SANCHAYAN NEWSLETTER VOL.

V SEPTEMBER 2011

Sanchayan Rural Financial Literacy Program

In collaboration with Youthreach India, sponsorship by AIS, and on-ground support from Disha, Sanchayan conducted a series of financial literacy and awareness workshops for the women undertaking microfinance activities in villages near Roorkee, Haridwar district, Uttarkhand. The workshops covered various topics like importance of savings, no-frills banking, need for PAN, insurance, NPS, pyramid schemes, chit funds and other issues that directly affect the rural populations. It saddened us to see the proliferation of pyramid schemes and other frauds that are cheating the village women across numerous villages. Forget about growth, even if the women can protect themselves from financial risks, this would be an excellent outcome for them. What is more sad is that these pyramid schemes are being perpetuated by youth and relatives who get attracted to the false promises and end up getting cheated. They are told that they are buying insurance when in fact they end up paying direct marketing companies for dreams of a bike or holiday trip. The Government should seriously increase vigilance on these direct marketing companies immediately if it really wants to help the poor women. The next phase of workshops are slated to be held in villages around Rewari, Haryana. We shall be sharing more experiences with you soon.

Financial Services & Financial Literacy for the Urban Poor

Women opening no-frills saving accounts in Banking Camp held at Sanchayan Suraksha Point (SSP), Trilokpuri, East Delhi in collaboration with Indian Overseas Bank [IOB]

Millions of rural population are migrating to the cities to find work and employment. They require new identity proofs, bank accounts, encouragement to save, insurance, mediclaim, child & family support, plan for retirement, and so many other financial products and services. We feel that the urban poor are equally in need of financial products and services as they are affected badly by migration in terms of low income as compared to income in villages, and also lack of a support system in the cities for them so to ensure smooth migration. Sanchayan is complementing the efforts of the Governments, Regulators, Banks, Insurance cos, Financial Institutions and other organizations by increasing awareness among the urban poor about multiple products & services that can help them to lead a financially secure life.

Check out more pics of Sanchayans workshops at www.facebook.com/SanchayanSociety Partner with us to conduct financial literacy workshops for your employees at your office/factory Partner This Diwali, donate for a good causeSupport Financial Education for Disadvantaged Youth
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