about self help groups of class 10 economics
Answers
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Self help groups are organisations for the rural poor,particularly women. A SHG usually has 15 to 20 members,belonging to a particular neighbourhood who meet and save regularly.The members of the group can take small loans from the group to meet their needs.the group does charge an interest rate on the loans,but its much less than the loans from informal sources like loans from moneylenders,traders etc.If the group is regular in their savings,it becomes eligible to avail loan from bank.
ADVANTAGES OF SHG's :
1)Helps women become financially self reliant.
2)SHG's help small borrowers to overcome the
problem of lack of collateral.
3)provides a plattform to discuss various social issues such as health,nutrition,domestic violence etc.
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hope helped !! ☺
Answer:
Self-help Groups (SHGs) are loosely organized organizations where people gather to discuss how to better their living circumstances.
Explanation:
Self-help groups are unofficial associations of people that meet regularly to discuss issues in common. Self-help may suggest a focus on the individual, but a key aspect of self-help groups is the concept of mutual support—that is, assisting one another. The primary idea behind SHGs is to give the poor access to financial resources by grouping the rural poor, particularly women, into modest Self Help Groups. They also offer timely loans without collateral at a reasonable interest rate.
SHG aids in obtaining timely loans with affordable interest rates for a range of objectives. SHG creates the building blocks for the rural poor's organization. They assist women in developing financial independence.
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