Impact of Self Help Group Scheme of Microfinance in Kaithal (original) (raw)

Financing under Self Helf Groups (SHGs) scheme is based on the concept of Microfinance which is a term for the practice of providing financial services such as microcredit, micro savings and micro insurance to the rural poor. As this program is going on for the last many years, the present study has been carried out keeping in view the objectives that what is the impact of Microfinance on living standards, empowerment of women and poverty alleviation in the Kaithal district of Haryana. . It has been found that there has been considerable increase in the income, savings and economic assets of the beneficiaries after joining the scheme. The increase in income and savings has raised the standard of living of the members. It has also resulted in increasing their confidence and has helped in social justice and empowerment of women.Microfinance can be a success story if we adopt healthy practices adopted by Gramin bank of Bangladesh such as five members in SHGs. It is sad to observe that ...