Question

What is the basic idea behind the SHGs for the poor? Explain in your own words.​

Answer 1

Answer:

■ The basic idea behind the SHGs is meant to create

self - employment opportunities for the poor. The

SHGs help poor borrowers to overcome the problem

of lack of collateral. They can get timely loans for a

variety of purposes and at a reasonable interest rate.

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Answer 2

Self-help groups for the poor aim at boosting the self esteem, providing mutual help, etc.

Explanation:

1. Self-help groups are non-profit organisations which are established for promoting the sense of mutual help and mutual respect among the members of the society.
2. Self-help groups for the poor help the poor people in boosting their self-esteem.
3. In addition, these groups are also helpful in providing financial, social, and psychological support to their members in case such a situation arises.
4. Self-help groups have less formalities so the poor people can avail their services without much delay.