Editing Microcredit (section)

=== India ===
In [[India]], the [[National Bank for Agriculture and Rural Development]] (NABARD) finances more than 500 banks that on-lend funds to [[self-help group (finance)|self-help group]]s (SHGs). SHGs comprise twenty or fewer members, of whom the majority are women from the poorest [[caste]]s and tribes. Members save small amounts of money, as little as a few rupees a month in a group fund. Members may borrow from the group fund for a variety of purposes ranging from household emergencies to school fees. As SHGs prove capable of managing their funds well, they may borrow from a local bank to invest in small business or farm activities. Banks typically lend up to four rupees for every rupee in the group fund. In Asia borrowers generally pay interest rates that range from 30% to 70% without commission and fees.<ref>Nimal A. Fernando:[http://www.ruralfinanceandinvestment.org/sites/default/files/1153144135194_Microcredit_interest_rates_ADB.pdf Understanding and Dealing with High Interest Rate on Microcredit] {{Webarchive|url=https://web.archive.org/web/20170420045602/http://www.ruralfinanceandinvestment.org/sites/default/files/1153144135194_Microcredit_interest_rates_ADB.pdf |date=April 20, 2017 }}, Asian Development Bank, May 2006, p. 1</ref> Nearly 1.4 million SHGs comprising approximately 20 million women now borrow from banks, which makes the Indian SHG-Bank Linkage model the largest microfinance program in the world. Similar programs are evolving in Africa and Southeast Asia with the assistance of organizations like [[IFAD]], [[Opportunity International]], [[Catholic Relief Services]], [[Compassion International]], [[CARE (relief agency)|CARE]], APMAS, [[Oxfam]], [[Tearfund]] and [[World Vision]].