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This Is Financial Inclusion
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This is with reference to the article “Multiplier Effect of Self-help Groups” by Disha Bhan0t and Varadraj Bapat (EPW, 13 August 2016). At the outset, I appreciate that the authors have indicated that the National Bank for Agriculture and Rural Development (NABARD) had pioneered the concept of self-help groups (SHGs) in 1992 as a pilot project, which is not being recognised by some microfinance pandits.
The SHG–bank linkage programme is the largest microfinance programme in the world. As on 31 March 2016, the programme touched 101 million households through 7.9 million SHGs. They have deposits of around ₹13,691 crore and outstanding loans of nearly 57,119.2 crore.
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