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SHGs is a small economically homogenous and affinity group of people voluntarily formed to save and mutually agree to contribute to a common fund to be lent to its members as per group decision.
Groups of 10–20 people are formed based on trust, shared goals, and socio-economic background. Members voluntarily join and agree on rules and responsibilities.
SHGs are encouraged to take up collective economic activities and start micro-enterprises. Access to training, technology, marketing, and credit is facilitated by various government and non-government organizations.
Members start regular savings, creating a group fund. Small internal loans are given to members for personal, emergency, or income-generating needs.
Small and Homogeneous: Typically consist of 10–20 members from similar social and economic backgrounds. Voluntary Participation: Membership is voluntary and based on mutual trust among members. Regular Savings: Members contribute small, regular savings which build a group fund. Internal Lending: The pooled savings are used to provide small loans to members for emergency or income-generating needs. Collective Decision-Making: Group decisions, especially regarding lending and repayment, are made collectively. No Collateral Required: Loans from the group or banks (through SHG linkage) usually do not require any security or collateral. Bank Linkage: SHGs are often linked with banks to access formal credit facilities under schemes like NABARD’s SHG-Bank Linkage Program. Women Empowerment: Most SHGs are women-led, helping in empowerment, skill development, and community leadership. Capacity Building: Members receive training in financial literacy, entrepreneurship, and livelihood skills. Social Support: SHGs also act as a platform for members to discuss and solve community or family issues.
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Self-Help Groups (SHGs) provide financial support to low-income individuals, especially women in rural areas, by enabling access to credit through group-based savings and lending without the need for collateral. These groups help members cover household needs, start small businesses, invest in agriculture, and pursue other income-generating activities. SHGs play a crucial role in promoting financial inclusion, empowering communities, and fostering economic stability in underserved regions.
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