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Their circumstances were made worse by the debts they had incurred from the seasonal loans granted under Wang's reform initiatives.
Seasonal Loans of Rs.
It was due to his efforts that bank facilities were introduced at Tekmal for the first time in its history providing a means for farmers to obtain seasonal loans and to flourish agriculture.
The Seasonal Loan business is a small part of Grama Vidiyal's operations, comprising only 7 to 10% of Grama Vidiyal's outstanding loan portfolio.
It was still beginning its slow recovery from the fiscal crisis, it had no direct access to the credit markets, and it was worried about persuading the Federal Government to provide a substitute for the seasonal loan arrangements that were to expire in mid-1978.
Seasonal Loan: Grama Vidiyal provides Seasonal Loans to members who already have a General Loan outstanding and have a history of regular and prompt repayment and regular centre meeting attendance.