An arrangement in which a person enters into an agreement with a specified number of persons that every one of them shall subscribe a certain sum of money by way of periodical installments over a definite period and that each such subscriber shall, in his turn be entitled to the prize amount is called?

Related MCQs

• Microfinance programmes were first created by Nobel prize winning Economist Muhummad Yunus in what decade?
• The promoter’s minimum initial contribution to the paid-up equity capital of such small finance bank shall at least be 40 per cent and gradually brought down to ____ per cent within 12 years.
• In …………………..type of payment system customer is allowed to spend only up to the amount that have pre deposited into account.
• Loans to poor people by banks have many limitations including lack of security and high operating cost. So to help them which type of finance system developed ?
• Loans to poor people by banks have many limitations including lack of security and high operating cost. So to help them which type of finance system developed ?
• A CRM system is a better way to manage the _______ interactions and relationships that drive success.
• Which of the following is not the part of organized sector of Indian Money Market?
• A small loan amount given to low-income households or groups is known as ________ .
• What is the maximum amount of loan can be extended by payments banks?
• In the Open System PPIs, the outstanding amount should not exceed______________ at any point.