SELF HELP GROUPS AS VEHICLES TO SET UP MICROENTREPRISES

Women within the ages of 18 and 50 make up the majority of self-help groups, often known as SHGs (short for "self-help groups"). Self-help groups are prevalent in South and Southeast Asia, although the majority may be found in India. A SHG is a group of hourly workers who have banded together to create an informal union. Contributions from able-bodied members are pooled and distributed to those in need. Until there is enough money in the organisation to begin lending, members may make tiny recurring savings contributions over a few months. After that, anybody in the community, whether a member or not, may borrow the money and use it for anything they choose. In India, several SHGs have banking partnerships to provide their members with access to microloans. Self-Help Groups: What Are They?