AHMEDABAD: Exemplifying financial inclusion, a bunch of 115 self-help groups (SHGs) in Saurashtra region of Gujarat have helped villagers save Rs 17 lakh through a slew of interventions and developing a microfinance ecosystem.
These SHGs operational across 34 villages were formed by GHCL Foundation, the CSR-arm of the diversified conglomerate, GHCL.
The foundation aims to cover 45 more villages by the end of FY 2023.
“Financial assistance for various needs is a major concern for villagers. Regular bank loans from nationalised and cooperative banks were available to villagers however, both financial inclusion as well as literacy were a challenge due to lack of awareness. Therefore, microfinance was a key sector where SHG formation gained momentum,” said a spokesperson of GHCL Foundation.
Over time, the total disbursement stands at Rs 2.30 lakh of the cumulative saving of Rs 17 lakh. Besides forming a habit of saving, these villagers also borrow money for various reasons ranging from income generation, emergency needs, household needs and even education.
Major beneficiaries of these SHGs are in Sutrapada, Lati, Kadwar, Nakhada, Bij, Zala Vadodara, Alidra, Sutrapada Bandar, Savani, Ratidhar, Mohabbatpara, and Bavani Vav, among others.
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