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Question
In _____________, each member pools in a particular amount periodically, and the group uses it to give loans to the members. These loans help a lot of people in starting and developing their businesses.
In _____________, each member pools in a particular amount periodically, and the group uses it to give loans to the members. These loans help a lot of people in starting and developing their businesses.
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Solution
The correct option is C Self-help Groups
Self-help groups use the money pooled in by the members as a source of credit. When the group is regular in its savings for a year or two, banks consider these savings as collateral and provide bigger loans to the self-help groups. This, in turn, is disbursed to the members of the self-help group as loans.
Self-help groups use the money pooled in by the members as a source of credit. When the group is regular in its savings for a year or two, banks consider these savings as collateral and provide bigger loans to the self-help groups. This, in turn, is disbursed to the members of the self-help group as loans.
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