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Key Findings
The average amount of money accumulated in the form of a fixed deposit
or in a chit fund seems very high. This is followed by savings in banks.
There is presence of “high frequency” savings, namely saving large
amounts in fixed deposits and chits by few members.
Members save in banks and in chit funds due to its liquidity.
Members stuck to simple accounting that was taught to them at the initial
stage of membership.
Most members charged 24% interest, a legacy that they were used too
from SHG loans.
Though there was a great need of internal loans, members adjusted with
one another for their turn to come in unless there was an emergency.