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| Banking as an enterprise |
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| Location |
Dharmathupatty , Kannivadi,
Tamil Nadu |
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| Geographical Map |
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| The Group |
Kulumai SHG Federation |
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Date of Loan Disbursement |
September 2006 |
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| Loan Amount |
4,80,000 (Rs.64,000 from this Bank) |
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| Activity |
The Kulumai Federation consists of
134 SHGs. They have been functioning successfully for
the past 3 years and have been extending need-based credit
to the SHGs who are membes of the Federation. The village
communities in general and the SHGs of ‘Kulumai’ in particular
were able to save considerable amount of money, which
would have otherwise gone as interest to the moneylenders.
Kulumai Federation will extend financial assistance to
other SHGs. Kulumai is registered body and has formalized
loan procedure as suggested by MSSRF.
The loan amount of Rs. 4,80,000/ will be repaid by kulumai
to MSSRF in 48 monthly installment of Rs. 10,000/- each. |
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