A Bank That Lends Goats

In Korawan, a remote area of India, there's a bank that allows people to deposit goats as savings, or borrow goats on credit. Local coordinator Subedar Singh explained how it works:

"Wives of these people help them in crushing stones and breed two-three goats for additional income," Singh said.

"Though the area is best suited for goat breeding, no effort was made to establish it as a full fledged business activity," he said.

"We provide goats to women having interest in taking up breeding as a full-time activity as loan. When a goat gives birth to kids, generally two to three in numbers, one of them is deposited with the bank again," Prema explained.

Goats in the bank are medically examined every week.

"In case a goat dies, then it is either replaced from the market or from the bank depending upon the availability," Prema said.

Link via J-Walk Blog | Photo (unrelated) via Flickr user Pete Markham used under Creative Commons license

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I can just hear the goat banker now - "...but Bhanja, I assure you that you'll be much happier with 5 goats instead of just one. Yes, yes, with our super simple payment plan you will of course be able to afford it. Do not worry about what happens if you can't make your payment - I'm sure the value of your goat will remain healthy and plump".

And so the bailout dance begins all over again....
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I think the point of this is introduce a goat to a poor family so that it could which could produce milk, meat, fertilizer and eat unwanted weeds etc. Promotes sustainable living.

Using it as a gambling chip would defeat the purpose...
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