Women's lack of economic empowerment not only impedes growth and poverty reduction, but also negatively impacts education and health outcomes for children. Thus, it is extremely important to ensure that women are economically empowered.
Financial inclusion may be defined as the process of ensuring access to financial services and timely and adequate credit - where needed by vulnerable groups, such as women - at an affordable cost.
Self-help Group (SHG)-Bank Linkage Program was launched in 1992 as a flagship program by the country's National Bank for Agriculture and Rural Development. The objective is to meet the financial needs of the poor by linking SHGs with the formal credit agencies. Financial inclusion of India's women can be best ensured through SHGs.