The Pros And Cons Of Self Help Groups

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Self Help groups as a part of technology:
As the world today is moving towards technological adoption, the banking industry is no less to follow the similar pattern. Most leading banks have undertaken this front of making their organization technologically viable, but the one industry that has been left out was the MFIs.
In order to cater these needs, digitization of Self Help Groups is a step towards systematic and faster achievement of the their goals of SHG movement.
Keeping this in mind, NABARD attempted digitization of SHGs under a project called EShakti to take advantage of the available technology to address the problem of book keeping, capturing the credit history of SHG members, generating SHG grading report based on its financial and nonfinancial records and making them available to all important stakeholders. The stakeholders especially bankers can now take informed decisions for extending credit linkages on the basis of reports generated through EShakti.

Project EShakti contemplates mapping of the existing SHGs in a district by capturing financial and non-financial information of the SHG and its members and uploading the transactions including minutes of meetings, through an App loaded on Android based Tablets/ Mobiles to a dedicated website https://eshakti.nabard.org/. To address the regional GPRS
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Business correspondents are the key players in Microfinance sector with technology-based transactions they are provided Point of Sale (POS) devices and doing EKYC through the finger print technology. They use Micro-ATM (POS) handheld device to perform basic financial transactions like Deposit, Withdrawal, Funds Transfer, Balance Enquiry, Mini Statement and other remittance. The below table depicts the POS based transactions during last five year across various

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