INVESTIGATING THE CATALYTIC ROLE OF SELF-HELP GROUPS IN FINANCIAL INCLUSION

Abstract

Since the commencement of the Twelfth Five Year Plan (2012–17), the Indian government has made financial inclusion a primary focus. Financial inclusion is ensuring that everyone, particularly the marginalised and underprivileged, has access to timely and reasonably priced financial services, such as basic savings accounts, credit alternatives, and insurance. The Central and State Governments have implemented various programmes to achieve this aim, including the Pradhan Mantri Jan Dhan Yojana, Self Help Groups, Kisan Credit Card, Business Correspondent and Business Facilitator Model, Branchless Banking, Pradhan Mantri Jeevan Jyoti Bima Yojana, and Pradhan Mantri Suraksha Bima Yojana. Through the provision of financial services to the underserved population, these programmes aim to unleash the potential for national growth. The purpose of this study is to look into the relationship between the Pradhan Mantri Jan Dhan Yojana (PMJDY) and the demographic characteristics of the respondents. It also aims to assess the effectiveness of the Self Help Group (SHG) programme in the Ahmedabad District and examine the ways in which the SHG programme has influenced the saving habits of the respondents. For the primary data analysis, 594 SHG members from a Gujarati village were selected at random. The researchers employed a range of statistical methods, including paired two-tailed tests, chi-square tests, and one-sample testing, to assess the collected data.