I. INTRODUCTION:

The financial sector reforms in India, with financial inclusion emerging as a major objective, motivated policy planners to search for products and strategies for delivering financial services to the poor in sustainable manner. As a result microfinance has emerged as a hopeful medium for extending financial services to the traditionally rural sections of population who generally lacked direct access to banking services. Micro finance is the provision of short- duration micro – loans, generally offered without collaterals, to borrowers form the low income group for the purpose of income generation with high frequency of repayments.

OBJECTIVES OF THE STUDY:

· To study the origin and growth of SHG – Bank Linkage programme.

· To examine progress of SHGs region – wise, agency-wise.

· To identify challenges in the working of SHG-Bank Linkage and give recommendations to overcome them.

METHODOLOGY AND DATABASE:

The present study is descriptive and analytical in nature. The study is based on secondary data. The data is collected from various publications, print and electronic of government and non – government agencies such as National bank for Agriculture and Development, Reserve bank of India. Simple statistical tools like percentage, average and simple growth rate is being used.

Conceptual Evaluation of Micro-finance (MF):

Since independence, the formal banking institutions had ignored the poor due to perceived high risks, high transaction costs involved in small-scale rural lending to a large number of poor households and absence of collateral securities. Against this backdrop of failures of earlier poverty alleviation schemes and the financial institutions to reach the real needy, microfinance schemes using self-help groups (SHGs) were designed and NABARD considered this “SHG-Bank Linkage‟ model as a core strategy for rural development. In the earlier schemes like IRDP, DWCRA, the beneficiaries perceived the loan as grant. The poor did not feel the responsibility of repaying the loan and the bankers only concentrated on disbursement of loan which led to poor recovery and the schemes became non-viable. But microfinance through SHGs has proved the notion wrong and showed that even the poor are bankable. The SHG members thrift, mobilize the savings and invest in microenterprises. The recovery rate was reported around 95 percent. Hence, microfinance though SHGs has evolved as an accepted institutional framework to provide financial services to the poor’s. Further, it is regarded as better mechanism to reduce poverty gradually as against giving one time loan for productive assets which may or may not lead to sustained increase in income (Madheswaran and Dharmadhikary, 2001).

Microfinance in India:

Prof. Mohammad Yunus the Nobel laureate for peace is considered as the pioneer of micro credit who started a women’s group with a loan of equivalent of $27. The demonstrative success of micro credit has introduced the concept with modification in many developing countries including India. The microfinance movement in India was unleashed around the 1970s. Microfinance has gained a lot of significance and momentum in the last decade. India now occupies a significant place and a niche in global microfinance through promotion of the self-help group (SHGs) under SHG-Bank Linkage (SBL) programme and the microfinance Institution (MFI) model. In the most simplistic way it can be termed as “banking for the poor”. In India microfinance has been defined as “provision of thrift, credit and other financial services and products of very small amounts to the poor in rural, semi-urban or urban areas for enabling them to raise their income levels and improve living standards. In this field Self-Employed Women’s Association (SEWA) is the pioneer which was started as a trade union for women in the unorganized sector in 1972. It started first Women’s Bank in India by 2000, it membership has reached to 2099250.

NABARD’S Initiative for Linking:

