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Microfinance, Self-Help Groups and Empowerment in Maharashtra

In: The Indian Economy Sixty Years After Independence

Author

Listed:
  • Raghav Gaiha
  • Mani Arul Nandhi

Abstract

The 1990s were marked by partial deregulation of interest rates, greater competition in the banking sector, and a new nationwide microfinance initiative linking banks, NGOs and informal local groups (self-help groups or SHGs).1 Better known as ‘SHG Bank Linkage’, it is expected to become a dominant form of financial access for the rural poor. However, informal/local moneylenders continue to have a strong presence in rural India, delivering finance to the poor, as a vast majority of them still lack access to formal sources of finance (Basu and Srivastava, 2005, Dasgupta, 2005, and Ghate, 2007). A major challenge therefore is to widen access to finance of the rural poor-especially women as a highly disadvantaged and deprived group- to meet their diverse needs (for example, savings, credit, insurance against unexpected events) through flexible products at competitive prices.2

Suggested Citation

  • Raghav Gaiha & Mani Arul Nandhi, 2008. "Microfinance, Self-Help Groups and Empowerment in Maharashtra," Palgrave Macmillan Books, in: Raghbendra Jha (ed.), The Indian Economy Sixty Years After Independence, chapter 10, pages 179-199, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-22833-7_10
    DOI: 10.1057/9780230228337_10
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    Cited by:

    1. Demont, Timothée, 2022. "Coping with shocks: How Self-Help Groups impact food security and seasonal migration," World Development, Elsevier, vol. 155(C).
    2. Timothée Demont, 2020. "Coping with shocks: the impact of Self-Help Groups on migration and food security," Working Papers halshs-02571730, HAL.

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