NASVI: Self-Help Groups (SHG)

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Street Vendors being a part of the unorganized sector have little or no access to credit from the formal sector financial institutions particularly for their economic activities without which they will have to depend on private moneylenders borrowing at higher interest rates. NABARD has already started refinancing banks in rural areas for on-lending to Self-Help Groups (SHGs) for income generation activities. Likewise, banks should be encouraged to extend credit to SHGs of vendors.

The main idea behind micro finance is that poor people, who can provide no collateral, should have access to some sort of financial services. Micro finance began with micro credit: the provision of small loans to very poor families especially belongs to street vendors to help them engage in productive and self-sustaining activities

NASVI supports the members in

  1. SHG’s formation & nurturing
  2. Informal training to the SHG’s,
  3. Facilitating SHG’s account opening,
  4. Book keeping at SHG’s level,
  5. Maintaining SHG’s credit discipline,
  6. Installment collection
  7. Collecting loan application form members,
  8. SHG’s rating and appraisal especially at the time of loan demand,
  9. Ensures opening of SHG’s Bank Account
  10. Act as linkage between SHGs and Bank

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