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Self-Help Groups

Sita, Gita, a...

Question

Sita, Gita, and Charu are excellent embroiderers and have been sewing for the past 10 years. They now want to expand their skill and generate employment in the village where they live.
They have savings but require a loan. From where should they take a loan so that they get it at the lowest interest rate possible?

A

Bank

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B

Moneylender

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C

Self-help group

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D

Relative

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Solution

The correct option is C Self-help group
Small self-help groups (SHGs) having 15–20 members regularly pool in a particular amount as their savings and use the amount to give loans to its members at a minimal rate of interest.
Sita, Gita, and Charu can pool in their money with the other members of the SHG, and can start their work.

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