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 | | Link To: Union Gold Loan |
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| Joint Liability Groups [JLG] |
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| SCHEME FOR JOINT LIABILITY GROUPS |
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| The SHG Bank Linkage has been proved to be successful in providing access to financial services from the formal Banking Sector to the poorest of the poor. In order to develop effective credit products for small / marginal / tenant farmers, oral lessees and share croppers, as also entrepreneurs engaged in various non-farm activities, the scheme for Joint Liability Groups was launched. The salient features of the scheme are as under. |
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| 1. Who can form a Joint Liability Group? |
| Business Facilitators, Farmers' Clubs, NGOs, Panchayat Raj institutions, Krishi Vikas Kendra, State Agricultural Universities, ATMA, Bank branches, PACS, other Co-operatives, individuals, MFIs, Agricultural Inputs dealers can form JLGs . |
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| 2. What is the optimum size of a JLG? |
| The optimum member size of a JLG is 4-10. |
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| 3. How many members of a family can be the member of a JLG? |
| Only 1 member of a family is allowed to be the member of a JLG. |
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| 4. What is the maximum amount of loan allowed to a JLG? |
| A maximum amount of Rs. 50,000/-per member is allowed. |
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