Pls summaries ingenious self help group in cooperative
Answers
Blooming of self help groups nurtured by Naman Sewa Samiti into a cooperative bank is an inspiring
journey of those living on fringes working towards collective wellbeing. Forbidden by formal financial
institutions and charged hefty interests rates by local moneylenders, the villagers had been living in
penury. Today several labourers own farms, waiters have become eatery owners and women are
now running their own shops while their children attain better education and wellbeing.
From modest people who saved Rs 20
every month, the members are now the stakeholders in a
bank which has Rs 27 lakh in savings. Prosperity has been passed on to the next in line as the bank
has disbursed Rs 25 lakh of loan to those in need. There are no full stops to the chain reaction which
started a decade back.
Collaborations with nationalised banks and government departments have further amplified the
benefits that cooperative members are able to avail whether it is formal credit or training
programmes on skill enhancement. The cooperative also acts as an information centre on
government policies even for non-members. Thus, instead of being an exclusive asset of the
members, the cooperative has emerged as a public service provider.