What is the basic Idea behind the shg's for the poor?explain
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VERY SMALL AMOUNT FROM EVERY POOR ADDs a lot of amount and it tells the poor people to save in which they are quite interested and if the Shg’s are quite regular and very consistent then they are officially registered to gov.
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The Self Help Groups (SHGs) have been set in India with an aim to help the rural poor, especially women. A typical Self Help Group comprises 15-20 people from the same neighbourhood who save some money from their daily wages and collect them together. People can borrow money from these groups during an emergency or when they are in need. They charge a minimum rate of interest from the borrowers. Once the SHG has managed to save a defined amount of money, they are also eligible to take loans from banks. The main purpose of introducing these Self Help Groups was to increase small scale employment opportunities for the rural people so that they could start a small business to earn a livelihood.
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