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Question
Identify which of the following Statement is true?
Options
Primary deposits and initial deposits are the same thing.
Secondary deposits and derivative deposits mean the same thing.
Both Primary deposits and initial deposits are the same thing and Secondary deposits and derivative deposits mean the same thing.
Neither Primary deposits and initial deposits are the same thing nor Secondary deposits and derivative deposits mean the same thing.
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Solution
Both Primary deposits and initial deposits are the same thing and Secondary deposits and derivative deposits mean the same thing.
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Community Based Repayment Mechanisms (CBRMs) have been institutionalised at branches involved in financing SHGs to monitor and ensure timely repayment of loans by SHGs. The number of SHGs with outstanding bank loans stands at nearly 5 million today, implying that the program has brought formal banking services to over 50 million women.
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