Skip to main content

LET'S PLAY IT SAFE

Image
By Kishor

Micro-finance is a common term in social dictionary these days, which has become a synonym with social revolution in rural communities. Some economist and neo-socialist term it as a tool for social development and economic uplift for the poor.In fact there are many inspiring stories which spoke a lot about a change in the lives of rural folks through this scheme. People get a small amount as a loan on nominal interest to start some work or find some way for self employment. Many times we also get confused as we think that everyone of the beneficiaries is a social entrepreneur. But that is not the case. Not everyone is reaping the benefits.

A newspaper reports that the rural areas have suddenly been flooded with institutions which have come come forward to lend money. This sounds really miraculous and it seems it would wipe out poverty from the world,as institutions are providing small loan to people to start business on their own. But that is not the case,many of the organizations and institutions are trying to make money by keeping the interest rates very high, which is really against the intention with which the scheme was started. Lending loan on high interest rate somewhere between 100% and 125% would might bring the colonial practice. The purpose of micro finance is to help the poor with small loan so that they could use their resources and skill for self employment and economic prosperity. We can not consider micro-finance the only means to eliminate poverty ,it is one of the many measures.
Now is the need to keep a close vigil on the institutions which are providing loan to the poor. A transparent approach is needed to inspect the institutions which are in this trade. It is really a shame that each time a institution is created for welfare measures but becomes a corrupt means for some people or business houses. We have to come forward so that unhealthy practices could be eliminated.
Put your measures and suggestions to save this golden practice of micro-credit.

Comments

Post a Comment

Popular posts from this blog

Phangrei Hill, Manipur

By Kishor
Phangrei Hill Hills and mountains have always attracted human being for the greatest endeavours and adventures. Located in the most beautiful district of Manipur in Ukhrul, Phangrei Hill offers the scenic beauty and adventure of its own. Top view of the Phangrei Hill Location This hill is located at a journey of almost one hour from the Ukhrul district. It requires utmost care when you are driving for the first time here as the hilly roads are very different from the plain areas. One has to come Ukhrul from Imphal, the capital of Manipur which is around 85kms from Imphal and takes around 4 hours by four wheeler. Small eatery near Phangrei Hill Stay I stayed at 24th North, a restaurant come kohotel in Ukhrul main town. The hotel offers quality good and that too at a reasonable rate. You can have a view of the hill from the window of your hotel room when you will see clouds are hanging over the hills. Sometimes when you wake up in the morning you will find tha...
Post a Comment
Read more

microfinance, changing lives of rural women......

By Kishor
Munia is living in a small helmet of Bihar and mother of three kids. Life was not so easy for her around two year back. Her condition became all the more miserable when her husband Buddhan left her and went to Mumbai for a better future, but neither he returned nor any news of him came. The thought of taking care of her kids without any viable source of income haunted Munia every other day.But one day someone told her about the microfinance scheme of a cooperative society. The cooperative was providing loan to women who belongs to downtrodden families on a very nominal interest rate. Munia appelied for the loan and she got a loan of the Rs 6000/- and bought some goats. She reared the goats with care and sold them to the local market, and surprisingly within year she made a profit of Rs 3003. She even paid up the loan in a year. Now she has adopted this as a profession and is selling grown goats to local kasai(butcherman). Her children are now going school and she has a saving in a bank...
2 comments
Read more

village ;treasure trove of sustenace..ha ha aha

By Kishor
I always get confused what is development meant for. Is it a relative term or a absolute one, for the human as well as its intellectual development and pursuits. Then i take a pause,set my eyes on the development in the urban cities, and mistake them as the actual development,which we are being showcasing to the entire world. I might sound stupid but i have a very practical and eye opening visit to my village,which i undertook for some personal reason. Though i visited my native place many times but this particular visit gave me a very important and gainful insight of self sufficiency and sustainability, which have been eroded by us or by the colonial rule of 200 years in India, in pursuit of development. I think the story of other villages is not dissimilar. Guess what? The age old image of a self-sufficient Indian village came before me...Taking a break from the bookish prescription of a self-sufficient village,it gave me a rejuvinating experience. When i reached home my father brou...
Post a Comment
Read more