UNLOCKING POTENTIAL: REINFORCING THE SHG-BLP THROUGH COLLABORATIVE EFFORTS AND INNOVATIVE LENDING MECHANISMS

Paper Number :WP27/2023
Publication Date :June 7, 2023

The revised RBI notification on the Self-Help Group Bank Linkage Program (SHG-BLP) provides a roadmap for strengthening and enhancing the program's effectiveness in the banking and financial sector. The key measures to be taken include strengthening collaboration with government agencies and NGOs, innovating lending mechanisms to cater to diverse needs, simplifying processes for easy access to credit, enhancing the financial literacy among SHG members, and implementing robust monitoring and evaluation systems. By implementing these measures, the program can achieve greater financial inclusion and women empowerment to contribute to inclusive growth.