write a note on self help groups
Answers
Answer:
A SHG (self help group) is a community based group with 10-20 members. They are usually women from similar social and economic backgrounds, all voluntarily coming together to save small sums of money, on a regular basis.
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Answer:
A co-operative society is a voluntary association of persons started with the objective serving its members. It is primarily designed for promotion of economic interest of its members with co-operation principles. It is based on an important philosophy known as “all for each and each for all”.
Features:
A close analysis of different definitions on co-operative society reveals the following essential characteristics which are sometimes called as Principles of co-operative society. These are:
- The membership of a co-operative organization is voluntary and open to all adult persons.
- It is a self-governing institution.
- Capital is raised from members in the form of share capital.
- It managed democratically.
- These are subject to government control as these are registered under the Co-operative Societies Act, 1919.
- Each member has one vote irrespective of shareholdings.
Advantages:
Co-operative society as a form of business organization has the following advantages:
- It is easy to form as no legal formalities are required for formation.
- It is managed democratically as it is based on the principles of “one man one vote”.
- Its membership is open to each and every person irrespective of caste and creed.
- It has an economical operation and as such management cost is less.
- The liability of members is limited up to the extent of shares purchased.
- It generally caters the needs of poor people.
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