Case Study on Nano Finance
“We are no longer dependent on anyone. Rather we are
contributing to family income through our small businesses.”
These are the versions of Laxmi, Rukmini and Pravasini,
the nano finance beneficiaries.
Contrary to the traditional practice when a mother stays with her
son’s family, Laxmi Patnaik of Piligrim Road Dasa Sahi stays
with her daughter and son-in-law, as she has no son. But she is
not a burden to them, she is rather an asset. She sells vegetables
at the roadside and makes a substantial contribution to the family.
Now her business is profitable due to the small monetary help
(nano finance) besides vegetable vending, she has a small shop
which sells Chocolates, toffees, Chips and other small things in
front of her house. She is quite happy with her small business.
Rukmani Das a tea seller has a shop in her slum, Piligrim road in Cuttack. Her business was not gaining momentum due to lack of money. Her husband had no support for
her and she was desperately looking after loans.
She didn’t want loan from MFIS because they take
huge interest which is quite unaffordable to poor women.
When IIEC introduced the nano finance concept
(An US based organization Aamara Biswass supports
this scheme she readily agreed to avail because it
was interest free. Nano means small and an amount
of Rs 1000/- is given to the beneficiary after knowing
her background and sustainability of the business.
The interesting part of the schem e is that no interest is
levied and the amount will be collected within one year.
No hard and fast rules are there for repayment. Now
Rukmini is slowly making progress in her tea stall with
a profit of Rs. 700/- per month. she is quite happy now
and determined to expand her business through nano
Pravasini Kar, also a resident of Piligrimroad Dasa Sahi has a stationery shop in her slum. Under Samaveshi Sheher -1 she was trained in Agarbati making, packaging and marketing. She is an enterprising women and always wants to be independent. She is availing the benefit of Nano finance only for Agarbati. With the amount of Rs.1000/- she purchases raw agarbati from nearby wholesale market and after applying scent and packing sells those in the stationery shop. The profit margin of her shop is increasing gradually. Now she is making a profit of Rs.700/- per month instead of Rs.400/- previously. Now she is quite happy that her profit margin is increasing through nano finance taken in the month of March 2018. She also repaid back her principal. She is quite happy that now her business is sustainable.
These are the stories of three women beneficiaries of nano finance. In total 65 women have received loans under nano finance from our project area since its inception on 8th March 2018 in International Women’s Day.
We are quite hopeful to help the underprivileged slum women through nano finance. This definitely will pave way for reducing occupational vulnerability.
Income from Waste - A Small Initiative
“I am very happy that now I am economically independent and
contributing to my family income”. Kohinoor Bibi shared these
words happily with all.
Kohinoor, a widow aged 35 lives in Malgodown Nuasahi slum,
ward-38 under Cuttack Municipal Corporation with three children.
She opened a small grocery shop and with little income she tried
to feed her children. She always thinks to earn more so that she
can save money and get her daughters married. When she came
to know about nano finance scheme, she showed keen interest to
avail the interest free loan of Rs. 1000/- . With a small investment,
now she is earning Rs. 7000/- per month. Though a poor slum
woman, Kohinoor’s efforts are praise worthy.
We see tender coconut vendors in road side in every city. After
drinking the coconut water usually the empty coconut is thrown
away and thus they are piled up. Kohinoor collects these empty
coconut from different vendors and dries up under the sun. These
dried coconut are ripped and crushed which are used by small
road side hotels to ignite fire for cooking. Previously she was
collecting these in hard driven trolleys and the collection was less.
And with the nano loan she is collecting more with trolley auto.
She sells the dried and ripped coconut stuff at R. 300/- per sack.
Previously she was selling 40 sacks per month and after all
expenditure profit stood at Rs. 4000/-. While she spent more in
trolley with less coconut, now is less with trolley auto and more
coconut raising the quantum.
Her sale stands at 80 sacks per month and after meeting expenditure the profit stands at Rs.7000/-. She is now very happy. Her life is completely changed with a small innovative initiative.
Passion and Women Empowerment
“I am quite happy that at last my passion pays”- says Rajani Das happily.
