Awareness of Loan Defaulters of LAMPS about Membership and Loans : A Review
DOI:
https://doi.org/10.17010/aijer/2021/v10i4/168223Keywords:
LAMPS
, Tribal, Membership, Loans, Knowledge, Awareness.JEL Classification Codes
, D8, D83, R13, G21, I32, J15.Paper Submission Date
, April 25, 2021, Paper Sent Back for Revision, June 30, Paper Acceptance Date, September 15, 2021.Abstract
The study assessed the level of awareness, particularly about membership and loans, of loan defaulters among scheduled tribe members of large-sized multi-purpose cooperative societies. The research was conducted in two of the five large area multi-purpose societies (LAMPS) functioning in Salem district in Tamil Nadu. A structured interview schedule was prepared to collect data from 187 defaulters, and the analysis was done with chi-square as a core statistical tool. The results showed that the level of awareness among the respondents toward their membership and loans differed considerably. Awareness was high among males (38.90%), followed by those with an education qualification of at least higher secondary (34.10%) ; whereas, in terms of occupation, farmers (47%) showed considerable awareness. While 40.60% of the respondents who had an annual family income between INR 2 lakhs – 3 lakhs had awareness, the highest level of awareness was seen among the respondents holding more than 3 hectares of agricultural land (87.50%). The level of awareness was found to have a positive correlation with social status and repayment of loans; whereas, it was negative when defaults were high. Non-payment of loans threatens the very purpose of the existence of LAMPS and should be regulated through valid measures of LAMPS and voluntary initiatives of members.Downloads
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