Dhan India App

Basically an app that helps create communities and connect them economically.

In this app we are trying to create groups of people and connect them economically so that people do not have to go to banks and face a high interest rate.As such communities already exist our main focus through this app is to help scale such communities to bigger groups and thus more benefits for everyone and also presently such communities store their database on paper which is not safe and thus our app provides digital database through firebase database.

How the app functions(Community Level)

- A Community is created

- Members register with the community

- The App runs a cycle of a year from the time the user has joined the community

- Within 1 year people pay every month and loans are given with an interest rate and a boundation that the loan is repayed in an year.

- This interest is distributed propotionally among users according to who has given what amount of money.

- At the end of one year people get back their principal amount along with interest rates.

- A new cycle starts for that user.

How the app functions(User Level)

- User signs up on our app

- User fills details asked by us

- User presses the join room button

- A chat room is opened which connects the user and the head

- The Head checks if the user is a resident or member of the community/locality

- The user joins the community and starts paying any amount he likes to pay(which has a min limit)

- He can ask for loans if he wants to

Who is the head?

This group can be created by anyone and the person creating the group will be the head of the group. Head will be responsible for money transictions within in the group and will get benefits for its work.These benefits include getting a double interest rate on any loan like if interest was to be divided in a community of n people it would be interset/n but we divide interest by n+1 and give this n+1 th amount to head.This system creates a double benefit enviroment as the person who was having extra cash get a higher interest than the bank (normally) and the person taking the loan gets a lower interest rate than bank.

Any person in the group gets to take the loan once and app automatically make emi's for it within a year span and this app will work on a cycle of a year,means after a year there will be no money of any person in the group and every person will get their base amount and the amount of interest they had earned.

##Growth Opportnity for the App

At present we deal within a single community. So we plan at interconnecting two communities which can be like miles apart. If resolved upon issues like

trust issues
money tranfer
currency value dips and hikes.

this app could really grow further

https://drive.google.com/open?id=1BuSVbMV_b62kWf_Ch4GzvuEovZDw2W1G

https://drive.google.com/open?id=1gDDVfzbmqoZUKv14-oV1ItXyiJ1HjdfN

https://drive.google.com/open?id=1WV4zkv4oEbTC6sCar7LLACv-YLEooN2W

https://drive.google.com/open?id=1mXsFry_cL0ZmOjHbGGwOezoYYfLORMlm

https://drive.google.com/open?id=1esGHeKPm7vSHaOqrKeHsrxhQSQgFaCUd

vinmaxx99 / Dhan-India