Question

Explain the role of self help group in the economy​

Answer 1

Answer:

Self help groups or SHGs help rural people to create a convenient bank for themselves. It helps them over come the problem of lack of collateral. Members collect funds and use it as a collateral to get a bigger loan or to lend it to the members in need for credit. Hence with money for business activities people can make their business successful and hence contribute to a better economy

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