Incentives as high as 40% of the
total money collected from villagers. This helped in establishing a rapid
network of investors, agents and word of mouth beneficiaries.
This continued well into the late 2008.
In April, 2013, Mamata announced a Rs 500 crore relief fund to
compensate the Saradha fraud victims.
With each passing day, investigators dig deeper into the Saradha scam and
new revelations send shock waves across Bengal.
But neither the state government nor the Opposition parties can offer any
hope to about 17 lakh investors who invested in Sudipta Sen’s company.
The four companies of Saradha Group were by the names: Saradha Realty
India Ltd, Saradha Housing Pvt Ltd, SaradhaGarden Resort and Hotels Pvt
Ltd and Saradha Tours and Travels Pvt Ltd. The West Bengal police have
received a total of 560 complaints regarding the fraudulent companies.
8. Few safety measures before investing in a chit
fund.
Like any schemes, chit funds have its positive and negative features. So before you
take a call on putting your money in a chit fund, there are few things you need to
know.
Registered firms: It is mandatory that companies offering chit fund investment
schemes must be registered with the respective state governments. But, there are
many small unregistered companies, who may advertise heavily or are operated by
a known contact, who would aim to gain your confidence through their length of
association. Look beyond these factors to objectively assess the company or
scheme.
No fixed returns: They don't offer fixed returns like other deposit schemes. The
returns of a chit fund depend on the reverse auctions taking place each month. If
you are an investor looking for assured returns, it may be prudent to avoid chit
fund investments.
Liquidity issues: You cannot liquidate your investment until the chit fund completes
its cycle or unless you win a successful reverse auction. Many investors believe
that chit funds are useful to raise funds in an emergency, but to get money when
you wish you will have to lower your reverse auction bid, thereby reducing your
financial corpus.
9. NRI participation: The RBI has recently allowed NRIs to invest in regulated chit funds.
All NRIs can now invest in chit funds, provided the investment is done through a regular
banking channel and accounts managed in India.
There is no upper limit on the amount of investment an NRI can make in chit funds.
Possible manipulations: Chances are finite that fraudsters may join chit fund schemes
to bid and usurp the money they get in advance; thereafter, they may discontinue
further payments. Members who are in financial crunch may also drop out, as it
happens in the case of loan defaults. Such drop outs affect the scheme as a whole,
sometimes to the extent that the company finds it difficult to even complete the
scheme's cycle. All these would affect the investments of members.
The fine print: Investors need to be extra careful while joining a chit fund. They should
check the whereabouts and backgrounds of the promoters and go through every
aspect of the fine print before participating in the scheme.
Bidding rules: There are chances that some desperate members may drive the auctions
to very low levels. But chit funds regulated by the government have been mandated to
ensure that bids cannot be lesser than 70 per cent of the chit value. The maximum
commission a foreman can charge per bidding is five per cent, under the Chit Funds Act
1982. Private chit funds are also expected to follow this.
10. Why are chit funds a good investment option ?
• This question can be answered from two angles – from safety viewpoint and
investment viewpoint. In India, there are both large chit fund companies like
Shriram Chits and Margadasi Chit Funds as well as several small unregistered
ones. Registered funds are regulated and governed by law; but unregistered
chit funds are not bound by any regulations. When fraudulent chit funds
closed shop, several investors lost their hard earned money. It is therefore not
advisable to invest in such unregistered chit funds. Further, it is not advisable
to invest in chit funds where the other members are unknown to you. Thus,
the key to investing in chit funds is in choosing the right one.
• However, from an investment viewpoint, a chit fund does not promise returns
for an investor. It is not possible to calculate exact returns from a chit fund as
this depends on the level of emergency of members for funds, and this is a
highly variable factor. That said, a chit fund is a good saving instrument for
small investors and brings about a discipline in saving regularly. It is also useful
in getting funds when in an emergency. As chit funds are essentially not
investment products, you must consider investing in them only if you foresee a
need for funds in the near future, which you may not be able to get from your
bank, and thus start saving towards this need in a chit fund.