Economy
30
years of SHG -BLP
·
NABARD, through its’ small Credit Innovations Department has
continued its role because the supporter
and mentor of microfinance initiatives within the country.
·
The model of ‘SHG-BLP’ has evolved as an economical mechanism for
providing monetary services to the unreachable and underserved poor households.
·
What started as a pilot to link around
500 SHGs of poor to the formal financial institutions during the year 1992-93
has now become the largest microfinance programme in the world, in terms of the
client base and outreach.
·
The SHGs that follow ‘Panchsutras’ viz. conduct of standard group
conferences, regular savings among the group, internal loaning supported the
demand of members, timely compensation of loan and maintenance of correct books
of accounts – thought of to be of good|of excellent|of fine} quality and over
years have proven themselves to be good customers of Banks.
·
The non-governmental organization sector has contend a distinguished
role of operating as a Self facilitate group Promoting establishment (SHPI) by
organizing, nurturing and enabling
credit linkage of SHGs with banks.
·
NABARD later co-opted several others as SHPIs together with the
agricultural monetary establishments (RRBs, DCCBs, PACS), Farmers’ Clubs (FCs),
SHG Federations, Individual Rural Volunteers (IRVs) etc.
·
These stakeholders were encouraged to
take up promotion of SHGs by way of promotional grant assistance from NABARD.
·
This savings led microfinance model has currently become the biggest
coordinated monetary inclusion programme within the world covering almost one
hundred million households within the country.
·
With over eighty four of the teams being completely ladies teams, the
programme has provided the a lot of required push to empowerment of ladies
within the country.
·
Banks are also provided 100% refinance
support by NABARD for financing of SHGs.
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