General Knowledge · General Awareness
A regional bank has been tasked with implementing the SHG-Bank Linkage Programme in a district with a high number of unregistered Self-Help Groups (SHGs). The bank is reviewing the regulatory requirements for these unregistered SHGs to open savings accounts and access credit under the SHG-BLP. What does the SHG-Bank Linkage Programme stipulate regarding the eligibility of unregistered SHGs to open savings accounts and access loans?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Unregistered SHGs are restricted to accessing loans only if they are in the formal sector.
- 2Unregistered SHGs must be certified by local authorities before they can access any financial products from the bank.
- 3Unregistered SHGs can open savings accounts with banks and access loans under the scheme, as long as they promote savings habits among members.✓
- 4Unregistered SHGs are not eligible to open savings accounts or access loans under the SHG-BLP unless they register first.
Correct answer
Unregistered SHGs can open savings accounts with banks and access loans under the scheme, as long as they promote savings habits among members.
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