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 Self help groups are the most predominant micro finance organization in India. The reason for the growing popularity and success of the micro financing through self help group is the accessibility of the scheme by the beneficiaries unlike many other development oriented schemes prevalent in the country.
Chetanalaya is involved with the programme of self help groups and micro finance from the year 2000-01. Together with the increase in the number of groups from the first year of the programme to the last financial year 2008-09 the turnover of the groups also has substantially increased. Some 18000 members of 1200 self help groups have inter loaned over ten million rupees (Rs. 10,00,00,000) till 31st March 2009. During the past one year the groups have earned an interest of approx. Rs. 40,00,000. The members have earned their dividends in significant amounts through their small savings, inter-loaning and micro enterprises.
The approach of considering the poor as not only Chetanalaya’s concern but also its main resource made a remarkable change in both, in implementation strategies adopted and in the volume of benefit reached to the people. The interventions become less of delivery of goods and services and became more a rights based approach for structural transformation through various types of social movements. The immediate result of the paradigm shift was an increase in the formation and growth of self help groups especially among women. The SHG movement which began with 30 groups in the year 2000-01 exhibited steady growth and the at the year end of 2008-09 there more than 1200 groups with turnover of Rs. 10 crores. The movement continues not only with providing substantial economic growth to the members but also becoming a catalyst for social change.
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