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Unit 4 Ch 3 : Money and Credit — Social Studies STD 10 — Question

CBSE BoardEnglish MediumSTD 10Social StudiesUnit 4 Ch 3 : Money and Credit5 Marks
Question
Describe any four advantages of self Help Groups for the poor.
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Answer

Advantages of Self Help Group
  1. Members meet and save money regularly according to their ability.
  2. Saves the group from the debt trap.
  3. Members can take loans at low rate of interest.
  4. After a year or two with regular savings they can avail loan for self ­employment from the bank.
  5. It overcomes the problems of lack of collateral to take formal loans.
  6. Help the women to become financially self-reliant, discuss and action variety of social issues.

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