"Microfinance And Sustainable Development: A Socio-Environmental Study Of Shgs In Bangalore City"

Abstract

This study explores the portion of Self-Help Groups in promoting financial inclusion and economic-empowerment through microfinance in Bangalore, India. It assesses how SHG participation impacts on financial literacy, income generation and poverty reduction, within the community. The survey was done with 430 SHG members and stakeholders to understand their experiences and outcomes focusing on the ways SHGs contribute to long-term economic growth financial stability and improved livelihoods. The findings highlight that SHGs play a good role in fostering financial self-management and entrepreneurship particularly among women who express high satisfaction with microfinance services such as loans and savings. However, the study also highlights key challenges, including limited participation from younger individuals and the need for tailored financial literacy programs that address diverse educational backgrounds. The study expresses that expanding and sustaining SHGs is essential for strengthening the local economy and enhancing financial inclusion in Bangalore.