Learning to manage the finances

Financial and functional literacy is a strong tool to enhance the capacity of Self-Help Groups (SHGs) at the rural level. Apart from group savings, it helps in generating mutual financial profits for the members as well as supports the needs of the families. Under the Holistic Rural Development Programme (HRDP) supported by HDFC Bank Parivartan, women from SHGs in Khandwa, Madhya Pradesh have undergone a step-by-step orientation on bookkeeping and banking operations. Difficult financial procedures were simplified and explained through games. A total of 37 SHGs have been reached out since July 2020 and 19 of them have been successfully linked with the Sustainable Livelihood Initiative of HDFC Bank Ltd. where they availed an average credit line of 1.25 Lakhs while seven have been linked with MPSRLM (Madhya Pradesh State Rural Livelihoods Mission).