A Self-Help Group (SHG) is an unregistered group of micro-entrepreneurs with similar social and economic backgrounds, who voluntarily work together to improve their individual and collective business. The purpose of SHGs is to promote the businesses of women, young adults, and unskilled farm workers. Members save small amounts regularly, with the mutual agreement to contribute to a common fund to meet their emergency needs. The group members use collective wisdom and peer pressure to ensure proper use of credit and timely repayment of loans.

BLESS is partnering with NABFINS, a subsidiary unit of NABARD (National Agriculture Bank for Rural Development) to support micro-credit for the women’s self-help groups promoted by BLESS in Cuddalore District.

Activities

During the reporting year, BLESS has facilitated a loan of Rs.2,85,95,000/- for 54 women self-help groups spreading in 23 villages comprising 470 women. During the same period, an amount of Rs.3,35,74,065/- has been re-paid from 113 women SHGs. Most of the loans helped the women members to repay the loans available from the money lenders with higher interest rates and start new micro-enterprises to generate income.