E.Angadia
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Function:Noun

1 The word ‘Angadia’ means courier (in Hindi) but also used for people who act as ‘Hawaladars’ (Ref: hawala) within the country. These people mostly act as a parallel banking system within the country. They charge very low percentage per transaction for transferring money from one city to another. It is a local version of ‘Hawala’ and also works on Performance and Trust.
In the world of e-commerce, a new culture of Angadia can be created parallel to the ‘Credit Card Culture’ (within a country like India) where the transactions are made electronically but the accounts are settled by the E-Angadia.

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