Problems and Prospects of Selfhelp Groups through Micro Finance a Study with Special Reference to Bengaluru Urban District

Abstract

This research report underlined the quotProblems and prospects of Self-Help Groups through Micro Finance: A study with special reference to Bengaluru Urban Districtquot. The design of Self-Help groups concept was established in the year 1976 by Muhammad Younus, Economics Professor of Chittagong University in Bangladesh. After several stages, he expands this scheme of helping needy poor by means of providing credit into a formal bank project in the year 1983 and named it as Grameen Bank. Later, these kinds of guarantee-free petty loans for employment activities of the poor were coined as micro credit . This idea started to spread all over the globe. The studies were conducted by researchers and economists of many countries to see the impact of credit facilities provided by Grameen bank. All the studies were resulted in positive impact and suggesting that this system will eradicate lot of social and economic problems prevailing in the country such as poverty, lack of education and medical facilities, unemployment, gender discrimination, imbalanced nutrition and status inequality. With these studies, the importance of Self-Help Groups through microfinance for the survival of the poor has been emerged in different countries. newline