Microcredit

Introduction  |  Objectives  |  Achievements  |  Future Plans


Achievements
Bhasha established micro enterprises for generating supplementary sources of income to check migration. The minimum guiding principle for the micro enterprise is that a new income generating activity should not lead to the adivasi’s migration or competition with the urban centers. Therefore the focus has been more on para-agricultural or value-added rural activities, such as honey cultivation, fruit plantation and specialized gum-tree plantation. In 2004 training for women in tailoring was started.

During the year training in SHG management and operations was imparted to representatives of the micro-credit groups.

A comprehensive exercise was undertaken during the year to grade the SHGs formed under the project. On the basis of this, 100 groups were chosen for forming the first Micro Finance Federation. 94 of the SHGs decided to join the Federation and remaining six SHGs deferred the decision so that they could wait and study the working of the Federation. The Federation will be regularized as a Society registered under the Bombay Societies Act.

Of the 21 Founder Trustees of the Federation, 19 are women and 2 are men. Similarly, 19 are adivasis and 2 are non adivasi villagers. The Federation will decide upon merger of their separate SHG accounts with Banks after observing the conduct of the new entity for six months. Thus, Bhasha’s Micro Finance and Micro Enterprise Project has taken a major step forward from formation of isolated SHGs to the formation of grassroots based self managed Micro Finance Institution (MFI).