Published Paper Details:

Microfinance has become a significant tool for socio-economic development, gaining prominence in India with the 1992 introduction of the Self Help Groups (SHGs) Linkage program model. This indigenous model has been highly successful in India's microfinance sector. This paper evaluates its current status of microfinance by analysing the report published by NABARD. Key areas of examination include the formation of SHGs, their linkage with banks, loan disbursement. The paper also assesses the regional progress of the SHG Linkage program. Since its inception, the SHG bank linkage has been the most effective means of reaching impoverished communities. The model's success is evident in the positive trends in SHG formation, bank linkage, loan disbursement, and loan collection, which indicate promising future prospects for the program. The SHG bank linkage model's success underscores microfinance's importance in driving economic development. By providing access to financial services to those traditionally excluded, SHGs have empowered millions, promoting financial inclusion and economic stability. This paper highlights the critical role of microfinance in poverty alleviation and economic progress in India, demonstrating the effectiveness of the SHG bank linkage model and its potential for furthering socio-economic development. In conclusion, the SHG linkage program has proven to be a robust framework for delivering microfinance, fostering significant improvements in economic development and poverty reduction. The model's success stories and positive trends suggest a bright future for microfinance initiatives in India