Some research studies conducted by NABARD in early eighties which revealed that the country has a wide network of rural bank branches, consisting of 33000 rural branches of Commercial Banks, 14500 RRB branches and 92000 Primary Agricultural Cooperative Credit Societies, these branches were implementing poverty alleviation programmes for creation of self-employment opportunities through bank credit for almost two decades, a large number of rural poor were not benefited from the formal banking system. These studies further pointed out that the present banking system, procedures and policies, and deposit and loan products were perhaps not most suited to meet the immediate needs of the very poor. In cases where credit was made available to the poor through special programmes, absence of an integrated savings component and something to fall back upon in case of any adversity was leading to poor repayment performance. The problem was further compounded as the beneficiaries refused to distinguish between state subsidy support and bank credit. The political expediency for removing poverty at a stroke was putting resources for running micro-enterprises in the hands of the poor without nurturing them to handle such resources. The high cost of appraisal and monitoring meant compromise on appraisal and supervision, leading to poor repayments of loans. In the absence of institutional support, the poor continued to approach intermediaries in the informal credit markets like moneylenders, traders, and whole sellers for meeting their consumption and production needs (Nanda Y.C., 2003). Thus in spite of the huge expansion by the banking sector in terms of rural branches, there were still a very large number of people they bypassed. In 1992, therefore, Nabard began an experiment. It was looking at innovative ways of reaching the banking system to these people. The organization thus started a project on a pilot basis involving the creation of informal structures of self-help groups (SHGs) of people and trying to link them to the banking system. NABARD started with a pilot project of 500 such Self Help Groups (SHGs) (Majumdar 2003). This experiment of NABARD achieved great success to cater to the microcredit need of the rural poor through SHGs. Under the SHGs NABARD ensured that very poor people come together, start saving, start lending to each other, and once they are able to reach a stage that they can Enforce the will of the group on the individual, the banks can start coming into the picture and lending them funds. Today the SHG concept is a resounding success in India and is one of the most successful programmes run by NABARD (Majumdar 2003).

Self Help Groups and its Impact:

Self Help Groups (SHGs) are necessary to overcome exploitation, create confidence for the economic self-reliance of rural poor, particularly among women who are mostly invisible in the social structure. These groups enable them to come together for a common objective and gain strength from each other to deal with exploitation, which they are facing, in several forms. A group becomes the basis for action and change. It also helps building of relationship for mutual trust between the promoting organization and the rural poor to constant contact and genuine efforts. (Singh O. R. 2003). SHG is a small voluntary association of poor people, preferably from the same socio-economic background. The maximum number of members in a SHG should not exceed 20. Group members usually create a common fund by contributing their small savings on a regular basis. Groups evolve flexible systems of working sometimes with the help of (NGOs) and manage pooled resources in a democratic way. Loan requests are considered by groups in periodic meetings and competing claims on limited resources are settled by consensus. The loan amounts are small, frequent for short duration and are mainly for conventional purposes. The rates of interest vary from group to group and the purpose of loan. At periodic meetings, besides collecting money, social and economic issues are also discussed. Defaults are rare due to group pressure and intimate knowledge of the end use of credit (Singh O. R. 2003). The SHG is really a boon in the rural areas which gives financial autonomy to the rural women and make them economically independent (Laxman 2001). The SHGs have become a platform for exchange of experiences and ideas (Tilekar et al 2001). The women have tremendous energies to start their own enterprises given the right opportunities. They have developed abundant self-confidence and self esteem through SHG movement. Not only economic poverty but also social and gender issues can be tackled effectively through this process. (Chiranjeevulu 2003). Although the loan amount is small, it helps in meeting the requirement of the poor. Small amounts of loans coupled with financial discipline ensure that loans are given more frequently and hence credit needs for a variety of purposes and at shorter time intervals can be met. This is a better mechanism to reduce poverty gradually as against one time loan for productive asset, which may or may not lead to sustained increases in income (Madheswaran and Dharmadhikary 2001). Hence micro financing through SHGs is contributing to the development of rural people in a meaningful manner. It is seen that significant changes in the living standards of SHG members have taken place in terms of increase in income levels, assets, savings, borrowing capacity and income generating activities. (Sharma 2001). It has been observed that the overall impact of micro-finance through SHGs is very effective in combating poverty, unemployment and empowerment of women.

