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  • Timezone: America/New_York
  • Date: Jun 27 2023
  • Time: 8:30 am - 10:00 am

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Jun 27 2023


6:00 pm - 7:30 pm

Annapurna Pariwar Micro Insurance Model: Unsecured to Secured

Impact through Empowerment is a series of three webinars that showcase the work of Annapurna Pariwar, a group of six developmental organisations devoted to empowering poor women in the slums of Pune and Mumbai. The goal of Annapurna Pariwar is to ensure smiles on the faces of poor working women.The webinars will trace the journey for the Annapurna Pariwar from its genesis in 1975 as Annapurna Mahila Mandal, Mumbai a Charitable trust which was set up by Padmashree Prematai Purao and Comrade Dada Purao in the International Year for Women. Padmashree Prematai Purao is a freedom fighter from Goa, is a leading woman activist from the sixties and a recipient of many national and international awards. Com. Dada Purao was a Bank Employees Leader. Eighteen years later, their daughter, Dr.Medha Purao Samant set up Annapurna Pariwar in Pune in 1993. She formed a group of nine vegetable vendors who were borrowing from the private money lenders at exorbitant rates of interest . They were under the clutches of local money lenders in spite of the presence of many banks and financial institutions in Pune. Medhatai, as she is affectionately called, gave the initial capital of Rs. 9000/- as the first loan to the members of the first group of borrowers in Pune. Over time, Annapurna Pariwar started a package of various services for the benefit of the slum dwellers, which are completely need-based. Through microfinance, micro insurance and other support services, women are enabled to build sustainable families. Small repeat loans are given to poor enterprising women and men as also business guidance and skills so that they can run their businesses in more effective ways. The organization gives microfinance without any security or guarantee and enjoys a 100% recovery rate.

Microfinance Loans are given to the members for business, education, house repairs, asset creation & old debt repayment. The Micro Insurance module of Annapurna is a one of a kind and is a Loan linked insurance programme. The moment a member is given the microfinance loan they enter into an ecosystem created in Annapurna Pariwar where they are provided with Health, Family, Life and Asset Mutual Fund coverage. Where in the time of health crises, untimely death of a family member/policy holder or loss of asset due to natural/man made calamities they are covered and given some financial assistance, reducing the financial burden faced otherwise. There is no age barrier for the members to be enrolled in the insurance programme. The main aim of the program is to focus of good quality facilities to be provided to the member and to reduce the out of pocket expense of the members. The Micro Insurance organization is a Not for Profit organization and is owned by the borrower members themselves.

The three webinars are around the three themes of micro finance, micro insurance and support services. The webinars will have panel discussions with the founder, office bearers of the organisation as also with beneficiaries This will draw out not just the stupendous work of the organisation but also highlight the triumphs and travails of this journey. Accounts from the members on how the services offered by Annapurna Pariwar has changed their lives ,will be inspiring to all interested in developmental endeavours that sustain. Do join us to understand the path breaking work of Annapurna Pariwar, Medhatai and her dedicated team. Come listen to the voices from the field that speak of what it takes to walk a path towards empowerment years old till the end of their lives.

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