WOMEN'S EMPOWERMENT AND SELF-HELP GROUPS IN THE ANDAMAN ISLANDS

Abstract

Due of the high transaction costs and collateral requirements of traditional credit channels, microcredit has become a conspicuous source of credit for the impoverished. The purpose of microcredit is to handle their own money before negotiating bank credit on business terms. SHGs are regarded as one of the most important instruments for implementing a participatory approach to women's economic empowerment. SHGs assist members in assimilating the fundamentals of financial intermediation, such as prioritizing needs, establishing standards and guidelines, and maintaining accounting records. Since the funds used in the loan activities are their own, which they have saved over a long period of difficult times, this practice also fosters financial discipline. The program's objectives are to guarantee flexibility in terms of structure and operational rules, raise awareness before credit is given, make a deliberate effort to form groups, and influence economic empowerment through both individual and group activities. As a result, bank-linked loan supply aids in achieving economic planning goals. specifically, women's social and economic growth.