Enhancing Socio-Economic Development through Self Help Groups (SHGs): A Review of the Literature
Keywords:
Microfinance, NABARD, Bangladesh Grameen Bank, SHGs, banks, NGOs, panchayathAbstract
Microfinance has been offered as a feasible alternative for maximum outreach and poverty reduction among the rural poor, particularly among the most vulnerable members of society, namely women, small and marginal farmers, and landless farmers. With 135 million individuals, India ranks fourth in the world in terms of financial exclusion. In 1992, NABARD launched a scheme to organize poor people into a group of 10–20 persons and linking that group with the banks. The scheme was broadly a replica
of Bangladesh Grameen Bank. Under this scheme, poor, preferably the women are organized in SHGs with the help of Banks, NGOs, Panchayath members and banks financing these SHGs were made eligible for concessional refinance by NABARD. This study aims to investigate the numerous characteristics and effects of Self Help Groups on the socioeconomic empowerment of women, as researched in several studies.
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