How did Self Help Groups fill the gap in the formal credit system in rural India?

They formulated their own rules and regulations, which every person followed They formed unions and sat on strike against the government Each member contributed and formed a pool of money None of the above

Each member contributed and formed a pool of money

All the members of the group contributed small amount and formed a pool of money. From the pooled money, credit was given to the needy members to be repayable in small instalments at reasonable interest rates.