An NGO floats a micro-credit venture for Ranchi villagers

Ranchi, Aug 6 : 'Badlav Foundation', an NGO working in rural development sector, has come with micro-finance loan options for the poor villagers of Ranchi to ease the financial woes of the poor villagers.

The 'Samarthan' project launched in 'Santhal Pargana' by the 'Badlav Foundation' has emerged as a savior for many poor villagers who had to face tough times because of financial crisis and absence of easy micro credits.

Started a year and a half ago, the financial loans have been extended in three districts so far and has been of a great help to the masses.

The agents claim to have helped more than 300 people so far in a single area while number of people who have benefited from the project comes to 1500 people from 500 communities.

"I have given loans to more than 300 people here and the response has been great. The amount that I have given in the market is more than 15 Lakh. We go to every village and give loans in a hassle free manner. The motto of our company is to help the underprivileged masses to overcome monetary problems," said Parimal Mandal, an agent.

The villagers seem to be contented and happy, as the loans are easily available without harassment and wastage of time.

"In banks, there are lots of difficulties and formalities to be fulfilled. It becomes difficult for us to go daily for the formalities. We went here once and got our loan and when the time comes to return the money back, they collect it from us themselves," said Niarnjan, a carpenter.

Till date, more than 12,500,000 rupees have been given to the villagers in the three districts and the authorities claim that 97 per cent loans are returned.

"When we give them loan and explain them everything properly in a hassle free manner 97 per cent of our loans are returned. People are happily taking and returning the loans," said Bajrang Singh, director, Samarthan.

In the region where poverty is predominant, micro-financing is an important tool for development. By Girija Shankar Ojha

ANI