Bachat Khaata and Livelihood project

After having started with the education project for the kids, TL has initiated a new micro-credit and livelihood project for the women of the community. The idea is to help them be self-dependent by improving their savings and also help them meet their ends by setting up their own small earning system.

The micro-credit and livelihood project team initially started off with a micro-credit framework in mind. We did some research on how the micro-finance and loan system works in terms of the flow of money, interest rate, and the like. Our intention was to setup a system wherein we would provide them with loans and a platform to learn new things which can help them earn some money and thereby improve their standard of living.

However, after massive discussion sessions with the women, we realised that the women at the community are barely able to save any money on a daily basis. They are sometimes able to just manage to sustain their daily requirement of food with the money they earn. We immediately realized we need to change our approach from a micro-credit role to more of a help encourage savings role.

And thus was born a novel idea of ‘Bachat Khaata’. What we intend to do is setup a savings scheme for them wherein, they will pool a certain sum of money on a daily basis and at the end of the month a portion of the sum will be locked for 6 months and the rest will be given back to them to spend on their requirement. By doing this we, in a way, are forcing them to save money so that they can spend judicially.

Apart from the savings system, we also figured out the importance of creating Self Help Groups among the women at the community. It makes so much of a difference when a group of people come together and collectively help each other meet ends. With this in mind, we simultaneously initiated the process of creating self help groups and introduce the savings system to them within the groups.

Also, another thing we came across while interviewing the women is that they are really eager to learn a new art like stitching, embroidery, and the like. Basically they want to setup a small business so that they can keep themselves occupied and at the same time earn money to feed their family. It turns out that we are in the process of engaging stitching classes for the women who are interested to do so.

Slowly but surely, we are able to foresee our ideas taking shape and create a better environment for the various families to live in harmony. We believe our savings model will help us in our path towards setting up a micro-credit facility at TL. Our long term objective is surely to work towards creating one for them.

As it stands today, after having organized a couple of meeting sessions with the community women briefing and introducing them with the concept, we are all set to form the self help groups and at the same time behind the scenes are giving shape to the Bachat Khaata concept. Enjoy the pictures and stay tuned in for updates.

Regards,

Milind Gandhi

Micro-Credit & Livelihood Project Team,

Touching Lives Micro World

(We are open to any suggestions, ideas, and improvements. Please feel free to put a comment along with your email id and we shall get back to you)