Explain the roles and responsibilities of self-help groups.

Self-help groups (SHGs) are small, homogenous voluntary organizations formed by individuals who come together to address shared socioeconomic challenges. These groups primarily aim to enhance the living conditions and financial status of their members by pooling resources, sharing experiences, and providing mutual support. The concept of SHGs is particularly significant in developing economies where access to financial and social resources is limited. By encouraging collective action, these groups empower their members to take control of their livelihoods and contribute to local development.

Roles of Self-Help Groups:

1. Promoting Financial Inclusion and Savings: One of the fundamental roles of SHGs is to foster financial inclusion by encouraging members to save regularly. The pooled savings become a source of capital that the group can use to provide small loans to its members at affordable interest rates. This helps members access credit without relying on informal money lenders who often charge exorbitant interest rates. These savings also build trust among members and ensure collective financial stability.

2. Microfinance and Credit Provision: SHGs play a crucial role in providing microfinance solutions ____ _________ __________ ______ _____.
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