CBSE Class 10 Answered
What is the basic idea of the Self Help Groups? Mention any two advantages of Self Help groups for the poor?
Asked by madhavilathatirumala10 | 13 Jan, 2020, 07:40: PM
Expert Answer
The basic idea behind SHGs is to bridge the gap between the formal and informal sources of credit. SHGs provide timely loans to poor at reasonable interest rates.
Advantages:
1. Due to SHG, the poor members are able to avail loan even in the absence of collateral and at resonable interest rates.
2. Many women as the members of SHGs have become financially independent. This has led to women empowerment at the rural levels.
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