Women have emerged as the better managers not only in the corporate world but also in the remote villages of the country by providing micro finance to eliviate poverty.
NEW DELHI: Women have emerged as the better managers not only in the corporate world but also in the remote villages of the country where the fairer sex has managed to successfully provide micro finance to alleviate poverty.
'Nalajhiri', a remotely situated village in Madhya Pradesh boasts of such women who have emerged leaders in a drive against poverty. About 77 women from the village have set an example and inspiration to all by successfully revolving the available fund of Rs 80,000 up to twice of its value.
The women members of a common interest group scheme availed of loans from the village fund 'Apnakosh' and have been prompt in repaying the amount, marking a recovery rate of 100 per cent in micro-finance.
The micro financing unit in the Nalajhiri village of district Rajgarh is a part of the Madhya Pradesh District Poverty Initiatives Project (MPDPIP) funded by the World Bank which is being implemented in 14 districts of the state.
"The Village Development Committee (VDC) has given loans for Rs 1,000 to Rs 3,000 to persons who needed to get a tube-well dug, for buying equipments for farmings, seeds and fertilisers etc," Manju Bhargava, the VDC secretary and a resident of Nalajhiri says.
The project became effective from March 2001 and the total outlay for the project is Rs 521.55 crore out of which Rs 59.92 crore would come from the contribution of community and share of the state government.
"Yes...all the loans have been repaid by the members within the specified time limit...," Parbati, the other signatory says. "It feels nice to be in the executive committee...our village has improved a lot after the scheme was implemented," she adds.
Apart from availing credits, women and all the members regularly make a saving in the VDC of Rs 20 each and presently more then Rs 21,000 have been contributed by the members as saving in the revolving fund.
Besides, the VDC have come up as an institution for social empowerment too, where all the members work towards the betterment of the whole village.
"The MPDPIP has emerged as a successful project, which can be seen from the confidence exuded by these women and even the male population is encouraged by the support from the micro finance unit here," a World Bank official says.
Overall, in the Rajgarh district, there are 202 VDC's and women head 192 communities with the total Apna Kosh funds amounting to Rs 196 lakh. While the micro finance activity is carried out in 155 VDCs.
Besides, upon completion of four year of operation an impact study has been conducted to measure the impact of CIGs on the lives of people and changes that were expected at the grass-root level.
"The impact survey shows women participation in household decision making has increased to a great extent," DPIP project co-ordinator Ravindra Pastor says.
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