Microfinance and SHG Formation

	A view of self help group meeting

Parmarth strives to improve economic condition of the poor by helping them to form self help groups and providing them credit from banks and other sources so as to enable them to take up income generation activities.

As on March 31, 2007, Parmarth had promoted formation of as many as 427 SHGs. Of these as many as 95 per cent belonged exclusively to women, 3 per cent exclusively to men and the rest to a mix of women and men.  As many as 92 per cent members of SHGs were women. The total membership of SHGs stood at 5,134, giving average membership of the group at 12.02.

Total savings of the groups stood at Rs 21.42 lakh and the loans availed by 83 SHGs, which have been sanctioned cash credit limit (CCL), stood at Rs 35.51 lakh. SHGs are using funds raised through CCL to launch income generation activities.

These SHGs have been formed under as many as nine projects.