Micro Credit Innovations Department (MCID)'s launching of its Pilot Phase of the SHGs (Self Help Groups) Bank Linkage Programme in February 1992 could be considered as a landmark development in banking with the poor.The strategy involves forming small, cohesive and participative groups of the poor, encouraging them to pool their thrift regularly and using the pooled thrift to make small interest-bearing loans to members and, in the process, learning the nuances of financial discipline.
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