Question

In financial inclusion and priority sector lending term JLG is frequently used. What does L represent in JLG?

A Liquidity Correct Answer Incorrect Answer
B Liability Correct Answer Incorrect Answer
C Legal Correct Answer Incorrect Answer
D Locality Correct Answer Incorrect Answer
E Language Correct Answer Incorrect Answer

Solution

Joint Liability Group (JLG) is a group of 4-10 people of same village/locality of homogenous nature and of same Socio Economic Background who mutually come together to form a group for the purpose of availing loan from a bank without any collateral.

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