It's the way numbers are written in India. 1,00,000 ( = 100,000 ) is 1 lakh and 1,00,00,000 ( = 10,000,000 ) is 1 crore. Millions and billions are not used a lot, but most people know what they are. See http://en.wikipedia.org/wiki/South_Asian_numbering_system

To add to what others have said, the Indian number system is used outside of India in a few other Asian countries too.

Indian number system.

3,28,268 = 3 lakhs 28 thousand and 268

1,84,321 = 1 lakh 84 thousand and 321

yes, in simple

1 Lakh = 100 Thousand 1 Crore = 10 Million

They fall in between the million-billion range.

1--> billion 0--> 10 crore/100 million 0--> crore 0--> million 0--> lakh 0--> ten thousand 0--> thousand 0--> hundred 0--> tens 0--> ones

The modern decimal numbering system was invented in India. Without it we'd be using Roman numerals. What we call "Arabic numerals" is called "Indian numerals" in Arabic countries because that's where the Arabs got it from!