Men’s thrift group gets 1.26 cr turnover

Banswada: The Adarsha Purusha Thrift Group, an all-male thrift group, has achieved an annual turnover of Rs 1.26 crore.

Narender Reddy had formed the thrift group with 90 members in 1995 in Kalluru village of Kotagiri mandal. The number of the members over a period of time increased to 316. Each member saves at least Rs 50 per month.

The thrift money contribution has been increased recently to Rs 150 a month. The members of this group can take loan, one and half times more than the amount they have saved at Rs one interest.

The group extends loan up to Rs 1 lakh for the youth for self-employment purpose. It also extends crop loans to farmers repayable upon the sale of harvested crop.

By: G Satyanarayana Goud