How many members constitutes a typical SHG?

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15-20

25-50

50-100

100-200

answer is A.

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Detailed Solution

15-20 members constitutes a typical SHG. Self-help groups are small groups formed by rural people. A typical self-help group has 15-20 members. Each member saves money regularly. They pool all of their savings together to meet the group's needs. Any member can take a loan from the SHG without any collateral. If the group regularly saves money, it becomes eligible for a bank loan. Members of the Self-Help Group decide upon most of the decisions regarding the savings, the amount of loan, and the interest rate themselves. SHGs reduce the need for an informal source of credit, which often becomes the reason for the debt trap.

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