ROLE OF SELF-HELP GROUPS IN EMPOWERING WOMEN- A STUDY WITH SPECIAL REFERENCE TO MALAYAMBAKKAM VILLAGE (KANCHIPURAM DISTRICT)

Abstract

Poverty continues to affect billions of people worldwide. Microfinance is just one of several tools available to help people get out of poverty. Traditional banks do not offer small amount of loans to its customers. This is where micro finance comes handy. It specifically caters to the poor’s need for financial services. Microfinance institutions have been able to handle the issues of lending to the poor through products such as microcredit, micro-savings, insurance, and more, that can help customers pull themselves and their families out of poverty through innovative financial solutions like group lending. Self Help Groups also called as SHG’s form a vital part of micro finance institutions. It generally consists of ten to twenty- five members. The members are usually women. They come together voluntarily and contribute small amounts of money on a regular basis. This study primarily concentrates on SHG’s. A structured questionnaire was distributed among the members of SHG’s. The primary objective of the study is to find out how significantly the SHG’s have contributed to the economic and social empowerment of women.