SHG FULL FORM
SHG minimum member is 10.
SHG maximum member is 20.
Self Help Groups promote the small savings among there members and such savings deposited in SHGs saving bank account maintained in the bank. SHGs are basically saving oriented groups. Bank decides borrowing power of SHGs on the basis of there savings.
Documents
required for SHGs to open the Savings Bank account in the Bank:
The following documents are required to open Saving
Bank Account.
1)
KYC Documents.
2)
Resolution of the SHG for
opening SB account with bank.
3)
Passport size colour photo.
4)
Account opening form.
SHGs Saving Account is opened with the bank within
two months of the formation of Self Help Group. PAN card is not mandatory to open SHG Saving
Bank Account. Registration of SHG is not mandatory to open SB account with the
bank. SHG account is operated by two members of the group. They will sign
behalf of the SHG group. All members KYC not required to open SB account.
BANK LOAN
ELIGIBILITY CRITERIA FOR SELF HELF GROUP:
1)
SHG should have Saving Bank
Account with the Bank.
2)
SHG should be active from last
6 months as per SHG books of account.
3)
SHG should be practicing
Regular Meetings, Regular Savings, Regular Inter-loaning, Timely repayment and
up to date books of accounts.
4)
Qualified as per the Grading
norms fixed by NABARD.
Conclusion: