What are the advantages of SHGs?

cbse
economics
money-and-credit
cbse-class-10
cbse-class-10-social

#1

What are the advantages of SHGs?

Answer:
Advantages of SHGs:

  • The SHGs help the borrower to overcome the problem of lack of collateral.
  • They can get timely loans for a variety of purposes and at a reasonable interest rate.
  • SHGs are the building blocks of organisation of the rural poor.
  • Not only do they help women become financially self-reliant, the regular meetings of the group provide a platform to discuss and act on a variety of social issues such as health, nutrition, domestic violence, etc.