Microfinance has evolved over the past quarter century across India into various operating forms and to a varying degree of success. One such form of microfinance has been the development of the Self Help Groups. Based on the concept of "self-help," women have formed small groups of ten to twenty and operate the business model of savings-first whereby the members' savings are used to finance loans. Results from these Self Help Groups (SHGs) are promising and have become a focus of intense examination as it is proving to be an effective method of poverty reduction. SHGs have helped and have been helping the poor especially the rural poor families in maximum number. The paper makes some observations on functioning and growth of Microfinance cum SHGs for the period of 1997 to 2007 towards providing financial supports to the rural poor and women for improving their livelihoods.
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