Saturday, June 8, 2013

Financial activities of SHGs destroying amity in rural areas

...........At present there were around 5,20,000 WSHGs in the State. The AIDWA leaders alleged that several of them find it hard to get loans from banks. Due to it they approach microfinance organisations and dubious finance organisations registered as cooperative bodies. Loans taken from these institutions have to be returned with hefty interest which most of the time exceeds the Reserve Bank of India directive that interest should not exceed 26 per cent, they said..........

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