A STUDY OF MICRO- FINANCE SERVICES TO RURAL POOR THROUGH SELF HELP GROUPS IN CHITTOOR DISTRICT, ANDHRA PRADESH

Miss. Umamaheswari

Volume : VII, Issue : IX, September - 2018

A STUDY OF MICRO- FINANCE SERVICES TO RURAL POOR THROUGH SELF HELP GROUPS IN CHITTOOR DISTRICT, ANDHRA PRADESH

Miss. Umamaheswari

Abstract :

This paper highlights the importance of Self Help Groups in reducing poverty in rural areas with reference to Chittoor District. The concept ofMicrofinance emerged as important toll for elimination poverty during 1980s in India. Microfinance is a oad category of services, which includes microcredit. An SHG may be registered or unregistered. It typically comprises a group of micro entrepreneurs having homogeneous social and economic backgrounds; all voluntarily coming together to save regular small sums of money, mutually agreeing to contribute to a common fund and to meet their emergency needs on the basis of mutual help. The main emphasis is the spread of the banking network and introductions of new instruments and credit packages and programmes were to make the financial system responsive to the credit the weaker sections in the society. Poverty is a one of the chronic problems in, despite being one of the fastest-growing economies in the world, clocked at a growth rate of 7.11% in 2015, and a sizable consumer economy. In Chittoor District though there are some hindrances the SGHs are playing crucial role in eliminating poverty.