The Job Of Microfinance For The Advancement Of Self Help Groups In India
towards jumping from the category of developing economy to developed economy there is one big factor that stops and poses a hindrance in its path of advancement and that obstacle is termed as Poverty. The Indian economic policy focuses on a high growth rate along with a equal participation of the poor so that they avail the opportunities available in the market economy. And in order to ensure the participation of the poor it has become important for the country to create a platform where the poor can easily access the various financial products. Microfinance is one such strategy for inclusive growth. Microfinance can change the life of the poor though not completely but a reasonable change can be ensured. In different phases of life women play a crucial role despite the discrimination that is faced by them. But equality can be endowed to women by enhancing the entrepreneurial skills in them. This is possible through Self Help Groups (SHGs). In India women produce around 30% of the total food consumed but she gets only 10% of the property or wealth of the country. Development of women is inevitable for the development and growth of any economy. SHGs happen to be a positive step in this direction. Along with these mediums there should be a cheap and easy source of credit for them and Microfinance fulfills the requirement. This study aims to find the role of this strong medium of Microfinance in the advancement of SHGs in India