"Any case
of non-repayment of loan by any one member is followed up seriously by other
members in the group. " What it means Please explain
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Answered by
1
1.)the working of banks is followed by a particular mechanism.
2.)it rovides loans with which are been deposited by the depositors. aslo it pays the interest to the depositors with the money which the loan taking people pay as the rate of interest.
3. therefore, non-repayment of loan leads to sinking of bank because then it will not be able to pay the rate of interest to the depositors.
2.)it rovides loans with which are been deposited by the depositors. aslo it pays the interest to the depositors with the money which the loan taking people pay as the rate of interest.
3. therefore, non-repayment of loan leads to sinking of bank because then it will not be able to pay the rate of interest to the depositors.
Yashi2002:
This is not the correct thing though
Answered by
13
This means that if any group member in as SHG didn't pay back the loan in the name of the group then the whole group has to suffer. This is only if the group has its account in bank.
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