Mention if the given statement is true or false:

SHG stands for Sole Help Group.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

True

False

answer is B.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

The given statement is false as SHG stands for Self Help Group.
Self Help Groups can be formed with the rural people, especially women, as members. People from the neighbourhood that gather frequently and save regularly usually make up a self-help group. Members of the self-help group may borrow modest amounts of money from the group to cover their requirements. The members of a self-help group (SHG) will accumulate or pool their savings. The committee makes decisions on the loans to be given, including the amount, interest rate, repayment plan, and purpose. The organisation will assess interest on these loans, which will be lower than moneylenders' interest rates.
The correct statement is, “SHG is the short form of Self-Help Groups.

Watch 3-min video & get full concept clarity