Prime Minister Narendra Modi has said that he aims to make 20 million women associated with self-help groups (SHGs) 'Lakhpati Didis' in the next three years.

Prime Minister Narendra Modi said this during a virtual interaction with beneficiaries of various government programs under the ongoing 'Vikas Bharat Sankalp Yatra' in Dewas district of Madhya Pradesh.
'Vikas Bharat Sankalp Yatra', launched on 15 November is a nationwide program to reach out to citizens with the Centre's welfare programmes.

Lakhpati Didi Scheme:

The scheme is in line with the broader mission of poverty alleviation and economic empowerment.
Under this scheme, skill training will be provided to women so that they can earn more than Rs 1 lakh per year.

Features:

Drones will be made available to women self-help groups (SHGs) for agricultural activities.
- The initiative aims to leverage technology to transform the agricultural landscape while empowering women in rural communities.
- Around 15,000 women self-help groups will be given training in the operation and repair of drones.
- Through this training, women will get advanced skills as well as new opportunities for income generation.
Under this scheme, women will be trained in LED bulb-making, plumbing and other skills.

Self Help Groups (SHGs):

Self Help Group (SHG) is an informal association of people who come together voluntarily to improve their living conditions.
About 10 crore sisters and daughters have joined SHGs in the country.

Membership Criteria -

Self Help Groups (SHGs) are defined by NABARD as small informal groups of 10-20 individuals who mainly come from similar social and economic background living in the same village or locality.
Minimum 5 members are required to form SHG in hilly areas, tribal dominated areas.

Loan -

According to NABARD, banks can provide savings-linked loans to SHGs between 1:1 and 1:4 savings-loan ratio. For example, if the average savings of the SHG is Rs 10,000, then the loan amount can be Rs 10,000 or a maximum of Rs 40,000.
In the case of mature SHGs, the maximum amount of loan is to be decided by the banks.
According to NABARD, the loan can be provided for a period of 3 to 5 years based on the estimated savings of the SHG.

To promote saving habits and thrift -

To promote saving habits and thrift among the members, they are required to regularly contribute a small amount as savings to the group.
Where SHG members are saving regularly and maintaining proper records, they can open savings accounts in banks.

Muhammad Yunus: Pioneer in microfinance

Muhammad Yunus of Bangladesh is considered a pioneer of microfinance in the world.
He was awarded the Nobel Peace Prize in 2006.
Through his non-profit organisation, Grameen Bank he started to provide small loans from the year 1983.