Progress in savings linked and credit Linked SHG under NRLM in West Bengal
Journal Title: PARIPEX-Indian Journal of Research - Year 2016, Vol 5, Issue 12
Abstract
In this study we may basically focus on the SHGs and the bank linkages in West Bengal. An SHG is a group of 10-20 individuals, voluntarily formed and related by affinity for a specific purpose. It is a group whose members use saving, credit and social involvements as instruments of empowerment. The group opens a savings account in a nearby bank branch. The group will keep a minimum balance for meeting any crisis needs and deposit the rest in a bank. The leaders jointly operate the bank account. While the leaders withdraw the cash from the bank, members are expected to deposit the cash by rotation. Such a system will help familiarize the bank to the members. A system will be developed to ensure accountability for cash in hand and to minimize the risk of fraud-usually the cash will be kept in a locked box and in the custody of one leader while the will be with another leader. The groups will maintain simple records and books of accounts to document the SHG operations and transactions. The documentation related to the operations of the SHG such as meeting proceeding, resolutions passed, attendance of the members etc., will be recorded in the minutes book and attendance register. The financial transactions related to saving, loan, income and expenditure would be recorded in the books of accounts. The members are also provided with a passbook, where in their transactions with the SHG are recorded in detail. This paper studies the consolidated data obtained from the banks along with preliminary analysis of the trends and progress under microfinance sector under the Bank Linkage model. The data furnished by the banks have been analyzed on year wise and bank wise under NRLM. Considering all the pros and cons we may be able to prescribe a suitable policy regarding the matter.
Authors and Affiliations
Mitali Halder
Keywords
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