Financial Inclusion through Self Help Groups (SHGs): A study of Aizawl District, Mizoram
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 10
Abstract
GOI (2008) defines Financial inclusion as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. Financial exclusion remains a major challenge for Northeast India. Since time immemorial, the poor village households were traditionally meeting their financial requirements through inappropriate informal and insecure means. However, in recent times, with the government initiative, Self Help Group (SHG) Model of microfinance service delivery has not only provided financial products and services to rural poor but also acted as a launching pad for livelihood intervention. The study attempts to explore and understand the extent of financial inclusion through SHGs in the State. The nature of the research used for the study was exploratory research to understand the actual scenarios of microfinance programme and its impact on financial inclusion of the SHG members. The study shows that participation in SHGs has indeed led to financial inclusion of the SHG members. Developing and nurturing SHG movement could pave a way for delivering microfinance product and services to poor household in the State, thereby enhancing livelihood and empowerment of poor, especially women in the state.
Authors and Affiliations
Dr. K. Angela Lalhmingsangi
Keywords
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- EP ID EP413087
- DOI 10.9790/487X-2010050711.
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