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Question
Explain the functions of "Self Help Group".
Solution
- Self-Help Groups are small groups (particularly in rural areas) that pool their resources and individual savings to assist others in need of funds.
- Allows members to work for themselves in a variety of self-employment opportunities.
- Assists in improving the living conditions of the affected members.
- Reduces reliance on informal credit sources.
- Thus, with the assistance of SHGs, the rural poor become economically independent, and their reliance on local money lenders who charge high interest rates is reduced.
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