Published Paper Details:

Financial institutions provide small-scale loans to the underprivileged through a program called microfinance. To assist them with their financial needs, customers can select from a range of services, including money transfers, leasing, credit, savings, insurance, and more. The majority of the poor remained outside the formal banking system, despite the expansion of organized banking in rural areas. This led to the search for a different delivery method that would meet the needs of the poor in terms of money. Self-help groups are made up of ten to twenty members of the same socioeconomic class who gather together to discuss and resolve shared problems. They collect voluntary savings on a monthly basis, pooling the money to give its members small interest-bearing loans. This research examines the SHGs in Lucknow, Unnao, and Kanpur, along with the bank loans that they received. After comparing the SHGs of rural residents, results were drawn.