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date: 12 December 2019

Abstract and Keywords

The microfinance sector in Indian has followed two different models: the microfinance institute (MFI) model and the self-help-group (SHG) linkage model. The MFIs mostly follow the Grameen model, with some variations, whereas the SHG-linkage model has some interesting features typically not found in other microfinance institutions. This article focuses not only on the SHG-linkage program but also on its role as a conduit for channeling credit and on the role played by NGOs in this process. It provides a brief overview of the genesis and spread of the SHG-linkage program, and examines the social impact of microfinance, especially in the Indian (and Bangladeshi) context. It builds a simple formal model capable of comparing the efficiency implications of the SHG-linkage approach vis-a-vis the Grameen. Finally, the article concludes with some suggestions for future research.

Keywords: self-help group, microfinance, SHG-linkage model, NGOs, credit channeling, efficiency implications

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