CURRENT AFFAIRS

Detailed explanation-1: -In the current Financial Year, up to 28th February, 2022, against the target of 7.80 lakh SHGs, 5.43 lakh SHGs have been formed and cumulatively, 74.80 lakh SHGs have been formed across the country (except Delhi and Chandigarh) under DAY-NRLM .

Detailed explanation-2: -In the financial year 2022, around 1.27 million self-help groups (SHGs) were digitized under Project EShakti.

Detailed explanation-3: -The ideal size of an SHG is 10 to 20 members. (Advantage: In a bigger group, members cannot actively participate. Also, legally it is required that an informal group should not be more than 20 people.).

Detailed explanation-4: -The government plays a crucial role as a facilitator for the SHGs. There are various government schemes dedicated to the promotion of the SHGs. Some of them are as follows: Swarn Jayanti Gram Swarojgaar Yojana (SGSY): It seeks to form SHGs and develop the skills of its members to promote self-employment in rural areas.

Detailed explanation-5: -(i) SHGs should be in active existence for at least 6 months as per their books of accounts (and not from the date of opening of S/B account). (ii) SHGs should be practicing ‘Panchasutras’ i.e., regular meetings, regular savings, regular inter-loaning, timely repayment and up-to-date books of accounts.