Microfinance

Micro finance initiatives bring new life to snake charmers

BHUBANESHWAR, A snake charmers village, which was in distress, ever since the government imposed restrictions on such traditional activity, has undergone a socio-economic change, through micro finance initiatives.

Padmakesharipur, a village on the periphery of the state capital here, widely regarded as one of the few snake charmers villages, in the country, recently played host to bankers and NGO’s, involved in micro finance.

Adhikar, a micro finance institution, operating in 13 districts with 35 branches across the state, had started work at Padmakesharipur, four years ago, encouraging the women folk to avail loan from banks. They started with Rs 1,000 and today, these women have taken loan up to Rs 15,000, as productive loan and Rs 25,000 as housing loan.

Special camps were organised by Adhikar Microfinance and Neelachal Gramya Bank, Patia Branch, with sponsorship of IOB, for no frill accounts, in a large scale financial inclusion, for the people, at the village recently. Three hundred villagers participated and opened savings bank accounts.

Mr Kaza Sudhakar, regional director, RBI; Mr P Srinivas Rao, DGM, RBI; Mrs Manisha Mishra, AGM, RBI; Mr D.K Nanda, P.K Mohanty, Sarat Chnadra Mohanty, R.K Narang, DGM, IOB; Mr M.D.N Amin, president; Mr Sheikh Sahajahan and others, interacted with the villagers.

Mr Sudhakar, explained the role of RBI and distributed account pass books to the villagers. Mr RK Narang, DGM IOB, encouraged Adhikar members, as well as the steps of Neelahal Gramya Bank, to be pro active in the area, while Mrs Manisha Mishra, AGM, RB,I discussed about the story of “Raju and Money Plant”, difference of bank savings and in-house savings and reviewed about proper utilization of money.

Mr Purna Mohanty, GM, NGB, explained about own entrepreneurship, bank savings, insurance system and loan credit system from the Bank.

Statesman

To Top