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kept in the local Scheduled commercial bank in the name of the animators of the group
namely Durga and Parvathi. The bank gave an interest of 7% per annum and this was
divided equally once in two years. Most members felt that they are comfortable with the
divided amount since they could use it for household expenditure or for buying gold.
Conclusions
In Udupi savings remained a symbolic element as the saved amount was not loaned. The
benefits they got were
a)
The discipline to save
b)
The divided interest income once in two years
Recommendations
These group members can be taught the power of internal loans which is a way of helping
members tide through their problems and will also earn them a higher interest than
parking funds in a bank.
