Self help groups, microfinance, financial inclusion and social exclusion: Insight from Assam

Maity, Shrabanti

doi:10.1016/j.heliyon.2023.e16477

Cited by 7 publications

(1 citation statement)

References 18 publications

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“…Credit facilities must be offered to improve entrepreneurship among women. The Self Help Group-Bank Linkage Programme (SHG-BLP) significantly reduces social exclusion among participants compared to non-participants and also ensures financial inclusion (Maity 2023).…”

Section: Shgs Women Empowerment and Financial Inclusionmentioning

confidence: 99%

Financial Inclusion and Its Ripple Effects on Socio-Economic Development: A Comprehensive Review

Mishra,

Kandpal,

Agarwal

et al. 2024

JRFM

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This study provides an overview of the different dimensions of financial inclusion, its socioeconomic impacts on society’s sustainable development, and future research agendas. Initially, 620 studies were identified using Scopus and other databases, employing keywords such as financial literacy, financial inclusion, financial capability, women’s empowerment, fintech, artificial intelligence, financial accessibility, sustainable development goals, and economic growth. After refinement based on focus and relevance, 325 papers were analyzed in detail for review, primarily focused on India and emerging economies. This review highlights that access to finance by untouched segments of society is essential for sustainable and socio-economic development in developing economies. The official banking system, an effort by the government to assist the financially disadvantaged, can incorporate the impoverished into a formal financial system through campaigns and credit system reforms. Socioeconomic programs reinforce one another and foster the development of children, women, families, and society. This research paper undertakes a systematic literature review primarily focused on relevant articles in broad areas of financial inclusion and its impact analysis and offers a valuable agenda for future research.

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Section: Shgs Women Empowerment and Financial Inclusionmentioning

confidence: 99%

Financial Inclusion and Its Ripple Effects on Socio-Economic Development: A Comprehensive Review

Mishra,

Kandpal,

Agarwal

et al. 2024

JRFM

View full text Add to dashboard Cite

show abstract

Inclusive Economic Growth Through Self-Help Group-Bank Linkage Programme in India

Deepa,

Mani,

Ramesh

et al. 2024

Studies in Systems, Decision and Control

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Rawls’ difference principle, self-help group, financial inclusion and social cohesion—lore or actuality? Experience of Central Assam

Maity

2024

Humanit Soc Sci Commun

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Microfinance is an alternative banking service available to low-income individuals or organizations for whom no institutional financial services are available. A widely accepted approach to assisting disadvantaged and excluded communities, especially in remote rural areas, is microcredit. The purpose of microfinance is to promote financial equality and inclusion by acting as a substitute for traditional lending methods for the marginalized. In India, Self-Help Groups (SHGs)—Bank Linkage Program that led microfinance—gained maximum popularity. The National Bank for Agriculture and Rural Development architected this model. In this model, Grameen Banks are associated with SHGs. The model is familiar as the SHG-Bank Linkage Program (SBLP). A microfinance program’s theoretical foundation is the “Rawls’ Difference Principle” embedded in the “Theory of Justice.” The microcredit program, through the Self-Help Group-Bank Linkage Program (SBLP), gained maximum popularity in India. These SBLPs are registered with the “Deendayal Antyodaya Yojana—National Rural Livelihoods Mission (DAY-NRLM)” under the scheme Aajeevika. In harmony with “Rawls’ Difference Principle,” the ultimate goal of Aajeevika is social cohesion for all. The current study aims to assess the effectiveness of the SBLP-driven microfinance program in promoting financial inclusion. Furthermore, unlike earlier studies, the present study also considers whether or not involvement in SBLP increases social cohesion, which is a crucial component of the Difference Principle. The empirical research is conducted using novel data collected through a field survey of 335 participants and 490 non-participants from Nagaon, Morigaon, and Hojai districts of Central Assam. The “Propensity Score Matching” method facilitates the impact analysis of SBLP. The participation decision in the SBLP is positively influenced by the level of education. Empirical results also indicate that Hindus and low-caste women are interested in participating in SBLP. Contrarily, distance from the bank and operational land holdings are negatively influencing the participation decision. The empirical findings support higher financial inclusion through SBLP involvement but do not support greater social cohesion. Based on the empirical results, we suggest that more SBLPs be enrolled with DAY-NRLP under “Aajeevika.” Simultaneously, social cohesion may be achieved only by guaranteeing participation for every deserving individual, irrespective of religion, caste, and class.

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Self help groups, microfinance, financial inclusion and social exclusion: Insight from Assam

Cited by 7 publications

References 18 publications

Financial Inclusion and Its Ripple Effects on Socio-Economic Development: A Comprehensive Review

Financial Inclusion and Its Ripple Effects on Socio-Economic Development: A Comprehensive Review

Inclusive Economic Growth Through Self-Help Group-Bank Linkage Programme in India

Rawls’ difference principle, self-help group, financial inclusion and social cohesion—lore or actuality? Experience of Central Assam

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