Abstract
The formation of groups among individuals who share common interests or objectives is a natural social phenomenon. Throughout history, people have joined together to overcome challenges collectively, often achieving greater success through cooperation than through individual efforts. Self-Help Groups (SHGs) are one such community-based initiative designed to empower women by enabling them to address their social and economic challenges collectively. These groups provide a supportive platform for women to enhance their confidence, improve their livelihoods, and participate actively in community development. Over the past three decades, the Self-Help Group movement has expanded significantly across India, emerging as an effective strategy for poverty alleviation and women's empowerment. The movement is founded on the belief that economically disadvantaged individuals possess the inherent potential to improve their living conditions when provided with appropriate opportunities and institutional support. In this context, microfinance has become a powerful instrument for promoting economic empowerment by providing financial services to low-income households, particularly women. Microfinance primarily involves the provision of small loans (microcredit) to poor individuals for income-generating and self-employment activities. In addition to credit, it encompasses other financial services such as savings, insurance, financial literacy, and capacity-building programmes. These services enable women to establish and expand micro-enterprises, increase household income, and achieve greater financial independence. Furthermore, the cooperative movement in India has long played an important role in extending financial services to rural and economically weaker sections of society. Through cooperative institutions and Self-Help Groups, access to affordable credit and financial resources has improved, contributing significantly to employment generation, poverty reduction, and inclusive socio-economic development.
Key Words: Self Help Group, Employment Creation, Microfinance
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