Self Help Groups
Question 1: What are self-help groups?
Answer:
Self-help groups refer to informal associations of people who gather together to find ways to improve living conditions.
Question 2: Are Self-Help groups free?
Answer:
Mostly, the self-help groups are free and also informal, and very nominal donation is taken to cover the expenses.
Question 3: How many members are there in the Self-Help group?
Answer:
Mostly about 20 members are present in the SHG group.
Question 4: Why Self-Help groups are growing in popularity?
Answer:
There is no requirement for collateral to get loans. If regularisation of a person is present in the group, he becomes eligible for taking loans from banks.
Question 5: What are the benefits of self-help groups?
Answer:
SHGs from the weaker sections of the economy are given the opportunity to build social capital. They also help in promoting inclusion and integrity among marginalized groups of people.
Self Help Groups
A self-help group refers to a financial group usually made up of 10 to 25 local women, who are aged between 18 to 40. Most of the self-help groups are situated in India, however, can be found in other countries as well, but concentrated in South and South-East Asia.