Emerging Challenges in Self-Help Groups in Service Sector: Problems & Prospects
Dr. Lt. Aayesha Shaik
Assistant Professor, Department of Commerce, KDC, Hana, Konda
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Self Help Groups(SHGs) are small, economically homogenous and affinity groups of rural poor, not exceeding 20, voluntarily formed to save and mutually agree to contribute to a common fund to be lent to its members as per group decision. These groups are usually formed by Government or Non-Governmental organisations with emphasis on both thrift and credit activities. All financial decisions are taken by the groups through a consensual approach. While no definitive date has been determined for the actual conception and propagation of SHGs, the practice of small groups of rural and urban people banding together to form a savings and credit organization is well established in India. In the early stages, NGOs played a pivotal role in innovating the SHG model and in implementing the model to develop the process fully. In the 1980s, policy makers took notice and worked with development organizations and bankers to discuss the possibility of promoting these savings and credit groups. Their efforts and the simplicity of SHGs helped to spread the movement across the country. State governments established revolving loan funds which were used to fund SHGs.
Keywords:
Self Help Groups(SHGs); SHG Federations; Mandal Samakhya
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