4 ms·
A similar system exists in the south Indian state of Kerala (and apparently across other places in South Asia, but I am only familiar with the Kerala model). It
by govg 4y ago
A similar system exists in the south Indian state of Kerala (and apparently across other places in South Asia, but I am only familiar with the Kerala model). It's called a Chit fund [0] and functions just like you describe.
[0] - https://en.wikipedia.org/wiki/Chit_fund https://en.wikipedia.org/wiki/Chit_fund
- mrtksn 4y agoFun to see similar informal mechanisms popping up around the world with no connection.