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- Study aims to capture the changing landscape of SHGs through analysis of credit utilization and digital behavior matrices of SHGs/ SHG members/ Lakhpati Didis.
- A Lakhpati Didi is a SHG member who earns an annual household income of ₹ 1 Lakh or more.
- SHGs are voluntary organization of people operating within a framework of rules and regulations for common economic and social objectives with an approach of participatory decision-making and sharing of benefits in an equitable manner.
- Key highlights of the report
- Incomes of female members of SHGs have more than tripled in the last five years.
- ~97.5% of the SHGs have bank accounts.
- ~65% of rural SHG members have moved upwards in terms of relative income in FY24 as compared to FY19.
- With rise in income of female SHG members, rural Female Labour Force Participation Rate (all ages) is also rising with the correlation of 0.91.
- SHG Bank Linkage Programme (SHG - BLP)
- Started as a pilot by NABARD in 1992-93 to link around 500 SHGs to the formal financial institutions.
- It has now become the largest microfinance programme for delivering financial services to poor in a sustainable manner.
Other initiatives for empowerment of SHGs
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