NABARD and Self Help Groups:

NABARD has started SHG-Bank Linkage Programme as an Action Research Project in 1989. In February 1992, NABARD launched a Pilot Project linking 500 SHGs with banking systems across the country. NABARD refinance the banks, which lend of SHGs. The movement has gained a significant momentum with 2.24 million SHGs linked with 44362 bank branches of 545 banks in 583 districts across 31 states of the Indian Union and disbursed Rs. 113.98 billion cumulatively. In India, 58 percent of total SHGs are in Southern India mainly in Andhra Pradesh, Tamil Nadu and Karnataka. Only 5 percent of total SHGs are in Northern India. It also provides training support, Grant cum Aid support for micro-credit under its different schemes. Apart from the SHG linkage programme, NABARD also operates a Bulk Lending Scheme for supporting NGO initiatives involving alternative credit delivery mechanism.

Micro finance Progress:

Starting from a modest scale as a pilot in the year 1992 the SHG-Bank linkage programme has turned into a solid structure with more than 79.60 lakh savings-linked Self Help Groups (SHGs) covering over 10.3 crore poor households as on 31 March 2012. The total savings of these SHGs amounted to 6,551.41 crore. The number of credit-linked SHGs under the programme stood at 43.54 lakh (Table 1.1)

Overall Progress under SHG – BLP

Progress of SHGs over period of 4 years from 2008 – 09 to 2011 – 12 is indicated in table 1.2. SHG saving with Banks as on 31^st March has shown positive growth rate both in terms of No. of SHGs and amount except in the year 2011 – 2012 the savings amount has declined negatively that is -6.7 percent. In terms of loan disbursed to SHGs the no: of SHGs declined negatively in 2010 – 11 and 2011 -12. The amount of loans disbursed has also declined negatively in 2011-12 (-13.7%). Loans outstanding against No. of SHGs also declined negatively in 2011 -2012. Over all progress of SHG – BLP is satisfactory over the given time period.

Region – Wise Analysis : Region wise analysis is done in order to look into disparities of GHGs and the saving amount of SHGs. Table 1.3 (a) does the region – wise analysis of savings of SHGs with Banks as on 31^st March over the period 2008 – 09 to 2011 -12. In percentage terms, Southern region has highest no. of SHGs and saving amount. On average no. of SHGs is 46.4 percent and saving amount is 51.8 percent. Next to southern region is eastern region which has on average 20.2 percent SHGs and saving amount 20.3 percent . The average is lowest in case of North Eastern region that is no. of SHGs is 4.27 and saving amount is 1.99 percent

Table 1.3 (b) indicates region- wise loans disbursed during the year. Southern region indicates highest number of SHGs and loans disbursed over a given time period. On average , no. of SHGs is 62.8 percent and loans disbursed are 75.8%. The next region is eastern region having an average of 17.6 percent of SHgs and loand disbursed 10.4 percent. The lowest average is in case of northern region that is 2.81 percent of SHgs and 2.30 percent of loans disbursed.

Table 1.3 (c) indicates region wise bank loan outstanding against SHG as on 31^st March over a given period of time that is 2008 – 09 to 2011 – 12. In terms of loans outstanding against SHGs, the Southern region dominates having average no. of SHgs equal to 54.5 percent and loans outstanding 68.3 percent. The lowest average is in case of north eastern region that is 3.08 percent no. of SHGs and loans outstanding 2.36 percent.

Support to partner agencies/SHPIs: NABARD continued to extend support to NGOs, RRBs, CCBs, Farmers’ Clubs and Individual Rural Volunteers (IRVs) for promoting and nurturing quality SHGs.

Table 1.4. indicates the support given by NABARD to SHPIs ,during 2012-13, grant assistance of 45.62 crore was sanctioned to 514 agencies i.e., NGOs (489), RRBs (10), CCBs (14) and IRVs (1) acting as SHPIs for promoting and credit linking around 97,862 SHGs. The cumulative assistance sanctioned to various agencies was 229.81 crore for promoting 7.74 lakh SHGs. Cumulative assistance of `61.99 crore was released for formation of 4.49 lakh SHGs, of which, 2.83 lakh were credit linked. The NGOs were the most dominant SHPI, forming more than three lakh SHGs.

