Microfinance and SHGs — Mains Questions

Critically analyze the evolution of microfinance in India, highlighting the role of both Self Help Groups (SHGs) and Microfinance Institutions (MFIs) in achieving financial inclusion. What challenges persist, and how has the regulatory framework adapted?

The SHG-Bank Linkage Program (SBLP) has been hailed as a successful model for poverty alleviation and women's empowerment. Examine its key features and critically evaluate its effectiveness, citing relevant data and case studies. What are the lessons learned from successful state models?

Discuss the impact of the Andhra Pradesh Microfinance Crisis (2010) on the regulatory framework for microfinance in India. How has the sector evolved since then, particularly with the introduction of the Harmonized Regulatory Framework (2022)?