What are Self-Help Groups? Describe, in brief, their functioning. - Vidyadip

Question

What are Self-Help Groups? Describe, in brief, their functioning.

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Answer

Self Help Group is a group of rural poor women numbering between 15-20 members who pool up their savings.

They save from Rs.25 to Rs.100 per months.
Members take loans from the group on interest lesser than the interest charged by money lenders.
After a year or two, if the group is regular in saving, it becomes eligible for availing loan from the bank.
The group is responsible for the repayment of loan.

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