News:The government is planning to create a total of 75 lakh Self Help Groups by 2022 to enable more women to get a livelihood.
Facts:
Self Help Groups (SHGs):
- NABARD defines SHGs as “small economical homogenous affinity groups of rural poor, voluntarily formed to save and mutually contribute a common fund to be lent to its members as per group decision”
- The concept of Self-Help Groups was introduced in 1992 under the guidelines of RBI and NABARD.
NABARD guidelines on SHG
- The ideal size of an SHG is 10 to 20 members.
- The group need not be registered
- From one family, only one member is allowed.
- Members have the same social and financial background
