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Poverty and underemployment are two undesirable phrases that plague many emerging countries. Financial independence is one of the most basic necessities of lower sections of society in order to achieve faster socioeconomic growth. The purpose of this research is to investigate the role of entrepreneurship in the context of self-help groups (SHGs). In cities and rural areas, a survey of chosen respondents' social, psychological, and economic effects of SHGs was undertaken. For the purposes of this study, all primary and secondary data were used.