Discussion
A Joint Liability Group is an informal group that is made up of ___________ individuals who take loans against mutual guarantee.
Answer: B
A Joint Liability Group (JLG) is an informal group of 4 to 10 individuals who take loans against mutual guarantee, a model promoted by NABARD for tenant farmers and small cultivators who have no collateral.
1 to 3 members is too small to share liability, and groups of 15 to 18 or 20 to 30 members describe larger self-help style groups, not the JLG.
A JLG is built on peer guarantee, so the small size of four to ten members lets each member know and rely on the others, and a group of three or fewer would not spread the risk.
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