Micro Finance a means to empowerment of women in Karnataka: A Case Study of Kollegal Taluk of Chamarajanagara District
Micro Finance, Banking System, Rural Areas, Financial Service.
Self Help Group (SHG) a strategy which has emerged worldwide as the single most significant economic development program for women. A SHG is a small group of people who voluntarily come together to address their poverty and social problems. The core theme of SHGs are responsibility of small saving from group members and group lending from accumulated savings as well loans. It is for this reasons that SHGs are also micro finance or mini bankers. Microfinance is an upcoming sector. Pegged at just a few million dollars in the early 1990’s this sector has grown in to $20 billion global industry by 2007 reporting close to 100% growth year-to-year over the previous decade. Apart from growing in size, microfinance is today seen by most governments as a useful tool for poverty mitigation. Self Help Groups have been receiving greater attention by all the concerned like the Government, NABARD, RBI, Commercial Banks and RRB’s. This innovative form of credit delivery is catching up in a big way n rural areas. SHG movement is the strength of the formal banking system and flexibility of informal SHG’s in providing adequate financial services to the rural poor. The program has turned in to a social movement with high expansions rates in recent years. Fueled by competence and enthusiasm at all stakeholder’s levels it is expanding rapidly throughout India including tribal areas. It is probably the world’s largest and most successful microfinance program for the rural poor outstanding in its highlighting on self-reliance and local autonomy of the very poor.
Article Details
Unique Paper ID: 151113

Publication Volume & Issue: Volume 7, Issue 12

Page(s): 589 - 592
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