Bringing Financial Self-reliance and Respect through SHGs in Rural India
Naari Shakti Mahila Mandal Self Help Group (SHG), Mahagama block, Godda district, Jharkhand
The excitement on Navrattan’s face is not just about getting back her precious necklace and bangles from the local money lender, it is the freedom from 120% annual rate of interest that she had to pay for her credit needs. Rural families fall into perpetual debt trap due to lack of access to easy and fair credit. SHGs across India have played a vital role in addressing this gap.
The Naari Shakti Mahila Mandal Self Help Group (SHG), which she is a part of in the village of Ramkol in Jharkhand, already has many more remarkable stories of change where women are becoming financially self-reliant through their saving group. Formed just a year back, it is redefining the idea of micro-saving for the future in the lives of these 15 women. The group saving is now used for emergency medical needs, buying agricultural inputs, children’s well being and education and most importantly has given the women a great sense of dignity and pride. Gone are the days when they had to bow before money lenders even for small credit. Today, they inter-loan at nominal interest rates under terms and conditions set by the women themselves!
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Mobilizing rural women into Self Help Groups to overcome debt trap
Make a Donation: Nov, 2020
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