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

Work of self help groups:

1. Generally self help groups consist of 15-20 members.
2. Members belong to one neighbourhood.
3. They meet regularly.
4. Their savings varies from Rs. 25-Rs. 100 or more.
5. Only members can take loans from the group itself.
6. The group charges interest less than the money lenders.
7. All the important decisions regarding savings and loans are taken by the members of the group.
8. The group is collectively responsible for the repayment of the loan.
9. The regular meeting of the group provides a platform to discuss and act a variety of social issues such as health, nutrition and domestic violence etc.