In which year was ‘Self Help Group – Bank Linkage Programme’ (SHG-BLP) introduced in India?

Key Points

• 1992 is the year when the 'Self Help Group – Bank Linkage Programme' (SHG-BLP) was introduced in India.
• The SHG-BLP is a pioneering initiative by the National Bank for Agriculture and Rural Development (NABARD) aimed at financial inclusion and poverty alleviation.
• This program links self-help groups (SHGs) of rural poor with the formal banking system to provide them with financial services.
• It has been instrumental in empowering women and promoting entrepreneurship in rural areas.
• The program encourages savings and provides access to credit, enabling SHG members to undertake various income-generating activities.

Additional Information

• The SHG-BLP model has been recognized globally and replicated in several other countries.
• As of recent data, millions of SHGs have been linked to banks under this program, benefiting millions of households.
• The program has led to significant socio-economic development in rural areas, including improved literacy rates, better health outcomes, and enhanced social cohesion.
• NABARD continues to play a crucial role in the expansion and monitoring of the SHG-BLP across India.
• The success of SHG-BLP has also led to the introduction of other similar initiatives aimed at financial inclusion and rural development.