Financial Grant Released for Women Self Help Groups (SHGs)
Recently the Prime Minister has released financial grants for Women Self Help Groups (SHGs). Under which the Prime Minister has released capitalization support funds of Rs 1,625 crore to more than 4 lakh Self Help Groups (SHGs).
- The purpose of this grant is to increase the scope of entrepreneurship among women and ensure their maximum participation in the resolve of self-reliant India.
- In addition, Rs 25 crore has been released as seed capital for 7,500 SHG members under PM Formalization of Micro Food Processing Enterprises (PMFM E), Ministry of Food Processing Industries. Also, Rs 4.13 crore has been allocated for 75 Farmer Producer Organizations (FPOs).
Self Help Groups (SHG)
SHG is a small informal group of 10-20 persons, who are similar in social and economic background. These groups try together in a common interest to encourage the propensity of savings among the members and to mobilize and manage the resources for the benefit of their members.
Measures taken for Self Help Groups:
Deendayal Antyodaya Yojana – National Rural Livelihoods Mission: DAY-NRLM
Its objective is to link rural poor families with SHGs in a phased manner and provide them long-term support.
SHG-Bank Linkage Programme- The objective of linking SHGs with banks is to use SHG intermediation between banks and the rural poor, to cut down on transaction costs for both banks and their rural customers. This program has been started by the National Bank for Agriculture and Rural Development (NABARD).
Significance of SGH:
SHGs play a vital role in women empowerment, poverty alleviation, financial discipline, rural and human resource development etc.
Source – PIB
