Self Help Group (SHG) model of micro credit in India has been considered as a new panacea for women empowerment and reduction of poverty. Thanks to the initiative taken by Reserve Bank of India, NABARD and the effort of several Non-Governmental Organizations (NGOs) as well as the Governments of various states, over the years there is a tremendous increase in the number of SHGs in India. But the number varies from region to region and state to state. This variation is also true for the states in the achievement of poverty alleviation and women empowerment. In this study authors attempted to analyse the relationship between poverty, women empowerment and SHGs based on the ranking of some major states in terms of the number of poor people, level of women empowerment and the number of SHGs with the help of NABARD and NFHS-3 data. The outcome of this study shows that there is a relationship between poverty, women empowerment and SHGs.