Explain Self-Helps Groups (SHG).
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Self-Help Groups (SHGs) are community-based organizations comprising small groups of individuals, typically women, who come together voluntarily to address common socio-economic challenges and improve their quality of life. SHGs empower members by promoting self-reliance, entrepreneurship, and collective decision-making.
Key features of SHGs include:
Mutual Support: SHG members provide mutual support, share experiences, and pool resources to address common issues such as poverty, access to credit, livelihood opportunities, and social empowerment.
Savings and Credit: SHGs encourage regular savings by members, which form a common fund. This fund is used to provide microcredit and loans to members for income-generating activities, small businesses, or meeting emergency needs.
Skill Development: SHGs often facilitate training and capacity-building programs to enhance members' skills in areas such as financial management, entrepreneurship, health, and education.
Social Empowerment: Participation in SHGs boosts women's confidence, leadership abilities, and social status within their communities. It enables them to voice their concerns, access information, and engage in decision-making processes.
Linkages with Institutions: SHGs often collaborate with banks, government agencies, NGOs, and development organizations to access financial services, markets, and government schemes.
SHGs have proven to be effective mechanisms for poverty alleviation, women's empowerment, and community development. They promote inclusive growth, strengthen social capital, and contribute to sustainable livelihoods and economic resilience at the grassroots level.