Rotating Savings and Credit Association (ROSCA) was introduced by Shirley Ardener in the year ________.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 1964.
The concept of Rotating Savings and Credit Association (ROSCA) was introduced by Shirley Ardener in the year 1964. Ardener, a British anthropologist, studied the informal financial systems used by various communities, particularly focusing on how these groups manage savings and credit. ROSCAs are informal associations where members contribute to a common fund, which is then given to one member at a time, often on a rotating basis. This system is popular in many cultures and offers a form of mutual financial support.