The findings of the present study show that SHGs have the potential to tackle poverty and can be an important weapon for poverty alleviation in West Singhbhum district of Jharkhand. SHG-Bank Linkage Program is making head way in its efforts to reduce poverty and empowering the underprivileged tribes especially in the study area. Microfinance through the networks of cooperatives, commercials, regional rural banks, NABARD and NGOs has also been largely supply-driven and credit approach-oriented. Microfinance institutions other than banks are engaged in the provision of financial services to the poor. The impact of Self-Help Groups Banking Linkage Programme has been effective in making positive social changes to the members irrespective of the direct borrowers of the micro credit institutions. SHG-BLP provides considerable social protection and income in maximizing social and financial returns. The promotion of micro generation activities for poor tribes are perceived as a powerful medium to resolve several socio-economic problems such as reduction in poverty, provision of goods and services appropriate to local needs, assets creation, redistribution of income and opportunities in the community etc.

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Keywords: Microfinance, SHGs, NGOs, SHG-BLP, Poverty Alleviation.