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Q.

[[1]] have brought about a revolutionary change in the rural sector.


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Detailed Solution

Self-help groups have brought about a revolutionary change in the rural sector.
The plan is to form small Self Help Groups (SHGs) for the rural poor, especially women, and combine their savings. Members may borrow a small amount of money from the organization to meet their requirements. Even while the group adds interest to these loans, it is still less than the money lender does. The company can apply for a bank loan if it saves money regularly. Loans are approved in the group's name and are intended to allow members to work for themselves. Since the SHG will be responsible for paying back the debt, banks are prepared to make unsecured loans.
 
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