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Question
Choose the most appropriate answer. In an SHG, most of the decisions regarding savings and loan activities are taken by
Choose the most appropriate answer. In an SHG, most of the decisions regarding savings and loan activities are taken by
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Solution
The correct option is B Members.
- Group members are responsible for taking most of the important decisions regarding the loan activities and savings.
- In Self Help Groups (SHG), the members will collect or pool their savings.
- To meet the needs of the Members of Self Help Group, they can take small loans from the group itself.
- The interest on the loans charged by the group will be lesser than interest rates charged by moneylenders.
- Self Help Group (SHG) will become eligible for availing loans from the banks, provided the Self Help Group is regular in savings for a span of one or two years.
- About the loans to be granted, the group decides on repayment schedule, the amount, interest to be charged, purpose etc.
Members.
- Group members are responsible for taking most of the important decisions regarding the loan activities and savings.
- In Self Help Groups (SHG), the members will collect or pool their savings.
- To meet the needs of the Members of Self Help Group, they can take small loans from the group itself.
- The interest on the loans charged by the group will be lesser than interest rates charged by moneylenders.
- Self Help Group (SHG) will become eligible for availing loans from the banks, provided the Self Help Group is regular in savings for a span of one or two years.
- About the loans to be granted, the group decides on repayment schedule, the amount, interest to be charged, purpose etc.
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