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X-WR-CALNAME:INHAF Habitat Forum India
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DTSTART:20230524T123000Z
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DTSTAMP:20230518T134600Z
CREATED:20230518
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SUMMARY:Annapurna Pariwar: Microfinance Model – From No Assets to Creation of Assets
DESCRIPTION:Dr. Medha Purao Samant, founder of Annapurna Pariwar had left her job in Bank of India in 1993 to give collateral-free loans to the vegetable vendors who were being exploited by the money lenders by giving them loans for their working capital at exorbitant rates of interest.An experiment giving collateral-free loans to 9 vegetable vendors from her own pocket and proved that poor women are good repayers Annapurna’s journey started in an 8 X 8 room below the staircase of her home growing from 9 women to 1,25,000 women and from total loans of Rs.9,000/- to Rs.135 crores. The office premises grew from the 8 x 8 room to a 12-storey building and the number of staff from one person (herself) to 400 colleagues and 11 Board members. She left her secure job and created jobs for 400 others.\nAll operations of Annapurna Pariwar are in 650 slums in Pune and 1,200 slums in Mumbai. Now they have 22 branches, 22 branch managers, 100 field officers, 4 Deputy Managers, 4 System Auditors and 35,000 active borrowers.\nThough Annapurna Pariwar started with Micro Finance service for the empowerment of poor women, it did not stop at that. It went on addressing the other social problems of these women and created a protective umbrella offering several services to take care of their financial needs, health and family sicknesses, protection from natural calamities, children’s education, old-age financial security and child development for their very young children.\n
URL:https://www.inhaf.org/webinar/annapurna-pariwar-microfinance-model-from-no-assets-to-creation-of-assets/
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