Table 1.1: Progress of the Microfinance Programme (As on 31 march 2012)

	SHGs(Number in Lakh and Amount in crore)				*MFIs (Amount in crore)**
Particulars	2011 @		2012@		2011#		2012#
	Number	Amount	Number	Amount	Number	Amount	Number	Amount
Loans disbursed during the year	11.96 (2.41)	14,547.73 (2,480.37)	11.48 (2.09)	16,534.77 (2,643.56)	471 (2)	8,448.96 (843.77)	465 (12)	5,205.28 (239.42)
Loans Outstanding	47.87 (12.85)	31,221.16 (7,829.39)	43.54 (12.16)	36,340.00 (8,054.83)	2315 (139)	13,730.62 (3,041.77)	1960 (129)	11,450.35 (1,597.11)
Savings accounts with banks	74.62 (20.22)	7,016.30 (1,817.12)	79.60 (21.23)	6,551.41 (1,395.25)

@; Figures in parantheses indicate the share of SHGs covered under SGSY.

*, Actual number of MFIs provided with bank loans would be lower as several MFIs availed loans from more than one bank/ more than one loan.

#; Figures in parantheses indicate the assistance of SIDBI to MFIs

Table : 1.2 Over all progress under SHG – BLP

Item / Year	2008-2009			2009 - 2010		2010 -2011		2011 - 2012
Item / Year	No. of SHGs	Amount		No. of SHGs	Amount	No. of SHGs	Amount	No. of SHGs	Amount
SHG savings with banks as on 31^st March	61.21 (22.2%)		5545.62 (46.5%)	69.53 (13.6%)	6198.71 (11.8%)	74.62 (7.3%)	7016.30 (13.2%)	79.60 (6.7%)	6551.41 (-6.7%)
Loans Disbursed to SHGs during the year	16.10 (31.1%)		12253.51 (38.5%)	15.87 (-1.4%)	14453.3 (17.9%)	11.96 (-24.6%)	14547.73 (0.01%)	11.48 (-4%)	16534.77 (-13.7%)
Loans outstanding against SHGs as on 31^st March	42.24 (16.5%)		22679.84 (33.41%)	48.51 (14.8%)	28038.28 (23.6%)	47.87 (1.3%)	31221.17 (1.4%)	43.54 (-9.0%)	36340.00 (16.4%)

Table 1.3 (a) Region – wise savings of SHGs with Banks as on 31 March (%)

Item / Year	2008-2009		2009 - 2010		2010 -2011		2011 – 2012		Average
Item / Year	No. of SHGs	Saving Amount	No. of SHGs	Saving Amount	No. of SHGs	Saving Amount	No. of SHGs	Saving Amount	No. of SHGs	Saving Amount
Northern	5.08	4.09	5.05	5.52	4.99	4.68	5.14	3.86	5.07	4.54
Northern Eastern	3.92	1.84	4.20	1.96	4.35	1.86	4.61	2.33	4.27	1.99
Eastern	20.15	28.79	19.76	18.07	20.47	20.07	20.42	14.46	20.2	20.3
Central	11.65	6.97	11.02	8.29	10.53	8.59	10.21	9.37	10.8	8.31
Western	13.01	11.98	13.59	14.95	12.87	11.82	13.34	13.31	13.2	13.0
Southern	46.19	46.32	46.36	51.21	46.76	52.96	46.28	56.68	46.4	51.8
All India	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00

Source: Calculated values

Table 1.3 (b) Region – wise Bank Loan disbursed during the year (%)

