According to Wikipedia Karma usually refers to the concept of destiny (loosely speaking) in Indian religions.
I've often said, 'Karma's a bitch'. or told someone, 'that's gonna bite you in the ass'. Most often referring to the bad side of karma. What I often forget is that karma isn't always about the bad, but can also be about the good you put out there that is supposed to come back to you. That's the kind of karma that I need more of. Good Karma... we all need more!