Presenting " The MicroFinance Team "

The Idea

To use the successful modal of microfinance in the SIFE Somaiya projects to encourage sustainability of projects.

The Objective

· Encouraging the concept of self-reliance.
· Ensure serious involvement of the community in the project.
· Empowerment of weaker sections especially women.
· To self sustain the projects.
· To encourage the concept of microfinance.

Proposed benefactors

Banks which are interested in the process of development.
NGOs which are working for financial self reliance.
Microfinance Institutions

Beneficiaries

The communities associated with SIFE Somaiya projects.
Women of weaker sections.
The women associated with Sahas (Somaiya)

Intended plan of action

Convince the beneficiaries and approach Mr. Qazi of SBI Bank with the plan.
Assist the beneficiaries for the process.
Ensure that there is a timely recovery of loans.
To guide and felicitate them for smooth working progress.

Workshops

We have organized 2 workshops till now for the formation of the SHG. These workshops were attended by some of the eminent members of the society who encouraged these women to form the Self Help Group. Some of these speakers who attended the workshop were Mrs. Kumud Kapadia (Active Social Worker and also assisting in the embroidery project), Mrs. Madhu Panjabi (Bank Manager NABARD), Mrs. Nirmala Shetty (Founder Owner of the Nirmala Beauty Clinic), Mr. Qazi (AGM SBI Microfinance and Credit cell), Mrs. Shobha Javalgekar (Officer and Trainer in Maharashtra Cell for Entrepreneurship Development), Ms. Ranjana Kaushal (Leading Social Worker and Sahas Coordinator).

Mr.Quazi -AGM SBI Microfinance and Credit cell ,talking to the Self Help Group as Ms.Ranjana Kumar,SAHAS coordinator looks on during the Workshop held in Somaiya campus on 13th December,2006

Current Status

The SHG has been initially formed and as of now 19 ladies have formed part of the SHG.

The women are trained by Sahas Somaiya in different fields to start some income generation activities.
Ms. Ranjana Kumar of Sahas Somaiya and Mr. Qazi of SBI are assisting us in the process.

SHG team members

1) Amrupali
2) Meena
3) Mahima
4) Geeta (Embroidery)
5) Anita
6) Roshni
7) Anjali
8) Suvarna
9) Jagriti
10) Monika
11) Pramila 1
12) Maya
13) Suman (Embroidery)
14) Abhinatri
15) Ujjwala
16) Pramila 2 (Embroidery)
17) Shabana (Mehendi)
18) Neelu (Mehendi)
19) Priya (Mehendi)


Future Plans

The primary objective of the group will be ensuring success of the SHG formed by providing adequate assistance. The group is planning to implement the model in the other areas too. We are also planning to develop street plays to educate the women of the lower strata.