Keeping in view the Government of India's mission for creating a digital India, NABARD launched a project for digitisation of all Self Help Group (SHG) in the country. The project is being implemented in 100 districts across the country.
Aims and Objectives:
The project aims at digitisation of all the SHG accounts to bring SHG members under the fold of Financial Inclusion thereby helping them access wider range of financial services together with increasing the bankers' comfort in credit appraisal and linkage by way of:
Integrating SHG members with the national Financial Inclusion agenda;
Improving the quality of interface between SHG members and Banks for efficient and hassle free delivery of banking services by using the available technology;
Facilitate convergence of delivery system with SHGs using Aadhaar linked identity.
The need of digitisation of records of SHGs has been felt for quite some time due to patchy and delay in maintenance of books of accounts. Transparent and proper maintenance of records of SHGs will facilitate in nurturing and strengthening of SHGs. It is also felt that digital empowerment will help in bringing SHGs on a common web based e-platform by making book keeping easy for low literacy clients. This will help in promoting national agenda of Financial Inclusion and pave the way of credibility of SHG data which can later be used by Credit Bureaus to reduce the issues related to multiple financing by banks.
Attributes of the project:
Components of the Project: