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. The group is able to repay the loan installment regularly
