Self-Help Groups (SHGs) represent collectives or community-based organisations, wherein individuals unite voluntarily with the aim of addressing common socio-economic issues, improving their livelihoods and enhancing their quality of life. Typically originating as small assemblies of rural individuals, SHGs emerge when community members, recognizing shared challenges, opt to unite voluntarily to uplift their socio-economic circumstances. These groups may take on either a formal, registered structure or remain informal. As defined by NABARD, SHGs consist of 20 or fewer individuals from similar socio-economic backgrounds who converge to tackle common issues by forming their own support networks. Presently, India boasts approximately 83 lakh SHGs, primarily comprising members from local villages. The idea encompasses the values of saving, lending, and mutual assistance, with SHGs typically operating under self-regulation and peer oversight, promoting financial inclusivity. These groups play a significant role in institutionalizing women’s economic autonomy. Typically, SHGs operate informally and voluntarily. In the early 1990s, banks were authorized to establish savings accounts for SHGs, facilitating economic empowerment. Self-Help Groups are voluntary assemblies aimed at achieving shared objectives, uniting individuals of similar social and economic backgrounds, or traditional occupations to pool and administer resources for mutual benefit. The existence of robust community networks within Indian villages is a key factor in facilitating credit connections in rural regions, fostering the growth of SHGs. These groups serve as pivotal avenues for providing financial access to impoverished communities, thus significantly contributing to poverty reduction efforts. Additionally, SHGs play a pivotal role in empowering women from financially disadvantaged backgrounds by facilitating the development of social capital. Enhancing financial freedom through self-employment arenas not only contributes to economic empowerment but also leads to advancements in other developmental aspects, including literacy rates, healthcare quality, and family planning initiatives.