SEWA Bank Self employed women workers and producers are economically very active and contribute to the growth of the economy. They are mainly involved in production, trading and the service sector. However, in spite of their hard work and their contribution to the country's gross domestic product, they do not have access to financial services, which would help them to upgrade their own work and productivity. Self-employed women face two major financial problems: Lack of working capital, and non-ownership of assets. As a result, a big portion of their meager income goes towards interest on working capital and rent on trade equipment. Terms of borrowing from money-lenders are very exploitative and the formal banking sector is not usually responsive to the special needs of informal sector women workers, in terms of providing appropriate banking services. Thus, in order to address this problem and free themselves from the vicious cycle of eternal debt, the members of SEWA came forward with their own solution, in a meeting in December 1973: "a bank of their own", where they would be accepted in their own right and not to be made feel inferior. "We may be poor", they said "but we are so many", and indeed 4,000 women contributed share capital of Rs.10/- each to establish the MAHILA SEWA CO-OPERATIVE BANK . In May 1974, the SEWA Bank was registered as a co-operative bank under the dual control of The Reserve Bank of India and The State Government. Since then it has been providing banking services to poor, illiterate self-employed women and has become a viable financial venture.
Ananya Finance for Inclusive Growth Private Limited (Ananya)www.ananyafinance.com
Ananya Finance for Inclusive Growth Private Limited (Ananya) is a registered Non-Banking Finance Company in India. Ananya has inherited Friends of Women’s World Banking (India)’s wholesale lending programme in the field of microfinance, livelihood promotion and other sustainable solutions for the huge base of the pyramid population segment in India. Ananya was formed with a clear vision - a vision to achieve universal access to financial services in India through effective partnerships with microfinance institutions and other community-based organizations in this country. Ananya’s clients belong to the whole spectrum of Indian microfinance industry. While a few of these MFI clients have outstanding portfolio above INR 10 billion (US$22 million), some of the other smaller & start-up MFI clients have portfolio size of less than INR 10 million (US$0.2 million).While our clients may vary in size, promoter backgrounds, geographical presence and aspirations-we steadfastly refuse to discriminate between our different clients. No other Indian NBFC/private wholesale lending institution has such an immense diversity in its MFI client base. While Ananya is committed to continue the legacy of FWWB in the microfinance sector, it is also committed to offer new products and services according to the changing needs of the institutional clients. We at Ananya have a dream –and already nearly 126 MFI partners and 14 lending institutions have shared our dream. We invite you to join us as a partner and help us realize this inclusive dream of achieving universal access to financial services.
Self Employed Women’s Association (SEWA)www.sewa.org
Self Employed Women’s Association SEWA is a trade union registered in 1972. It is an organisation of poor, self-employed women workers. These are women who earn a living through their own labour or small businesses. They do not obtain regular salaried employment with welfare benefits like workers in the organised sector. They are the unprotected labour force of our country. Constituting 93% of the labour force, these are workers of the unorganised sector. Of the female labour force in India, more than 94% are in the unorganised sector. However their work is not counted and hence remains invisible.
Friends of Women’s World Banking, Indiawww.fwwbindia.org
Friends of Women’s World Banking - India (FWWB-I), was promoted in 1982 by SEWA Bank, as an affiliate of Women’s World Banking, a global network created to focus on the need for women’s direct access to financial services.. To begin with, FWWB-I was providing guarantee to a few co-operative banks in the state of Gujarat to facilitate the provision of loans to self employed women. In the year 1989, it modified its byelaws to expand its operations to cover the entire country and operate as an ‘apex’ organization to build a strong network of institutions providing financial services to low income household women. Led by a Board of Women Leaders, representing strong community based initiatives, FWWB-I’s strategy was to act as a catalyst with the commitment to build a society based on equity and social justice where women are leaders in social change.
Coady International Institutewww.coady.stfx.ca
The Coady International Institute has been promoting community self-reliance since it opened its doors to educate leaders from around the world 50 years ago. Established by St. Francis Xavier University in 1959, the Coady International Institute is world-renowned as a centre of excellence in community-based development and leadership education. The Institute was named in honour of Rev. Dr. Moses Coady, a prominent founder of the Antigonish Movement - a people's movement for economic and social justice that began in Nova Scotia during the 1920s.
National Bank for Agriculture and Rural Development - NABARDwww.nabard.org
NABARD is set up as an apex Development Bank with a mandate for facilitating credit flow for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts. It also has the mandate to support all other allied economic activities in rural areas, promote integrated and sustainable rural development and secure prosperity of rural areas.
Reserve Bank of Indiahttp://www.rbi.org.in/FinancialEducation/Home.aspx
The Reserve Bank of India has undertaken a project titled "Project Financial Literacy". The Objective of the project is to disseminate information regarding the central bank and general banking concepts to various target groups, including, school and college going children, women, rural and urban poor, defence personnel and senior citizens. The project has been designed to be implemented in two modules, one module in which Money Kumar will familiarise you with the role and functions of the Reserve Bank of India; and through the other module, Raju will introduce you to banking concepts.