Well known for mobilizing the highest number of small savings accounts in country, West Bengal living up to the reputation has maintained its lead too in terms of micro finance as well as micro savings of self help groups (SHGs).
Unlike in other states, SHGs under the PACS in the state, do not recycle their thrift as loans to the members. And so, their savings keeps growing. This is the primary reason behind this as one third of the 6 lakh SHG groups does this practice.West Bengal State Cooperative Bank chairman Mr. Ashok Bandyopadhyay said "We discourage SHGs to use their savings for lending between themselves. The savings should be kept for contingencies."
Spreading the SHG movement in the district of Hooghly, the key man Mr. Sudarshon Dhari Dutta said "We encourage SHGs to keep the savings as term deposits so that they can earn higher interest rates on this". According to the latest statistics, the average savings per group is the highest in West Bengal. As on March 31, 2009, the 6,09,439 groups in the states have collectively deposited Rs 1233.28 crore in banks, showing an average savings of Rs 20,235 per group.
Spreading the SHG movement in the district of Hooghly, the key man Mr. Sudarshon Dhari Dutta said "We encourage SHGs to keep the savings as term deposits so that they can earn higher interest rates on this". According to the latest statistics, the average savings per group is the highest in West Bengal. As on March 31, 2009, the 6,09,439 groups in the states have collectively deposited Rs 1233.28 crore in banks, showing an average savings of Rs 20,235 per group.
