ROLE OF SHG IN FINANCIAL INCLUSION: A STUDY OF FINANCIAL EMPOWERMENT OF WOMEN THROUGH SELF-HELP GROUP

Financial inclusion is the process of ensuring that vulnerable groups, such as those who are economically and socially weaker parts and low income groups, have access to the necessary financial products and services in a fair and transparent manner from official financial institutions. Financial inclusion is a fundamental requirement for a nation's economy to advance. However, the majority of people in the majority of poor nations lack basic financial literacy. One practical method for financial inclusion, particularly in rural areas, is the self-help group. Self-Help Groups (SHGs) are informal, small groups of people who come from similar socioeconomic backgrounds. They gather for the objective of using mutual and self-help to resolve their shared issues. The SHG encourages its members to make modest savings. One bank is where the savings are kept. The SHG is the name of this shared fund. The main objective of this study is to find out and understand the role of SHG in financial inclusion of women. Primary data has been collected by random sampling method through structured interview schedule. For which 104 SHG members from Hawalbagh block of Almora district have been included as participants. Data has been analyzed by percentage method and research hypotheses have been tested by chi-square test. The results show that SHG has greatly facilitated women's access to financial services and played a significant role in their economic empowerment.