Is self help group are formal source or informal source of credit
Answers
Answer:
Self Help Grpups are formal sources of credit
Explanation:
Self help groups are the groups organised many of the villages.They are established in the poor sectors of the villages. SHG Have been instrumental in making the poor rural women financially strong. They train them in mananging the accounts.,Handling business firms etc. Hence they are Formal sources of credit.
Thank you,
DivyeshRajPillai
Answer:
self help groups are informal sorce of credit.
Explanation:
*It is an informal source of credit as it is not supervised by any organisation. Also,it provides credit only to the members of its own group*
Self-Help Groups (SHGs) are informal associations of people who choose to come together to find ways to improve their living conditions. It can be defined as self governed , peer controlled information group of people with similar socio-economic background and having a desire to collectively perform common purpose