MICRO FINANCE

SOCIAL ASPECTS OF MICROFINANCE

Microfinance institutions significantly contributed towards gender equality ,women’s empowerment ,development of poor and strengthening of the civil society. Women’s ability to earn an income lead to their economic development , increased well being of themselves and their families and expending social & political empowerment.

SLNL link to links and banks to bank JLGs to ‘bank’ for opening RD account while lending after assessing the credit worthiness and various parameters like group discipline on regularity of meetings, repayment of loans, etc.

CUSTOMER ELIGIBILITY:

• “SLNL” extends credit facilities to its members adopting “Microfinance” and “Group Financing” clubbed with “cooperative credit”. This unique scheme is highly effective and appreciated at large.
• SLNL try to identify potential borrowers from & within members to facilitate loans and advances at most competitive interest rates.
• From time to time, the SLNL provide and market value added services to its members. On going training & skill development programs are conducted for the benefit of members / borrowers so that post lending they may succeed in their activities.
• Ability to save and access loans.
• Opportunity to undertake an economic activity.
• Mobility-Opportunity to visit nearby towns.
• Awareness-local issues, MFI procedures, banking transactions.
• Skills for income generation.
• Decision making within the household.
• Group mobilization in support of individual clients-action on.
• Married women between 18 to 60 Years of age.
• Group members should have been residing in same locality, with in 1 km radius.
• Ratio of members residing in own house : Rented house should be not less than 80:20
• One ‘members’ from one family
• Customer and his spouse should have a KYC document
• Entire family income should not exceed Rs.75,000/-p.a.
• Members should not be in list of defaulters from other MFI / lender
• Purpose of loan should be productive with income generating activity
• Family should not be involved in illegal activities