Question

what is self help groups?Explain its importance

Answer 1

Self-Help Group (SHG) is a small voluntary association of poor people, preferably from the same socio-economic background. They come together for the purpose of solving their common problems through self-help and mutual help. The SHG promotes small savings among its members. The savings are kept with a bank. This common fund is in the name of the SHG. SHG is a group formed by the community, which has specific number of members like 15 or 20. Usually, the number of members in one SHG does not exceed twenty. In such a group the poorest would come together for emergency, disaster, social reasons, economic support to each other  have ease of conversation, social interaction and economic interactions.

Answer 2

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Self-Help Group (SHG) is a homogeneous group of poor, women. ... This scheme mobilises the poor rural people especially women to form groups for mutual benefits. SHGs play a crucial role in improving the savings and credit and also in reducing poverty and social inequalities.