26. What are self help groups?
Self
Help Groups are homogenous groups of persons who have joined for mutual
help, mutual benefit and mutual confidence to each other, mostly from
the same locality. Generally consists of 5-20 members, an un-registered one.
27. What do you mean by SHG linkage?
The process of making loans available from banks to an SHG is called linkage. This is usually done after six months of its existence, only when they get through a process called ‘grading.’
28. What is the main difference between a attachment order and a garnishee order?
An attachment order is issued by revenue/IT authorities. The credit balances at the time of receipt of the order including future credits are attachable. Whereas,
a garnishee order is issued by any court of law for attaching the
credit balance in the accounts of the judgement debtor at the time of
receipt of the order. That means, future credits are not attachable.
29. What do you mean by Margin Money?
It
is a form of assistance by way of subsidy to certain categories of
loans such as loans to SHGs, PMRY etc., wherein this amount can be
treated as margin to a loan. The margin money will be kept as term deposit with the banking without paying any interest. No interest will be charged for the corresponding portion of loan also. It
will be adjusted to the loan after a minimum of 3 years from the date
of grant of loan if the total repayment period of the loan is 5 years,
after 4 years if it is 7 years etc., If the loan becomes
‘bad’, it can be adjusted even before the completion of the lock-in
period. It is an one time assistance, available only for new units.
30. What do you mean by margin to a loan?
The portion or share out of the total financial outlay or project cost of a loan to be born by the loanee is called the margin
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