A bank that gives loan to people based on trust
Megha Jain
Content Head
Kalupur co-operative bank in Ahmedabad has been lending loans to Vicharata and Vimukta Samuday (nomadic tribes) since 2006. 4500 accounts have been dedicated to the tribe members and loans of 25,000 to 50,000 have been provided to these people at a rate of interest of 10%. Most of the tribals don’t have address proof or permanent address so the loans are provided solely on the basis of trust established by these tribals.