Item / Year	2008-2009		2009 - 2010		2010 -2011		2011 – 2012		Average
Item / Year	No. of SHGs	Loans Disbursed	No. of SHGs	Loans Disbursed	No. of SHGs	Loans Disbursed	No. of SHGs	Loans Disbursed	No. of SHGs	Loans Disbursed
Northern	2.65	2.47	2.36	2.12	3.55	2.59	2.68	2.02	2.81	2.30
Northern Eastern	2.21	2.01	3.11	1.98	3.29	2.21	4.44	2.73	3.26	2.23
Eastern	14.72	10.10	17.48	10.66	20.70	11.13	17.53	9.82	17.6	10.4
Central	6.28	6.38	4.91	4.37	4.07	4.17	5.09	4.29	5.08	4.80
Western	7.78	4.77	9.39	4.48	7.68	4.30	8.80	4.55	8.41	4.53
Southern	66.37	74.27	62.75	76.39	60.69	75.59	61.45	76.58	62.8	75.7
All India	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00

Table 1.3 (c) Region – wise Bank Loan outstanding against SHGs as on 31^st March

Item / Year	2008-2009		2009 - 2010		2010 -2011		2011 – 2012		Average
Item / Year	No. of SHGs	Loans outstanding	No. of SHGs	Loans outstanding	No. of SHGs	Loans outstanding	No. of SHGs	Loans outstanding	No. of SHGs	Loans outstanding
Northern	3.94	2.99	3.14	2.91	4.05	6.42	4.87	3.24	4.00	3.89
Northern Eastern	2.78	2.07	2.76	2.40	3.13	2.23	3.66	2.73	3.08	2.36
Eastern	22.09	13.3	21.18	13.18	23.09	13.46	22.63	12.74	22.3	13.2
Central	7.86	9.02	10.26	8.78	7.49	7.58	8.09	7.65	8.43	8.26
Western	9.32	6.84	9.43	4.88	6.62	3.99	6.65	3.75	8.01	4.87
Southern	53.99	65.75	53.22	67.84	56.54	69.58	54.09	69.88	54.5	68.3
All India	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00

Table 1.4 : Grant Assistance extended to various partners of SHG – Bank Linkage Programme (as on 31 March 2013)

	Sanctions during 2012 – 2013			Cumulative Sanctions			Cumulative Progress
Agency
	No.	Amt.	No. of SHG	No.	Amt.	No. of SHG	Amt released	SHG formed	SHG credit linked
DCCB	14	216.35	6,075	140	1,074.16	77,770	303.34	51,996	34,516
RRB	10	339.13	10,445	146	881.32	63,950	209.13	56,807	37,534
NGO	489	3,654.98	56,342	4,114	19,855	5,56,251	5,513.87	3,08,374	1,93,684
FC	0	0	0	811	84.67	7,814	75.66	17,473	9,819
IRVs	1	351.81	25,000	79	1,085	68,223	97.93	14,018	7,218
Total	514	4,562.27	97,862	5,290	22,981.11	7,73,648	6,199.93	4,48,668	2,82,836

Restrategising SHG promotion activities: Despite the phenomenal growth of the programme as a whole, a certain degree of skewness is observed in favour of the southern States. Large sections of rural population from States like Assam, Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Odisha, Rajasthan, Uttar Pradesh and West Bengal are yet to be covered under the Programme. Even in respect of States, which have achieved relatively greater degree of intensity in promotion of SHGs, regional imbalances are observed within blocks/districts. Therefore, for ensuring a more balanced growth of the programme, the potential for 51 promotion of SHGs is being mapped taking district as the basic unit for planning NABARD carried forward its guiding role in the microfinance programme during 2012-13 by taking a host of new initiatives and consolidating some of the already operational interventions. NABARD expended a sum of 50.44 crore during 2012- 13 from Micro Finance Development and Equity Fund and Women Self Help Group Development Fund for various micro finance related activities such as formation and linkage of SHGs through SHPIs, training and capacity building of stakeholders, livelihood promotion, documentation and awareness, etc.

