Problems of Self-Help Groups Members in Hill Station-Evidenced through Valparai

Abstract

Globalization has brought substantial benefits around the world, but in many of the developing countries it is fostering higher levels of growing disparity, between the rich and the poor. In a country like India the structure of the economy is dualistic. Here one could visualize the growing companies, booming stock markets and souring profits, making the rich, the richer and on the one hand, curtailing incomes and wages in the fields of agriculture and allied activities in making the poor, poorer. The rural poor were reeling on informal credit channels such as local money lenders, market vendors, shopkeepers and others, including friends and relatives. Credit in the informal system is usually available in plenty, when and where required, and often without collateral and lengthy documentation formalities, because of the personal intimacy. However the interest rates are not only extremely high, but sanctions often include conditions like verbal and written, which are heavily loaded in favor of the lender and are detrimental to the interest of the borrowers.

Keywords: N.A.

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