Financially empowered women bulwark against societal evils: Modi


Financially empowered women are a “bulwark against societal evils”, Prime Minister Narendra Modi said on Thursday, while interacting with more than one crore women associated with various self-help groups across the country.

He also appreciated the role of women self-help groups in the development of rural areas, during the interaction through the Narendra Modi Mobile App. He said women self-help groups are laying the foundation for financial prosperity in rural areas and added that women in the country have the potential to transform society.PTI

What are self-help groups?

A self-help group (SHG) is a small village-based voluntary association of people belonging to similar socio-economic backgrounds. The SHGs act as a forum for members in providing space and support to each other. It also enables them to learn to cooperate and work in a group environment.

They promote small savings among members. The contributions made by the members over a few months will go towards a common fund in the name of the SHG. When there is enough money with the group, it will be lent to those requiring it. This process significantly contributes to the empowerment of the poor.

Self-help groups are initiated by governmental organisations (GO) with anti-poverty agendas. These groups can be seen as instruments for achieving goals such as empowering women, developing leadership abilities among the impoverished, and improving standard of living.

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