In the Indian subcontinent, a unit of 105 (100,000), often used in citing sums of money. For example, twenty lakh Indian rupees = IRS 2 million. A hundred lakh make one crore (107 or 10,000,000). Separators are often used to indicate the number of lakh rather than the number of millions, so that e.g. 4.5 million (45 lakh) is written 45,00,000.
Subjects: Financial Institutions and Services — Accounting.