AN ANALYSIS OF THE CONTRIBUTIONS OF NRLM/SGSY IN THE SAVINGS STRUCTURE OF SHGs IN THE STATE OF UTTAR PRADESH

Abstract

In a country like India, the prospect or success of Microfinance is highly dominated by the Self-Help Groups as it helps in the implementation of the microfinance programs. The people belonging to similar socio-economic conditions and residing in the same locality come together to form SHGs. These associations are voluntary associations formed to attain similar goals as well as for The alleviation of the poverty conditions. It aims at providing financial aid to the poor, in the form of small savings, credit and insurance. In India, Microfinance is emerging as a powerful tool for poverty alleviation. This paper however, is an attempt towards analysing the contributions of NRLM/SGSY scheme in the savings structure of Self-Help Groups in the state of Uttar Pradesh. This paper describes the conceptual framework of Microfinance and Self-Help Groups in India. The researcher has made an attempt to understand the role of microfinance in the upliftment of people. It is an effort to highlight the role of microfinance in socio-economic development through the study of micro financial schemes, especially in the state of Uttar Pradesh, by analysing the SHGs enrollment rate along with their savings structure of the population. KEYWORDS- Microfinance, Self-Help Groups, National Rural Livelihood Mission, Swarn Jayanti Gram Swarozgar Yojana.