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Microfinance Operation

The aim and objectives of Parama are to promote micro-enterprise as a means of poverty alleviation.

The organization wants to create a fund for capacity building of women by giving financial support for their entrepreneurial endeavors and to make them economically independent. By this independency women can undertake responsibilities of socio economic development and can develop leadership in running worthwhile developmental activities.

This micro finance will develop the knowledge of the banking system and confidence to approach such institutions and will grow the habit of savings.


Savings Product

Once the six months are completed of group formation, Loans are mainly given for agricultural and allied activities and for carrying out small trading activities; the loan size is depending upon the internal savings done by the groups, with a tenure ranging from six months to eighteen months.

Applied loan will be disbursed among the SHG members. Till date 880 no. of groups, linked with different bank are financed by the existing limits of BGVB, State Bank of India, Anulia and NABARD. Presently total group of Parama is 920.


Loan Product

Presently Parama is continuing their micro credit programme. They are working under a vast micro credit programme with the applied financial assistance from any nationalized Bank. They offer different type of loan product according to clients demand. The duration of the loan product is 6 months or 12 months or 18 months . Loan size varied from Rs.40,000/- to Rs.50,000/-.

In addition to SHG loans, the NGO-MFI has also started individual loans with a minimum amount of Rs. 5,000 to the borrowers who are formed as five member group since 2008.

Nature of Lon Products :

Agriculture : 40%

Small Industry : 30%

Others : 30%

Interest & Processing Fees :

The rate of interest is 18% reducing, with a small processing fees of 0.30% on loan amount and they keep a Security deposit of 10% on loan amount. April 1, 2009, it has started to cover all of its borrowers under life cover through tie up with United Insurance Company.


Expected Out-Reach and Impact

They can spent their extra income on the education and health of their child which will bring a bright future for our society. Expected increase in average monthly income is 15% to 20% and Expected increase in average monthly saving is 5% to 10%


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