NRDS facilitated to mobilize local resources by creating local funds to finance poor & marginalized people particularly woman. To identify poverty causes, NRDS analysis one of the root cause for poverty is capital deficiency of poor. So, NRDS planned to accumulate local fund and disburse among the poor & marginalized people by forming different groups as Microfinance program.
The micro finance program brings collateral-free credit and savings services to the poor, primarily through village level Woman group (Somity) made up of 20 to 40 women from a local community. These groups serve as a platform for women to gather and discuss issues concerning their daily lives. Our holistic, credit plus approach also ensures that our borrowers are supported, can exchange information and learn about health, social and legal issues. Our loan package, exclusively for women who are part of Samity, is provided for small enterprise ventures such as agriculture, rearing poultry and livestock, growing vegetables, small business and making handicrafts.
Micro-finance program of NRDS has brought a positive change in the livelihood of the disadvantaged rural families especially the women. The capital provided under this program to the borrowers helps in implementing different income generating activities and ensured a regular income. It has facilitated the asset less people to be an owner of asset. The program has increased the access of marginalized people especially women into capital and their buying capacity has increased. Capacity of risk management of the client of micro-finance program has increased and their vulnerability to natural calamity has reduced remarkably. It also increased consuming habit of our client which improved their health and nutrition, infrastructure development etc.
Financial inclusion
In order to ensure capital support to marginalized people, who don’t have access to formal credit; NRDS is operating it’s microcredit program in the region. The program is borrower’s friendly and operating its savings and credit activities through the Village Organizations, where organization members are playing a vital role of management and accountability. The borrowers use the money for income and employment generative activities where the program organizers provide support and services to achieve target of increased income and employment. Marginalized people especially women- folk from families in poverty are the partner of the microfinance program of NRDS. The program has reached the institutional self-sustainability to continue microfinance as one of the tools for income and employment generation. A total of 72,000 families are reached by the organization by 2017.