Govt plans to create 75 lakh SHGs by 2022

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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