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Goal
To facilitate savings and affordable credit
for the slum residents and move towards institutionalization for
increased reach and accessibility
Introduction and Background
The
program started in 1994 working with two CBOs Sakhi Mahila Mandal and
Ekta Yuvak Mandal. Although it started working since 1994 Microfinance
(MFI) got structured shape in the year 2002 with the registration of the
two Cooperatives. The growth and success in the microfinance program has
led SAATH to think about reaching more vulnerable groups in the urban
Ahmedabad area. Recently Sakhi Co-operative has got the permission to
operate in 20 wards of Ahmedabad. Under the current expansion both the
Co-operatives are to be merged, presently in process. There are more than
8500 members associated with these micro finance groups and having saving
portfolio of 1.1 Crore and Loan Borrowers are 3500.
Product and Services:
SAVINGS
There are two
kinds of savings provided by the bank:
1)
Compulsory Savings
This
kind of savings requires the member of the bank to compulsorily open this
savings account. The member needs to Compulsory Deposit of Rs. 100/- per
month. It encourages the member to have a regular saving practice.
2)
Voluntary Savings
This
kind of savings in completely voluntary by nature. It depends totally on
the client if they want to do it or not. They can save any amount of
money in this account as there is no minimum or maximum limit applicable.
LOANS
1. Consumption
Loan
It
is basically a need based loan. This loan can be provided for various
purposes such as health, education, social functions, household needs and
requirements.
2. Productive
Loan
This
loan is basically given for business purposes such as bulk purchase of
items, working capital, etc. The loan is not given for starting a new
business venture.
3. Asset
Creation Loan
This
loan is given for creation of an asset. It could be for purposes such as
repairing and extension of house, debt redemption,
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