Challenges in way of SHGs: The Indian microfinance sector has seen unprecedented growth in this decade. The growing scale has brought with its own set of challenges. Some of the key challenges are :

Widening Outreach: As the fundamental principle of microfinance is serving a large number of clients. It is very important to analyse if micro finance service providers are reaching to those most in need and those not serviced by formal financial institutions. The regional imbalance in the spread of SHGs has to be reduced.

Financial Illiteracy: One of the major obstacle in the growth of the microfinance sector is the financial illiteracy of the people. This creates difficulty in creating awareness about the SHG- bank linkage and thus the poor illiterates are left out.

Credit Risk: There is danger that borrowers are not able or not willing to repay their loans on time. So mindset of the people needs to be changed.

Cost Recovery and Sustainability: It is important for banks to carefully work out their actual costs for SHG lending. While the SHG portfolio is often only a small part of the total bank lending and since the portfolio quality is good, it may be possible to reduce interest rates while ensuring recovery of costs. It is an accepted fact that banks will base their lending rate decisions on three important criteria – their cost of funds, transaction costs and the required spreads.

Monitoring, Capacity-building and Synergy Issues: The general reports on the progress of SHGs show statistics of growth and spread of SHGs without providing details on the development process and internal health of SHGs. The system for monitoring of SHGs and compiling data on the health indicators need to be built up in order to ensure long term sustainability of the groups

Legal Status for SHGs: As of now, SHGs are operating as thrift and credit groups. They may, in future, evolve to a higher level of commercial enterprise. The question of providing a simplified legal status to the SHGs may have to be examined.

Recommendations

· There exists huge demand supply gap. Diverse channels are needed to get diverse financial services into the hands of diverse range of people who are currently excluded.

· There should be more emphasis on encouraging the groups into some entrepreneurial activities after they get training through different programmes conducted by NABARD.

· Government should focus on organizing small fairs at regular intervals to help market the goods produced by SHG members.

· Proper monitoring and regulatory framework should be initiated which put check on the performance of SHGs and will encourage SHGs to abide by proper code of conduct and work more efficiently.

· Use of technological innovations in SHGs will help to reduce operating costs and will make the entire system more transparent and efficient.

· Integrated network of banks, government and semi governmental and non governmental organizations, social workers are needed to make SHG bank Linkage a success.

CONCLUSION:

The SHG Bank linkage programme implemented during the last two decades has significantly contributed in terms of outreach of financial services to unreached people thus far. The review of the performance of the programme reveals that there has been a significant improvement in terms of socioeconomic empowerment of rural poor, particularly of women, across states in India. However, certain challenges/issues remain to be addressed fully. Some of these are: (a) Outreach challenges— whether all very poor or hard core poor identified and included financially under SBLP? (b) Quality and sustainability of Self-help Groups as a grassroots level institutions for financial inclusion; (c) Graduation of groups from consumption to production to investment credit or in other words, graduation to microenterprise level poses severe challenges relating to entrepreneurship development, appropriate technology and product design and marketing of rural products. Some of these concerns hopefully will be taken care of in SHG-2 and NRLM; (d) Even after 20 years of SBLP, bankers are yet to own SHGs as their valued customers whether it is through SBLP or government supported programmes like SGSY; and (e ) The declining trend in the disbursement of loan to SHGs by financial institutions should also be viewed seriously and attempt should be made to reverse this trend by some policy or non-policy interventions including that of providing some incentives to the bankers engaged directly/indirectly in promoting and financing of SHGs.

Prof. Malcolm Harper reiterated that, being the leader of the SHG movement, NABARD has a greater role in taking the movement to the next phase with a reengineered vision of the original SHG model emphasizing savings as well as credit, with features such as smaller joint liability groups for larger borrowers, cash credit limit to replace term loans and offering SHG members a ‘ladder’ to genuine financial inclusion through individual full service bank accounts.

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Received on 15.01.2014 Modified on 25.01.2014

Asian J. Management 5(2): April-June, 2014 page 173-178