What is shgs ? How it funtions in india
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SHG is abbreviated as Self Help Groups.
As the name suggests the members of this group are benefitted by other persons and also getting employment in banks.
SHG has 15-20 members in a group.
The persons in the group are from one neighbourhood who have the habit if saving money.
Members can take small loans from the group itself to meet their needs.
The group charges interest on these loans less than that of moneylenders.
After a year or two, if the group is regular in savings, it becomes eligible for availing loans in banks.
Loan is sanctioned in the name of the group and creates self-employment opportunities for the members.
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