Una, June 1
The Swan Women (Multipurpose) Cooperative Society, an affiliate of the Swan Women Federation, a collective of around 800 rural women’s self-help groups (SHGs) in Una District, assisted its members during the Covid-crisis. 19.
The society, which has more than 10,000 rural women members, has provided loans to the needy for their livelihood, children’s education, health care and other household needs at rates cheaper than banks.
Subhadra Rani, president of the Swan Women Federation, said 804 SHGs and over 10,000 women are associated with the organization. Activities undertaken by the federation included microcredit at 9.4 percent annual interest, which was well below bank interest rates, as well as micro-savings at 8 percent and 4 percent annual interest. on term deposits and savings, which were 2.5% and 1% higher, respectively, than bank interest rates.
In addition, the Swan Women Federation implements livelihood promotion, charity and lifestyle improvement programs, and offers scholarships to deserving female students.
Santosh Devi from Dathwara village said that she and her husband Om Prakash worked as daily wagers and that the family income was too small to support their three children. Their youngest son Rohit had failed in two attempts to recruit into the army. He needed coaching, but the family didn’t have the money for it.
Santosh said that since she was a member of a SHG supported by the Swan Women Federation, she took out a loan of 10,000 rupees for Rohit to provide her with mentoring. He was selected on his subsequent attempt and was now in training.
Swan Women Cooperative Society Secretary Sunita Sharma said incorporated in 2017, the society was worth Rs 17 crore and around 2,000 female members had received a Rs 4 crore loan.
Company President Raj Kumari said, “Rural women never get bank loans because they don’t own property. SHG members get loans at affordable interest rates from the company in the shortest possible time, without any complicated paperwork. She said that during the pandemic, many rural households had used the company’s financial services.