wiz-icon
MyQuestionIcon
MyQuestionIcon
10
You visited us 10 times! Enjoying our articles? Unlock Full Access!
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.

A
Gram Samiti
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
Gram Sabha
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
Self-help Groups
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
D
Panchayat Raj
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
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.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Let's Practice Again Part 1
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon