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what is self help groups? how can they acchive formal source of credit? explain.
for..CLASS - 10th
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it is a financial intermediary committee usually composed of 20 local man or woman
through shgs can be found in other countries
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A self-help group is a financial intermediary committee usually composed of 25 to 40 local women or men. Most self-help groups are located in India, though SHGs can be found in other countries, especially in South Asia and Southeast Asia.
When the Self-Help group is registered, they can be linked to the bank through the 'SHGs linkage programme' under NABARD. When they are linked, they can get loans with low-interest rate from the commercial banks in which they can accumulate the capital on their own.
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