Rajani lives in Piligrim Road Dasa Sahi, Ward no -38,
Cuttack Municipal Corporation. She is a lady with
leadership qualities and every body fondly calls her
Rajani Apa. She is the President of CBO formed under
Samaveshi Sheher-I. She has a grocery shop in the
ward which caters to the need of the slum dwellers of
her area. Besides managing her shop, she looks after
the holistic development of her locality. With her extremely
busy schedule, she always pines for her passion i.e
tailoring.In her young days she had taken vocational training
on tailoring. Due to her competency, she had proved
herself as a master trainer of CMC. By the course of
time, her responsibility grew up and she could not find
time to pursue her passion. She wanted to have her
own tailoring shop but money was a constraint.
When she came to know about nano loan, her passion
again came into the forefront and she decided to avail
the benefit. She bought a secondhand sewing machine
and bought necessary articles required for stitching from
the nano loan. Now she has opened a small tailoring
shop in her ward and trains young girls from her area.
After training they can make some income from it.
Now she is very happy that she makes herself able to
pursue her passion and it will make way for other girls
and women to earn their livelihood. Her mission is now
not to make profit but to help the women stand on their
Collective Effort – Solution to Every Problem
“Now we are getting water with a clean surrounding and there is no more
apprehension of diseases”- these words are shared by the community of
Piligrim Road Dasa Sahi, Ward no-38.
There are 4 nos. tubewells in the ward constructed by Cuttack
Municipal Corporation in 2015 by the effort of CBO. The CBO was formed
under Samaveshi Sheher-I. At that time with our facilitation the CBO
approached the local authority for construction of cemented floor around
the tubewells. But it was not materialized by the local authority in spite of
CBO’s consistent request. Gradually garbages were scatter around the
tubewells. The small dirty particles mingled with the water and the slum
community used that water. by using the contaminated water, they s
uffered from various water borne and skin diseases. The CBO members
filed several applications. The SS team of Cuttack met the Corporator
and the Deputy Commissioner (slum improvement) along with the CBO
members. After constant pursuance the problem was solved now. The
CMC constructed cemented floor around the tubewells. The community is
very happy that now they will not use contaminated water and there will
be no apprehension of diseases.
Power of CBO
“We are now very happy for the cemented road in our area”
said Basanti Reddy of Malgodown Nua Sahi, Ward no.-38.
The residents of Malgodown were facing difficulties due to
the mud road in their area. During rainy season, the road
was blocked due to water logging and it was affecting their
daily routine and livelihood activities. The CBO formed under
Samaveshi Sheher-I put forth their demand for construction
of cemented road to the CMC. Several meetings were held
with the local authority to solve their problem. After consistent
effort by the CBO and facilitated by IIEC, their demand is
fulfilled. A cemented road was constructed in their area are
now the slum dwellers are very happy. The community
thanked the CBO formed under SS and quite hopeful to solve
other issues pertaining to their area.
Smile of Labanya Mausi
“My smile is my greatest strength” says Labanya Mausi of Baurisahi. As a
member of the CBO, at the age of 62 she is quite active and takes part in
each and every activity of her locality. Despite of her age and with the help
of Samaveshi Shehar project, she took training on different vocations like
Agarbati and Paperbag (different sizes) from Khadi & Village Industries
Commission, Govt. of India. She is also a beneficiary of Nano finance and
uses the nano loan for m aking paper bags in different sizes and shapes.
She sells those bags to different small shops and earns money
(Rs.100/- per day) which is enough for her and also repays the loan in
every month. Her husband is the main pillar of support in carrying out her
business and he always makes her wife happy with a smiling face. Age is
not a barrier for the couple and she is a role model in her area.
Dream of Youth Group
“We will create a clean environment for our locality”. This is the version of Mahaveer Youth Group of Piligrim Road Dasa Sahi. The women of Piligrim road dasa sahi are very active and they play a major role in the development of their area. The CBO (formed under Samaveshi Shehar) members mainly the women now influence the young boys of their area to form a youth group to take the lead role to make the slum clean and green. With the influence of the CBO members and Samaveshi Shehar, a youth group is formed with 50 members in the name of Mahaveer Sangathan. In every week this group is cleaning their area with commitment and dedication. The denizens of Piligrim road dasa sahi are now happy that the youth, the backbone of the society creates an example.