Economic Development

The poor in the grass – root area have very limited resources and employment area. They toil restlessly, lead poverty-stricken life and leave a feeble generation again. The experience of TSSS has proved that micro credit is one of the powerful tools to alleviate poverty among the poor. Hence, it continued to expand and strengthen the Micro Credit Programme supported by Caritas Sweden in 2005. 

MICRO CREDIT PROGRAMME: 

A micro-credit is a small loan given to poor people to encourage self-employment projects that can generate income and raise their standard of living. In order to manage the Revolving Fund efficiently, a Regional Micro Credit Society (REMICS) has been formed. The rules and regulations for loan disbursement and repayment have been evolved. REMICS is fully managed by the federation leaders with the guidance and support of TSSS. 

During the period under review, REMICS has disbursed a loan amount of Rs.1534000 to 223 beneficiaries for income generation initiatives. The fund was used for the following purposes 

Particulars of Revolving Fund utilization

ECONOMIC ASSISTANCE TO CORPORATION SHGS: 

The slum people are the worst affected lots due to exorbitant rate of interest by moneylenders and finance companies. To redeem them from the clutches of such anti-social elements, TSSS offers credit facilities to the deserving women to take up income generation activities to meet their household expenses. The table gives an account of loan disbursed during the year. 

COMMUNITY BASED ECONOMIC ENHANCEMENT OF RURAL WOMEN

Enhancing women’s participation in economic development is the key to their empowerment. To translate this concept into a reality, TSSS launched a Community Based Economic enhancement programme with the generous contribution from MANOS UNIDAS, Spain. The fund is being revolved among the members of women federations.

SANGAMAM – Micro Finance Programme: 

The poor non-literate borrowers were unable to comply with the highly bureaucratic formalities of documentation.  Though the elaborate procedures in the formal systems were meaningful, they failed to serve the needs of the poor especially women who are mostly assetless. It is in this context, TSSS initiated SANGAMAM, which is popularly known as People’s Bank. 

The major share of the capital belongs to the people themselves. The savings of people at village level is being deposited in the district level credit structure named SANGAMAM in the form of shares.  A well-defined bye-law for the functioning of the programme has been evolved. 

This programme is much welcomed by the beneficiaries as it has met the credit needs of the women largely. Besides, it has paved the way for emergence of women entrepreneurship. Following are the particulars of loan disbursement during the year.