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JLG Farmer Club ,NEF ,Willful Default, NPA SARFAESI
What is a Joint Liability Group (JLG) in the context of agricultural lending?
A JLG is an informal group of 4–10 individuals, usually small/marginal farmers, who come together to avail bank loans jointly and are mutually liable for repayment of each other's loans.
What is the minimum loan amount threshold for reporting a willful defaulter to Credit Information Companies?
Borrowers with outstanding of Rs. 25 lakh and above
What is the primary purpose of forming a Farmer Club under NABARD's guidelines?
Farmer Clubs are formed to act as a link between banks and rural borrowers, facilitating credit flow, disseminating technology, and building financial literacy among farmers at the village level.
What is the maximum loan amount a JLG member can individually avail without collateral?
Up to Rs. 50,000 per member typically
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