How is the concept of Self-Help Groups important for poor people? Give your view
point.
Answers
Answer:
Self Help Group
SHG’s help in pooling the savings of the members, who are poor people
Members can get timely loans for a variety of purposes
They get loan at a reasonable rate of interest.
It helps borrowers to overcome the problem of lack of collateral and documentation.
It saves them from exploitation of the money lenders.
This interest income becomes an extra source of income of the members
Explanation:
Answer:
Self Help Group
SHG’s help in pooling the savings of the members, who are poor people
Members can get timely loans for a variety of purposes
They get loan at a reasonable rate of interest.
It helps borrowers to overcome the problem of lack of collateral and documentation.
It saves them from exploitation of the money lenders.
This interest income becomes an extra source of income of the members
hope this helps u