Team Blitz India
NEW DELHI: Female Self-Help Group (SHG) members’ accounts have shown an increase in income by three times during FY19-FY24, as per a study conducted by the Economic Research Department of the State Bank of India (SBI).
The maximum increase in income of 4.6 times was seen in urban female SHG members’ accounts. Also, the maximum income increase was witnessed in the age group of less than 27 years (4.7 times).
The report said the ensemble of SHGs, now 8.5 million strong and having 9.21 crore members, is furthering a revolution whose first credible offerings can be seen in the ever-swelling proportion of ‘Lakhpati Didis’, or agile women entrepreneurs in a uniquely Indian way.
SBI-SHG linkage, after a chequered journey of three decades, can truly be dubbed as the game-changer as 97.5 per cent of the SHGs today have a bank account (82.05 lakh out of 84.93 lakh SHGs), the report said.
