Abstract
The evolution of rotating savings and credit associations has been debated by many and then forbidden for decades. But the prevalence of these associations in this day and age, when more viable formal institutions are present, suggests investigation of the concepts, or values, around which it evolved. The article explores and relives the process of evolution of a similar institution called marup (friend), practised by people in Manipur valley and attempts to posit that both the origin and evolution of marup to the present form, are associated with strong social relationship and marup still holds these solidarity-strengthening elements. Based on oral history interviews, this article arrives that marup evolved as a result of both change in social system and obligations among kin networks to assist each other.
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