Bank, HDFC, Karur Vasya Bank, Tamilnadu Mercantile Bank B. Regional Rural bank (e.g) Pandian Rural bank, Pallavan Rural Bank, Vallalar Rural Bank Commerce - - . . PM poverty.
This concept mainly demonstrates the significance of togetherness. The Self Help Group represents an association of people formed to attain certain common goals. Self Help Group is a small informal voluntary association created for the purpose of enabling members to reap economic benefit out of mutual help, solidarity, and joint responsibility. The benefits include mobilization of savings and credit facilities for the pursuit of group enterprise activity.
National Bank for Agricultural & Rural Development (NABARD) has defined Self Help Group as “a homogenous group of rural poor voluntarily formed to save whatever amount they can conveniently save out of their earnings and mutually agree to contribute to a common fund of the group to be lent to the members for meeting their productive and emergent credit needs” Objectives of Self Help Groups Following are the objectives of Self Help Groups . Focusing on empowerment of women. . Saving people from the clutches of money lenders .
Building capacity of women and to enable them to participate in generating activities. . Creating the habit of saving in the minds of the people who are economically backward. .
Promoting entrepreneurship skills among women. . Creating awareness about the importance of credit circle or revolving credit and the payment of the circle. .
Elevating the economic standard of the member’s families. Success story - M/s Gandhimathi Appliances Ltd. Tamil Nadu Gandhimathi Appliances Limited was started by Sri. V.Murugesan and his sons with capital of rupees only.
Since the group has grown to a level of being recognised as one of the best quality Brand. They were always sure that the product will sell for its quality than for the price. They believe firmly that there is no substitute for hard work to attain success. This was their firm conviction in business.
This company is constant innovator in terms of brand new products and addition of new features to their existing