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Role of Digitization in Financial Inclusion of Self- Help Groups in India
Subject area: Arts, Social Sciences and Humanities · Area of research: Economics
Abstract
Enhancing the financial inclusion of self-help groups (SHGs) has been made easier by digitization, especially in developing nations. This study examines how digitalization plays a critical role in enhancing SHGs' access to financial services, with a particular emphasis on programs like E-Shakti, Aajeevika, and Stree Nidhi. SHGs can increase member financial knowledge, improve transparency, and streamline operations by utilizing digital platforms. In order to evaluate the effects of digital technologies on SHG performance, financial behavior, and overall economic empowerment, the study examines a variety of case studies and empirical data. Results show that digitization closes the gap between SHGs and formal financial institutions while also enabling improved record-keeping and accountability. But there are still a lot of obstacles to overcome, such poor infrastructure, opposition to change, and digital literacy.
Keywords
Digitization, Self-Help Groups, Financial Inclusion, Empowerment.
References
[1] Anderson, C. L., & Kegels, C. (2018). Digital Financial Inclusion: Implications for Customers, Regulators, Supervisors, and Standard-Setting Bodies. World Bank.
[2] Digital Green. (2018). Using Digital Platforms for Agricultural Development.
[3] Harper, M. (2002). Self-Help Groups and Grameen Bank Groups: What Are the Differences? ITDG Publishing.
[4] Ministry of Rural Development, Government of India. (2020). Aajeevika - National Rural Livelihoods Mission (NRLM).
[5] National Bank for Agriculture and Rural Development (NABARD). (2015). E-Shakti: Digitization of Self-Help Groups.
[6] Reserve Bank of India. (2020). Report on Financial Inclusion.
[7] Stree Nidhi Credit Cooperative Federation Limited. (2020). Annual Report.
[8] World Bank. (2017). Digital Dividends: World Development Report. World Bank Publications.
How to cite this paper
@article{1706898,
author = {Ramya L P, Dr. Shripathi Kalluraya P},
title = {Role of Digitization in Financial Inclusion of Self- Help Groups in India},
journal = {Iconic Research And Engineering Journals},
year = {2025},
volume = {8},
number = {7},
pages = {217-223},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1706898.pdf},
abstract = {Enhancing the financial inclusion of self-help groups (SHGs) has been made easier by digitization, especially in developing nations. This study examines how digitalization plays a critical role in enhancing SHGs' access to financial services, with a particular emphasis on programs like E-Shakti, Aajeevika, and Stree Nidhi. SHGs can increase member financial knowledge, improve transparency, and streamline operations by utilizing digital platforms. In order to evaluate the effects of digital technologies on SHG performance, financial behavior, and overall economic empowerment, the study examines a variety of case studies and empirical data. Results show that digitization closes the gap between SHGs and formal financial institutions while also enabling improved record-keeping and accountability. But there are still a lot of obstacles to overcome, such poor infrastructure, opposition to change, and digital literacy.},
keywords = {Digitization, Self-Help Groups, Financial Inclusion, Empowerment.},
month = {January},
}