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  Financial Services
 

The multi pronged approach of SUEB for ‘Poverty Alleviation’ is focused on providing  financial services to its members.

Financial Inclusion

Earlier the poor were considered ‘Un-bankable’. Bankers hesitated to allow them to open bank accounts because their transactions were very small. The Self Help Group Movement and the Micro Finance Activities have proved that the poor can be good customers/clients for banks.

Many poor people, especially women, even today, hesitate to enter a bank. We encourage all members to open bank accounts so that they can save money for the rainy days and for the future. Once they become familiar with the banks, they can get individual loans for agriculture, education, business enterprises, vehicles, housing etc. This motivates them to limit their unnecessary expenses and begin to think of the economic growth of their family.

All members have been motivated to join the Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme announced by the Government on August 28th 2014.

Livelihood Promotion and Loans 

SUEB practices the ‘Pro-Poor Approach’ which aims at ‘Poverty-Alleviation’ as opposed to the ‘Commercial Approach’ which looks for profit maximization for the lenders. We see Micro-Finance as one of the effective tools for development and eradication of poverty. When we combine Entrepreneurship Training along with access to loans, the poor are able to succeed in their livelihood activities. We thank NABARD, RCITY Kolhapur and Shivaji University Kolhapur for their support in conducting Micro Enterprise Development Programmes. In 2014, with the help of the Lions Club, Geneva and Friends Of  India, we offered advanced skill and business development training for entrepreneurs to further develop their individual and group businesses.

In the three years from 2012-2015, the total value of loans lent were Rs.16,24,91,399 (Rupees Sixteen crores twenty four lakhs and ninety one thousand three hundred and ninety nine). The number of people who received SUEB loans and Bank loans for livelihood promotion was 2,705(two thousand seven hundred and five). SUEB encourages SHG members to utilize these loans only for livelihood activities, so that it will not become a debt burden for them. Instead, they will be able to earn income and pay back the loan and use the extra income for their family expenses.

The following table gives the breakup of loans given by SUEB and banks for the SHG members.
Activities for which SHG members take loans are:
  1. Petty shops
  2.  Snack stalls
  3.  Beautician salons
  4.  Vegetable/flower vending
  5. Garland making
  6. Xerox shop
  7. Cycle repair shop
  8. Sambrani/candle vending
  9. Tailoring
  10.  Saree business
  11.  Phenol/fabric whitener making
  12.  Making soft toys, fashion jewellery
  13. Rearing cows and goats
  14.  Agriculture
  15.  Silk weaving
The first loan is Rs.4000 per person, and older groups that have taken repeat loans are given larger loans based on the promptness with which they utilize the loan and returned the loan. In the year 2014-2015 some members qualified for receiving Rs.35, 000 per person from ICICI bank. Micro Finance really helps the people to help themselves to break the cycle of poverty.
Garlands for sale Ladies Garments
Pickle Business Milk Business
Village Tailor Provision Store
Weaving at home Retailing Rice
Clay Jewellery